Mixed options sentiment in Freeport McMoRan (FCX), with shares up 10c, or 0.15%, near $65.20. Options volume relatively light with 8868 contracts traded and calls leading puts for a put/call ratio of 0.09, compared to a typical level near 0.82. Implied volatility (IV30) dropped 0.25 near 51.8,in the top quartile of the past year, suggesting an expected daily move of $2.13. Put-call skew steepened, indicating increased demand for downside protection.Looking ahead: Freeport McMoRan (FCX) will report earnings before the open on 2026-04-23.Option markets are pricing in a 50% probability of a move greater than 5.14% or $3.35.
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