Moderately bullish activity in Freeport McMoRan (FCX), with shares up 84c, or 1.39%, near $61.45. Options volume relatively light with 32k contracts traded and calls leading puts for a put/call ratio of 0.42, compared to a typical level near 0.63. Implied volatility (IV30) dropped 0.09 near 48.51,and above the 52wk median, suggesting an expected daily move of $1.88. Put-call skew flattened, suggesting a modestly bullish tone.
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