Mixed options sentiment in Freeport McMoRan (FCX), with shares up 59c, or 1.05%, near $56.97. Options volume relatively light with 28k contracts traded and calls leading puts for a put/call ratio of 0.84, compared to a typical level near 0.59. Implied volatility (IV30) dropped 2.83 near 55.45, in the highest 10% of observations over the past year, suggesting an expected daily move of $1.99. Put-call skew flattened, suggesting a modestly bullish tone.
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