| Huge downside trade hits Freeport | |
| | |
|
A huge trade is positioning for even more potential declines in Freeport-McMoRan.
optionMONSTER's Depth Charge system shows that 67,734 February 6 puts were sold for $0.72 and 67,734 February 5 puts were bought for $0.42 yesterday. Volume was below open interest in the higher strike, indicating that a bearish position was rolled lower.
Long puts lock in the price where a stock can be sold no matter how far it might drop, gaining value in a selloff. The contracts can be purchased either as an outright bearish bet or a hedge on a long-stock position . (See our Coaching section)
FCX rose 0.93 percent to $6.52 yesterday. The mining and energy company is down 43 percent in the last three months and 72 percent on the year. Its next quarterly results are estimated for Jan. 27.
Total option volume in the name reached 198,000 yesterday, quadruple its daily average for the last month. Overall puts outnumbered calls by more than 4 to 1.
More From optionMONSTER
|
|
|
VanEck Vectors Global Alternative Energy ETF
|
|
PRODUCER |
CODE : FCX |
ISIN : US35671D8570 |
|
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Freeport McMoran is a copper and gold producing company based in United states of america. Freeport McMoran produces copper, gold, cobalt, molybdenum and silver in Chile, in Congo Dem. Rep. of, in Indonesia and in Peru, develops copper in Peru, and holds various exploration projects in Chile. Its main assets in production are CANDELARIA, EL ABRA, CHINO - MILL, HENDERSON, MIAMI - ROM LEACH, MORENCI - MILL, OJOS DEL SALADO, MORENCI and MORENCI - ROM LEACH in Chile, GRASBERG, SIERRITA and BAGDAD in Indonesia, TENKE FUNGURUME and TYRONE in Congo Dem. Rep. of and CERRO VERDE in Peru, its main asset in development is SAFFORD in Peru and its main exploration properties are BAGDAD - ROM LEACH and CHINO - ROM LEACH in Peru and CERRO VERDE - MILL, CERRO VERDE - CRUSHED LEACH, CERRO VERDE - ROM LEACH, EL ABRA - ROM LEACH and CLIMAX in Chile. Freeport McMoran is listed in Germany and in United States of America. Its market capitalisation is 2.4 billions as of today (€ 2.1 billions). Its stock quote reached its lowest recent point on March 06, 2020 at 10.00, and its highest recent level on October 10, 2024 at 49.54. Freeport McMoran has 47 442 200 shares outstanding. |