Mixed options sentiment in Freeport McMoRan (FCX), with shares down $1.50 near $58.47. Options volume running well above average with 50k contracts traded and calls leading puts for a put/call ratio of 0.36, compared to a typical level near 0.45. Implied volatility (IV30) dropped 1.07 near 43.05,and above the 52wk median, suggesting an expected daily move of $1.59. Put-call skew steepened, indicating increased demand for downside protection.Looking ahead: Freeport McMoRan (FCX) will report earnings before the open on 2026-01-22.Option markets are pricing in a 50% probability of a move greater than 3.32% or $1.94.
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