Freeport-McMoRan Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bullish stance has been taken on Freeport-McMoRan (NYSE:FCX) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split between 71% bullish and 28% bearish. The whales have been targeting a price range from $33.0 to $65.0 for Freeport-McMoRan over the last 3 months. The current price of FCX is down -1.7% at $41.66. Morgan Stanley has downgraded its action to Equal-Weight with a price target of $38.
August 11, 2023 | 4:15 pm
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NEUTRAL IMPACT
Unusual options activity indicates a significant bullish stance on Freeport-McMoRan (FCX). The current price is down -1.7% at $41.66. Morgan Stanley has downgraded its action to Equal-Weight with a price target of $38.
The unusual options activity indicates that a large investor is bullish on FCX, which could potentially drive the stock price up in the short term. However, the current price is down and Morgan Stanley has downgraded its action to Equal-Weight with a price target of $38, which is lower than the current price. This could potentially have a negative impact on the stock price. Therefore, the short term price direction is neutral.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100