In recent options activity, large investors have exhibited a markedly bearish outlook towards Freeport-McMoRan (FCX). An analysis of options trades over the last 30 days indicates that a substantial majority (81%) of investors have initiated bearish trades. This negative sentiment is further supported by projected price targets for FCX ranging from $48.0 to $60.0.
Among the significant trades identified was a bullish put trade expiring on May 17, 2024, with a strike price of $50.00 and a total trade price of $114,000. Conversely, a bearish call trade expiring on April 26, 2024, with a strike price of $48.00 and a total trade price of $66,500, also caught our attention.
It is important to note that options trading carries a higher level of risk compared to traditional stock trading but also offers the potential for greater returns. Options traders should approach this market with caution and engage in thorough research and risk management strategies.
