Mixed options sentiment in Freeport McMoRan with shares up 1.47%

Mixed options sentiment in Freeport McMoRan (FCX), with shares up 96c, or 1.47%, near $66.53. Options volume relatively light with 35k contracts traded and calls leading puts for a put/call ratio of 0.78, compared to a typical level near 0.54. Implied volatility (IV30) dropped 1.61 near 53.43, in the highest 10% of observations over the past year, suggesting an expected daily move of $2.24. Put-call skew flattened, suggesting a modestly bullish tone.