Paper traded 7717 FCX May 12/14 calls for .55 over .16. ??
Shares pf Freeport-McMoran (FCX) are down .07 to 10.74 today.? FCX is near the lower end the 52 week range.
- Paper traded 7717 FCX May 12/14 calls for .55 over .16. ??
- The ADV is 94k contracts.? ?
- The open interest is 17999 on the May 12s and 5347 on the May 14s.
The volume went up on the CBOE marked spread.? This trade as priced looks like a cover on the May 12s and open on the 14s.? If so the trader is selling to open the 14s for .16 which would be a very low yield.? Most likely this is an open to buy since the May 12s trade through the posted offer at the time. ??Check the OI to confirm the bullish intent.
- IV 30 is trading for 74%.?
- HV10 is trading for 79%.?
- IV 30 is below 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.