Bullish option flow detected in Freeport McMoRan with 19,822 calls trading, 1.5x expected, and implied vol increasing over 3 points to 38.67%. Aug-24 55 calls and 7/5 weekly 51 calls are the most active options, with total volume in those strikes near 5,800 contracts. The Put/Call Ratio is 0.26. Earnings are expected on July 23rd.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FCX:
- Freeport-McMoRan cuts Q2 copper, gold sales view
- Nike upgraded, Palantir downgraded: Wall Street’s top analyst calls
- Freeport-McMoRan upgraded to Overweight from Equal Weight at Morgan Stanley
- Freeport McMoRan call volume above normal and directionally bullish
- Freeport-McMoRan price target raised to $60 from $53 at Scotiabank