Looking At Freeport-McMoRan's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
Unusual options activity has been observed for Freeport-McMoRan (NYSE:FCX), with a bearish stance taken by a large investor. The options scanner at Benzinga spotted 10 uncommon trades, split between 30% bullish and 70% bearish. The targeted price range for FCX over the last 3 months is $30.0 to $48.0. The current price of FCX is down -1.85% at $43.83. Citigroup and Morgan Stanley have downgraded their actions to Neutral and Equal-Weight respectively.
August 04, 2023 | 9:22 am
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NEGATIVE IMPACT
Unusual options activity observed for Freeport-McMoRan (FCX) with a bearish stance taken by a large investor. Citigroup and Morgan Stanley have downgraded their actions.
The unusual options activity, particularly the bearish stance taken by a large investor, indicates a potential negative impact on FCX's stock price. This is further supported by the downgrades from Citigroup and Morgan Stanley.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100