Financial giants have made a conspicuous bullish move on Freeport-McMoRan. Our analysis of options history for Freeport-McMoRan (NYSE:FCX) revealed 18 unusual trades.
Delving into the details, we found 72% of traders were bullish, while 27% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $178,501, and 14 were calls, valued at $628,649.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $38.0 to $55.0 for Freeport-McMoRan over the last 3 months.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Freeport-McMoRan's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Freeport-McMoRan's significant trades, within a strike price range of $38.0 to $55.0, over the past month.
Freeport-McMoRan Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| FCX | CALL | SWEEP | BULLISH | 05/17/24 | $50.00 | $72.5K | 29.6K | 3.5K |
| FCX | CALL | TRADE | BEARISH | 05/17/24 | $50.00 | $72.2K | 29.6K | 6.0K |
| FCX | CALL | SWEEP | BULLISH | 05/17/24 | $50.00 | $63.3K | 29.6K | 2.9K |
| FCX | PUT | SWEEP | BULLISH | 04/05/24 | $46.00 | $59.7K | 267 | 39 |
| FCX | CALL | TRADE | BULLISH | 06/20/25 | $55.00 | $54.0K | 2.0K | 100 |
About Freeport-McMoRan
Freeport-McMoRan Inc is an international mining company. It has organized its mining operations into four primary divisions: North America copper mines, South America mining, Indonesia mining and Molybdenum mines. Its reportable segments include the Morenci, Cerro Verde and Grasberg (Indonesia mining) copper mines, the Rod & Refining operations and Atlantic Copper Smelting and Refining. It derives key revenue from the sale of Copper.
After a thorough review of the options trading surrounding Freeport-McMoRan, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Freeport-McMoRan
- With a volume of 4,846,962, the price of FCX is up 0.65% at $46.18.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 22 days.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.