Freeport-McMoRan Unusual Options Activity For July 24
Portfolio Pulse from Benzinga Insights
Unusual options activity has been observed for Freeport-McMoRan (NYSE:FCX), with a large position indicating a bullish stance. The sentiment among these big-money traders is split between 64% bullish and 35% bearish. The targeted price range for FCX over the last 3 months is from $34.0 to $55.0. The current price of FCX is up 3.67% at $42.1. Citigroup, Bernstein, and Morgan Stanley have downgraded their actions on FCX with price targets of $46, $41, and $38 respectively.
July 24, 2023 | 8:30 pm
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Freeport-McMoRan has seen unusual options activity, with a large position indicating a bullish stance. The stock's price is up 3.67% at $42.1. However, Citigroup, Bernstein, and Morgan Stanley have downgraded their actions on FCX.
The unusual options activity, particularly the large bullish position, indicates that there may be significant movement in the stock price of Freeport-McMoRan. However, the downgrades by Citigroup, Bernstein, and Morgan Stanley could potentially dampen this bullish sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100