Mixed options sentiment in Freeport McMoRan (FCX), with shares up $4.36, or 7.17%, near $65.11. Options volume running well above average with 23k contracts traded and calls leading puts for a put/call ratio of 0.55, compared to a typical level near 0.82. Implied volatility (IV30) dropped 4.58 near 52.28,in the top quartile of the past year, suggesting an expected daily move of $2.14. 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.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FCX:
- Trump Trade: U.S. strengthens tariffs on steel, aluminum, copper imports
- White House strengthens tariffs on steel, aluminum, and copper imports
- Wingstop upgraded, Wix downgraded: Wall Street’s top analyst calls
- Goldman Sachs starts Freeport-McMoRan at Buy, sees higher commodity prices
- Freeport-McMoRan initiated with a Buy at Goldman Sachs