Mixed options sentiment in Freeport McMoRan (FCX), with shares up 90c, or 1.78%, near $51.70. Options volume running well above average with 72k contracts traded and calls leading puts for a put/call ratio of 0.23, compared to a typical level near 0.39. Implied volatility (IV30) dropped 1.46 near 38.64,and below the 52wk median, suggesting an expected daily move of $1.26. Put-call skew steepened, indicating increased demand for downside protection.Looking ahead: Freeport McMoRan (FCX) will report earnings after the close on None.Option markets are pricing in a 50% probability of a move greater than 0.0% or $0.00.
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