Spotlight on Freeport-McMoRan: Analyzing the Surge in Options Activity
Benzinga's options scanner just detected over 30 options trades for Freeport-McMoRan FCX summing a total amount of £2,124,128. At the same time, our algo caught 7 for a total amount of 381,224.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between £33.0 and £55.0 for Freeport-McMoRan, spanning the last three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Freeport-McMoRan stands at 3474.58, with a total volume reaching 28,080.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Freeport-McMoRan, situated within the strike price corridor from £33.0 to £55.0, throughout the last 30 days.
Freeport-McMoRan 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| FCX | CALL | SWEEP | BULLISH | 05/16/25 | £3.95 | £3.9 | £3.94 | £45.00 | £338.1K | 351 | 876 |
| FCX | CALL | SWEEP | BULLISH | 01/17/25 | £1.62 | £1.61 | £1.62 | £46.00 | £157.9K | 4.0K | 2.2K |
| FCX | PUT | TRADE | BULLISH | 12/20/24 | £1.36 | £1.31 | £1.32 | £42.00 | £132.0K | 8.4K | 1.0K |
| FCX | CALL | SWEEP | BULLISH | 12/20/24 | £1.8 | £1.78 | £1.79 | £44.00 | £118.2K | 3.6K | 745 |
| FCX | CALL | SWEEP | BULLISH | 03/21/25 | £3.15 | £3.05 | £3.15 | £45.00 | £108.0K | 3.7K | 577 |
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. Following our analysis of the options activities associated with Freeport-McMoRan, we pivot to a closer look at the company's own performance.
Freeport-McMoRan's Current Market Status
- With a trading volume of 7,082,008, the price of FCX is up by 1.81%, reaching £43.48.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 65 days from now.
What Analysts Are Saying About Freeport-McMoRan
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of £54.5. Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access[1]. * Maintaining their stance, an analyst from Scotiabank continues to hold a Sector Perform rating for Freeport-McMoRan, targeting a price of £52. * An analyst from Raymond James persists with their Outperform rating on Freeport-McMoRan, maintaining a target price of £57. 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[2] gives you real-time options trades alerts.
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References
- ^ Click here for access (www.benzinga.com)
- ^ Benzinga Pro (benzinga.grsm.io)
- ^ Market News and Data brought to you by Benzinga APIs (www.benzinga.com)