Mixed options sentiment in Freeport McMoRan (FCX), with shares up 30c, or 0.5%, near $61.17. Options volume relatively light with 9242 contracts traded and calls leading puts for a put/call ratio of 0.77, compared to a typical level near 0.55. Implied volatility (IV30) dropped 0.64 near 49.96,in the top quartile of the past year, suggesting an expected daily move of $1.93. Put-call skew steepened, indicating increased demand for downside protection.
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Read More on FCX:
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