Hate it when something good hurts .... by taking the wind out of the PXP premium to bid and giving nothing to FCX, by the time the deal closes it will be a distant memory with pundits saying it is priced in.
I was looking to sell covered call in PXP but bid/ask spread is pretty wide. May sell covered calls in FCX. With Phobos out, does anyone see any short term catalyst in FCX other than copper/gold prices? I don't expect to hear anything from MMR on LC, DJ, etc. I am waiting to hear back from IR on when the earnings are coming out. They are overdue.