Mixed options sentiment in Freeport McMoRan (FCX), with shares up $1.28, or 2.53%, near $51.92. Options volume running well above average with 61k contracts traded and calls leading puts for a put/call ratio of 0.37, compared to a typical level near 0.4. Implied volatility (IV30) dropped 0.04 near 35.57,in the bottom quartile of the past year, suggesting an expected daily move of $1.16. Put-call skew steepened, indicating increased demand for downside protection.
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Read More on FCX:
- Freeport-McMoRan price target raised to $55 from $47 at Wells Fargo
- Mixed options sentiment in Freeport McMoRan with shares down 0.26%
- Moderately bullish activity in Freeport McMoRan with shares up 0.68%
- Freeport-McMoRan price target raised to $53 from $44 at Morgan Stanley
- Freeport-McMoRan: Strong Asset Portfolio and Growth Potential Justify Buy Rating Despite Jurisdictional Risks