Freeport-McMoRan Options Trading: A Deep Dive into Market Sentiment

Freeport-McMoRan, Inc. -2.21%

Freeport-McMoRan, Inc.




High-rolling investors have positioned themselves bullish on Freeport-McMoRan (NYSE:FCX), and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in FCX often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 8 options trades for Freeport-McMoRan. This is not a typical pattern.

The sentiment among these major traders is split, with 50% bullish and 50% bearish. Among all the options we identified, there was one put, amounting to $168,000, and 7 calls, totaling $456,332.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $35.0 to $50.0 for Freeport-McMoRan during the past quarter.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Freeport-McMoRan's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Freeport-McMoRan's whale trades within a strike price range from $35.0 to $50.0 in the last 30 days.

Freeport-McMoRan 30-Day Option Volume & Interest Snapshot

Options Call Chart

Largest Options Trades Observed:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
FCX PUT TRADE NEUTRAL 12/19/25 $35.00 $168.0K 611 400
FCX CALL SWEEP BULLISH 02/16/24 $42.00 $123.6K 4.3K 838
FCX CALL SWEEP BULLISH 02/16/24 $43.00 $106.3K 5.0K 335
FCX CALL SWEEP BULLISH 02/16/24 $42.00 $72.3K 4.3K 170
FCX CALL SWEEP BULLISH 02/16/24 $42.00 $47.6K 4.3K 6

About Freeport-McMoRan

Freeport-McMoRan Inc is an international mining company. It operates geographically diverse assets with proven and probable mineral reserves of copper, gold, and molybdenum. The company's portfolio of assets includes the Grasberg minerals district in Indonesia; and mining operations in North America and South America, including the large-scale Morenci minerals district in Arizona and the Cerro Verde operation in Peru. It derives key revenue from the sale of Copper.

In light of the recent options history for Freeport-McMoRan, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Present Market Standing of Freeport-McMoRan

  • Currently trading with a volume of 913,708, the FCX's price is down by -0.76%, now at $42.87.
  • RSI readings suggest the stock is currently may be approaching overbought.
  • Anticipated earnings release is in 27 days.

Expert Opinions on Freeport-McMoRan

Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $40.5.

  • An analyst from UBS persists with their Neutral rating on Freeport-McMoRan, maintaining a target price of $41.
  • An analyst from Morgan Stanley persists with their Equal-Weight rating on Freeport-McMoRan, maintaining a target price of $40.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Freeport-McMoRan options trades with real-time alerts from Benzinga Pro.

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