Investors with a lot of money to spend have taken a bearish stance on Freeport-McMoRan (NYSE:FCX).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don’t know. But when something this big happens with FCX, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga‘s options scanner spotted 101 uncommon options trades for Freeport-McMoRan.
This isn’t normal.
The overall sentiment of these big-money traders is split between 42% bullish and 46%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $1,019,152, and 93 are calls, for a total amount of $11,094,907.
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 $30.0 and $90.0 for Freeport-McMoRan, spanning the last three months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Freeport-McMoRan’s options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Freeport-McMoRan’s substantial trades, within a strike price spectrum from $30.0 to $90.0 over the preceding 30 days.
Freeport-McMoRan Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| FCX | CALL | TRADE | NEUTRAL | 03/20/26 | $5.95 | $5.6 | $5.75 | $60.00 | $1.7M | 16.7K | 6.1K |
| FCX | CALL | SWEEP | BULLISH | 03/20/26 | $5.8 | $5.75 | $5.8 | $60.00 | $1.1M | 16.7K | 3.1K |
| FCX | CALL | TRADE | BEARISH | 01/15/27 | $7.2 | $6.95 | $7.05 | $75.00 | $705.0K | 8.7K | 1.5K |
| FCX | PUT | TRADE | BULLISH | 01/15/27 | $4.4 | $3.25 | $3.36 | $47.00 | $504.0K | 1.8K | 1.5K |
| FCX | CALL | TRADE | BULLISH | 06/18/26 | $4.45 | $4.2 | $4.45 | $70.00 | $445.0K | 15.1K | 1.7K |
About Freeport-McMoRan
Freeport-McMoRan owns stakes in 10 copper mines, led by its 49% ownership of the Grasberg copper and gold operations in Indonesia, 55% of the Cerro Verde mine in Peru, and 72% of Morenci in Arizona. It sold around 1.2 million metric tons of copper (its share) in 2024, making it the one of the world’s largest copper miners by volume. It also sold about 900,000 ounces of gold, mostly from Grasberg, and 70 million pounds of molybdenum. It had about 25 years of copper reserves at the end of December 2024. We expect it to sell similar amounts of copper midcycle in 2029, though we expect gold volumes to decline to about 650,000 ounces then due to falling production at Grasberg.
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
- Trading volume stands at 23,999,005, with FCX’s price up by 2.04%, positioned at $61.64.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 87 days.
What The Experts Say On Freeport-McMoRan
In the last month, 5 experts released ratings on this stock with an average target price of $64.6.
- Maintaining their stance, an analyst from UBS continues to hold a Buy rating for Freeport-McMoRan, targeting a price of $70.
- Consistent in their evaluation, an analyst from Wells Fargo keeps a Overweight rating on Freeport-McMoRan with a target price of $64.
- An analyst from Bernstein has revised its rating downward to Market Perform, adjusting the price target to $54.
- Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Freeport-McMoRan with a target price of $67.
- An analyst from JP Morgan has decided to maintain their Overweight rating on Freeport-McMoRan, which currently sits at a price target of $68.
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.
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