Mixed options sentiment in Freeport McMoRan (FCX), with shares down 12c near $47.70. Options volume relatively light with 23k contracts traded and calls leading puts for a put/call ratio of 0.38, compared to a typical level near 0.46. Implied volatility (IV30) dropped 0.7 near 35.02,in the bottom quartile of the past year, suggesting an expected daily move of $1.05. Put-call skew flattened, suggesting a modestly bullish tone.
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