Financial giants have made a conspicuous bearish move on Freeport-McMoRan. Our analysis of options history for Freeport-McMoRan (NYSE:FCX) revealed 14 unusual trades.
Delving into the details, we found 28% of traders were bullish, while 42% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $442,041, and 8 were calls, valued at $536,139.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $20.0 to $60.0 for Freeport-McMoRan over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $20.0 to $60.0 in the last 30 days.
Freeport-McMoRan Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| FCX | CALL | SWEEP | BEARISH | 11/15/24 | $8.85 | $8.75 | $8.75 | $41.00 | $260.8K | 81 | 0 |
| FCX | PUT | TRADE | NEUTRAL | 01/17/25 | $0.81 | $0.72 | $0.77 | $35.00 | $182.3K | 15.3K | 3 |
| FCX | CALL | SWEEP | BULLISH | 07/26/24 | $1.33 | $1.26 | $1.33 | $50.00 | $82.3K | 85 | 9 |
| FCX | PUT | TRADE | BEARISH | 01/17/25 | $0.46 | $0.38 | $0.43 | $32.00 | $68.8K | 16.0K | 0 |
| FCX | PUT | SWEEP | BEARISH | 08/16/24 | $3.45 | $3.4 | $3.45 | $49.00 | $61.7K | 5.7K | 8 |
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.
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.
Current Position of Freeport-McMoRan
- With a trading volume of 3,655,587, the price of FCX is up by 1.06%, reaching $47.76.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 30 days from now.
What Analysts Are Saying About Freeport-McMoRan
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $60.0.
- Consistent in their evaluation, an analyst from Scotiabank keeps a Sector Outperform rating on Freeport-McMoRan with a target price of $60.
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.