22700 FCX Feb 7/8 put spreads went up in 2 blocks on the AMEX
Freeport McMoran Inc (FCX) is down .22 to 8.03 today.? FCX is near the bottom of the 52 week range.
- Paper traded 22700 FCX Feb 7/8 put spreads for .41. ?
- The ADV is 72k.?
- The OI is 11179 and 68666 contracts.
The volume went up in 2 blocks on the AMEX marked spread.? Closer to 60k contracts traded and it appears the customer is rolling down puts as FCX continues to drop.? The trade is either a straight long put buy or a protective position that they roll and take profits.? UA last profiled FCX puts on 11/03.
- IV 30 is trading for 72%.?
- HV10 is trading for 57%.?
- IV 30 is trading above the HV 10.
Freeport-McMoRan Inc. (FCX) is a natural resource company with an industry portfolio of mineral assets, oil and natural gas resources, and a production profile. FCX has organized its operations into six primary divisions: North America copper mines, South America mining, Indonesia mining, Africa mining, Molybdenum mines, and United States oil and gas operations.