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.
BAC down to 3 dollars C down to 1 dollar GS low at 50, MS low at 11 and a couple years later look at them today. All stock go thru phases of correction. Do you remember when the energy sector blew up and HAL was down to 8 bucks and WMB was 1 dollar today WMB is at 50 and HAL split a couple times and is still at 45. Give FCX a couple years and it will be back to 50. Now go get yr self a #$%$ and a bottle of rum and wake up 2 years from now. For now buy finiancials they are headed up. FCX is long term for now.
once the projects are completed which they are almost in every area of their business and the capital expenditure drops and their cash flow increases and they pay out dividends you folks will be tripping over each other to get in. Every industry goes thru these cycles once every 2 to 3 years. Al the miners are beat up so bad their stocks are trading below book value. Now financials are in vogue but once they get valued then the techs will take a dump or some other sector. Have a nice evening.
this company has way much asset and earnings than AA and is trading at the same price as AA. The investors
have thrown the baby out with the bath tub. It will bounce back as there will be short covering.