While I am long the stock and long December $100/$110 call spreads, it would not surprise me to see FCX trade down to its 20-DMA of $94.75 before the next major leg higher.If it DOES break $95, I'm a buyer of calls big time.
Hmmm . . not sure where you are getting that number. This is where I get mine:http://stockcharts.com/h-sc/ui?s=FCX&p=D&b=5&g=0&id=p30295820863&a=213679293
My bad, must have had my curser on the wrong date. Looks like the correct number was $97.57 heading into today.http://finance.yahoo.com/echarts?s=FCX+Interactive#chart1:symbol=fcx;range=6m;indicator=sma(50,20)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
My Quotetracker chart agrees with you Mary - $97.94. FCX could get there easily in a day or two. The price could also head to the lower bollinger band. Or it could head higher.