Looking At Freeport-McMoRan's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish 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 30% bullish and 70% bearish. The whales have been targeting a price range from $34.0 to $47.0 for Freeport-McMoRan over the last 3 months. The price of FCX is currently up 3.01% at $40.94, with RSI indicators suggesting the stock may be approaching overbought.
September 14, 2023 | 4:17 pm
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NEGATIVE IMPACT
Unusual options activity indicates a significant bearish stance on Freeport-McMoRan. The sentiment among big-money traders is 70% bearish, which could potentially impact the stock's price.
The unusual options activity and the bearish sentiment among big-money traders suggest that there is a significant expectation of a price drop for Freeport-McMoRan. This could potentially lead to a decrease in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100