Mixed options sentiment in Freeport McMoRan with shares up 3.5%

Mixed options sentiment in Freeport McMoRan (FCX), with shares up $1.59, or 3.5%, near $47.19. Options volume running well above average with 73k contracts traded and calls leading puts for a put/call ratio of 0.48, compared to a typical level near 0.69. Implied volatility (IV30) dropped 1.81 near 38.64,and above the 52wk median, suggesting an expected daily move of $1.15. Put-call skew flattened, suggesting a modestly bullish tone.Looking ahead: Freeport McMoRan (FCX) will report earnings before the open on 2025-07-23.Option markets are pricing in a 50% probability of a move greater than 4.0% or $1.89.