Freeport McMoRan call activity attributed to takeover speculation
FLY ON THE WALL 7:14 AM ET 5/14/2015
Symbol Last Price Change
FCX 22.71down +0.1 (+0.44%)
QUOTES AS OF 12:06:55 PM ET 05/14/2015
Freeport McMoRan (FCX) May 23 and 23.5 calls are active on total call volume of 14K contracts (1K puts) on takeover speculation. May call option implied volatility is at 34, June is at 40, October is at 38; compared to its 26-week average of 40. Active option volume suggests traders taking positions for wide price movement.