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Whales with a lot of money to spend have taken a noticeably bullish stance on Freeport-McMoRan.
Looking at options history for Freeport-McMoRan (NYSE:FCX) we detected 9 trades.
If we consider the specifics of each trade, it is accurate to state that 44% of the investors opened trades with bullish expectations and 44% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $179,528 and 5, calls, for a total amount of $172,271.
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $50.0 to $60.0 for Freeport-McMoRan over the recent three months.
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 $50.0 to $60.0, over the past month.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| FCX | PUT | SWEEP | BEARISH | 07/19/24 | $1.51 | $1.48 | $1.5 | $50.00 | $60.1K | 5.2K | 101 |
| FCX | PUT | SWEEP | BULLISH | 05/31/24 | $1.24 | $1.05 | $1.05 | $53.00 | $51.3K | 2.4K | 504 |
| FCX | CALL | SWEEP | BULLISH | 05/31/24 | $1.19 | $1.16 | $1.19 | $52.00 | $50.8K | 3.0K | 1.3K |
| FCX | PUT | SWEEP | BEARISH | 05/31/24 | $1.13 | $1.09 | $1.09 | $53.00 | $39.7K | 2.4K | 908 |
| FCX | CALL | TRADE | BULLISH | 05/31/24 | $0.77 | $0.69 | $0.77 | $53.00 | $38.5K | 3.2K | 105 |
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.
Following our analysis of the options activities associated with Freeport-McMoRan, we pivot to a closer look at the company's own performance.
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $54.0.
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.
If you want to stay updated on the latest options trades for Freeport-McMoRan, Benzinga Pro gives you real-time options trades alerts.
Posted In: FCX
