Check Out What Whales Are Doing With FCX
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on Freeport-McMoRan (NYSE:FCX) by a large investor or institution, as indicated by unusual options trading activity. The sentiment among these big-money traders is 80% bearish and 20% bullish. The whales have been targeting a price range from $36.0 to $45.0 for Freeport-McMoRan over the last 3 months. The price of FCX is currently up 4.36% at $41.65, and RSI indicators suggest the stock may be approaching overbought territory.
September 01, 2023 | 3:01 pm
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A large investor has taken a significant bearish stance on Freeport-McMoRan, indicated by unusual options trading activity. The sentiment among these traders is 80% bearish and 20% bullish. The stock price is currently up 4.36% at $41.65.
The bearish stance taken by a large investor or institution, as indicated by the unusual options trading activity, suggests that there may be a belief that the stock price will decrease in the near future. This could potentially lead to a sell-off, putting downward pressure on the stock price. The current price increase and the indication that the stock may be approaching overbought territory could further support this bearish outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100