Looking At Freeport-McMoRan's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant amount of unusual options activity has been observed for Freeport-McMoRan (NYSE:FCX), with a bearish stance being taken by a majority of investors. The price range targeted by these investors over the last 3 months is between $28.0 and $47.0. The current price of FCX is down -0.64% at $34.2. Analysts from Morgan Stanley and BMO Capital have maintained their ratings on FCX, while JP Morgan has downgraded its action to Neutral.
October 25, 2023 | 4:31 pm
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Freeport-McMoRan has seen unusual options activity, with a bearish stance being taken by a majority of investors. The price range targeted by these investors over the last 3 months is between $28.0 and $47.0. The current price of FCX is down -0.64% at $34.2.
The bearish stance taken by a majority of investors in the options market could potentially drive the price of FCX down in the short term. The current price is already down -0.64% and the targeted price range indicates a potential for further decrease. Additionally, the downgrade by JP Morgan could also negatively impact the stock price.
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IMPORTANCE 80
RELEVANCE 100