Mixed options sentiment in Freeport McMoRan (FCX), with shares down $2.63 near $60.38. Options volume running well above average with 71k contracts traded and calls leading puts for a put/call ratio of 0.21, compared to a typical level near 0.55. Implied volatility (IV30) dropped 0.74 near 50.44,in the top quartile of the past year, suggesting an expected daily move of $1.92. Put-call skew steepened, indicating increased demand for downside protection.
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