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Traders are looking for share of Freeport-McMoRan to pop this week.
optionMONSTER's Heat Seeker detected the purchase of more than 4,000 Weekly 21 calls expiring on Friday for $0.05 to $0.17 this morning. This represents new positions, as volume is quadruple the strike's open interest of 1,011 contracts.
These long calls lock in the price where the stock can be purchased, gaining with a rally and providing leverage to the underlying shares. But the contracts can quickly lose value if the stock stalls or pulls back. (See our Education section)
This follows the purchase of more than 11,000 November 22 calls on June 9 .
FCX is up 3.68 percent to $20.85 in early trade, heading back toward its 50-day moving average. The mining and energy company is down nearly 14 percent this year but is trying to break out of a tight range that has been in place for the last month.
The next quarterly results are expected in the second half of July. Total FCX calls are outpacing puts by more than 3 to 1 so far today.
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Freeport McMoRan Copper and Gold Inc.
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PRODUCER |
CODE : FCX |
ISIN : US35671D8570 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Freeport McMoran is a gold and copper producing company based in United states of america. Freeport McMoran produces gold, copper, cobalt, molybdenum and silver in Chile, in Congo Dem. Rep. of, in Indonesia and in Peru, develops copper in Peru, and holds various exploration projects in Chile. Its main assets in production are CANDELARIA, EL ABRA, CHINO - MILL, HENDERSON, MIAMI - ROM LEACH, MORENCI - MILL, OJOS DEL SALADO, MORENCI and MORENCI - ROM LEACH in Chile, GRASBERG, SIERRITA and BAGDAD in Indonesia, TENKE FUNGURUME and TYRONE in Congo Dem. Rep. of and CERRO VERDE in Peru, its main asset in development is SAFFORD in Peru and its main exploration properties are BAGDAD - ROM LEACH and CHINO - ROM LEACH in Peru and CERRO VERDE - MILL, CERRO VERDE - CRUSHED LEACH, CERRO VERDE - ROM LEACH, EL ABRA - ROM LEACH and CLIMAX in Chile. Freeport McMoran is listed in Germany and in United States of America. Its market capitalisation is US$ 71.8 billions as of today (€ 67.5 billions). Its stock quote reached its lowest recent point on March 06, 2020 at US$ 10.00, and its highest recent level on April 19, 2024 at US$ 49.61. Freeport McMoran has 1 448 000 000 shares outstanding. |