Freeport McMoRan Shares Rise 2.07%
Moderately bullish activity in Freeport McMoRan (FCX), with shares up $1.27, or 2.07%, near $62.90. Options volume relatively light with 50k contracts traded and calls leading puts for a put/call ratio of 0.29, compared to a typical level near 0.54. Implied volatility (IV30) is higher by 1.6 points near 58.03, in the highest 10% of observations over the past year, suggesting an expected daily move of $2.30. Put-call skew steepened, indicating increased demand for downside protection.
