Freeport-McMoRan Unusual Options Activity For September 22
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 split between 40% bullish and 60% bearish. The whales have been targeting a price range from $30.0 to $45.0 for Freeport-McMoRan over the last 3 months. Morgan Stanley has maintained their Equal-Weight rating on Freeport-McMoRan, with a price target of $44.
September 22, 2023 | 8:15 pm
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Unusual options activity indicates a significant bearish stance on Freeport-McMoRan. The sentiment among big-money traders is more bearish than bullish. Morgan Stanley maintains an Equal-Weight rating with a price target of $44.
The unusual options activity, with a significant bearish stance, indicates that large investors expect the price of FCX to decrease. This could put downward pressure on the stock price in the short term. Morgan Stanley's Equal-Weight rating suggests they see the stock as fairly valued at current levels.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100