Paper traded the FCX Mar 18 8.5 put over the Mar 24 Weekly 9 put for .36.?
Shares of Freeport Mcmoran Inc (FCX) are down .77 to 9.20 today.? FCX is near the lower end of the 52 week range.
- Paper traded the FCX Mar 18 8.5 put over the Mar 24 Weekly 9 put for .36.?
- The ADV is 97k contracts.?
- The OI is 10736 and 581.
The trade went up? on the PHLX marked spread.? This trader appears to sell out the Mar 8.5 puts and roll up to Mar 24 weekly 9 puts looking for a move down.? The 8.5 puts were most likely a loss so they are reloading to catch a swing down in the Mar? 24 cycle.? This trade could be against stock as FCX made a run from the mid-$4 range and has held these levels recently.
- IV30 is 89%
- HV10 is 109 % ?
- The implied volatility is trading at a discount to the realized volatility.
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.