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FCX

$AKS 161216C$10.50 BTO Calls@market open 121216 +161223C$12.00- Been swinging Call Options on AKS since week end 11616; Purchased 4 Calls (Strike Price 10.50) on the Market Open Monday AM w/ a Limit Order price of .29. - Averaged down w/ purchase of 6 more Contracts the following day w/ Lower Low (Consolidation) being set in @ limit price of .15. Held position - FED Hike in hopes of a Market/Metals Rally to no avail. - Holding 10 Call Contracts Avg. Price of .22 per and looking to match the gains failed to realize pre-hike at the least. - Looking to sell to Close the contracts on or near loss of 10, 20, 100 period MA w/ the 30 minute Chart Setup. - Do Believe After Hours activity will have all 3; including the EMA 4 & 8 period Moving Averages as support on the open. - If the 4period EMA has not crossed the 8 period EMA to the Upside; I will look to hold position until it does. - Slight chance on the 30 Minute Chart of a 50 period and 200 period Golden Cross(I believe so anyways); but WILL not Hold thru Friday 12/16/16 in hopes of seeing additional gains should it not occur Thursday 12/15/16. - Trade setup for following week or upon Total Gains >= 400% put in place w/ weakness following FED Hike and possible profit taking from medium/long term traders: - In lieu of adding more contracts to this weeks position, purchased a total of 10 Call Contracts w/ - AKS w/ a $12 Strike Price expiring 122316 for a .08 per. If further weakness occurs - End of Week, willing to add but ONLY if it AVG. Down my Call Contract prices (.09 after commission). As stated previously have been swinging, successfully mostly, this Ticker since one week following the election, along w/ AMD, CLF, VALE, RYI, FCX.
A
by CaseybPoole
FCX On Verge Of Dropping 21%FCX is on the verge of dropping 21%. Investors need to take note of these this major factor that dictates price action. Notice on the stock chart below, how over the last two weeks Freeport-McMoRan has been unable to make new highs while the stock market has made multiple new all-time highs. In addition, the stock chart over those same two weeks has a clear bear flag pattern formation. This usually forms when small investors are buying but big institutional traders are gently selling into them, dumping shares. All in all, these are huge bearish signals on the Freeport-McMoRan and investors should be selling or shorting the stock heavily. The first target to the downside is $13.20, a net profit from the current price of 14% for shorts. The second target is $12.10, a net profit for shorts of 21%. This trade will likely play out in the next six weeks, if not sooner. View all of my trades VERIFIED right here: verifiedinvesting.com
NYSE:FCXShort
by AnnabelleTrader
NEXT WEEK'S COVERED CALL CANDIDATES: ZIOP, NVAX, LC, WLLHere's my "short list" for covered call candidates for next week generated by looking at Barcharts.com high volatility stock options list and the Dough grid: WLL buy shares at 7.66; sell Sept 16th 8 call; 7.10 debit; $90 max profit (12.7% ROC) CC buy shares at 11.45; sell Sept 16th 12 call; 10.78 debit; $122 max profit (10.6% ROC) LC buy shares at 5.40; sell Oct 21st 5.5 call; 4.85 debit; $65 max profit (13.4% ROC) ZIOP buy shares at 5.46; sell Oct 21st 6 call; 4.65 debit; $135 max profit (29.0% ROC) NVAX buy shares at 7.04; sell Oct 21st 8 call; 5.42 debit.; $258 max profit (47.6% ROC) FCX buy shares at 11.92; sell Sept 30 12 call; 10.90 debit; $102 max profit (9.3% ROC) JCP buy shares at 10.55; sell Sept 30th 11 call; 9.59 debit; $96 max profit (9.6% ROC) Notes: (1) WLL's a petro play. Because so many small petro companies are in trouble of one kind or another (i.e., shale and/or offshore oil exploration exposure), I generally prefer playing something with a little less "single company exposure" (e.g., XOP). But, hey, it meets my general rule of >10% ROC. (2) CC is a basic materials/chemical play. It spun off from DuPont and has had quite an up run here in spite of a recent punitive damages judgment for chemical dumping (weirdly, the stock dipped and then subsequently popped on the news, probably out of relief that the debacle was in the rear view mirror). (3) LC's been in a downtrend since IPO. At best, a money, take, run play. (4) I still like ZIOP. It's biopharma and has a fairly diverse pipeline such that if one drug fails, they still have more in the hopper. And that 29% ROC, well ... drop dead gorgeous if it can get to $6. (5) I'm also in NVAX (biopharm). In comparison to ZIOP, their pipeline is quite narrow and currently devoted to a single vaccine (RSV). sg.finance.yahoo.com (vaccine "could be breakthrough," but not time to "break out the champagne" (code for "it could suck ... or not")). (6) FCX (mining). I covered called this in late 2015, early 2016 which commodities were at a cyclical low and then bailed out when it appeared to be topping. Looking back, it kind of looks pricey here in comparison, and I'm not so hot on the ROC. However, it's highly liquid, and it has some room to pop to 14.00 resistance (and naturally some room to cave; the 2016 low is sub-$4). (7) JCP. Well, it's JCP. Plus, it's had a bit of a run up here, and if past performance is indicative of future results, well, it could zombie trade back to sub-$9 and with the ROC, well, not at the top of my list ... .
WLong
by NaughtyPines
NOTABLE HIGH IV STOCKS WITH IV > 50%1. P, 79% 2. FCX, 76% 3. X, 75% 4. TWTR, 67% 5. STX, 57% 6. ABX, 56% 7. NFLX, 56% 8 GG, 53% 9. SLW, 52% Naturally, we are coming into earnings season here, so there's a reason that some of these have high IV here (e.g., NFLX announces in a week and a half). Ordinarily, I like IV to be >50% and IVR (current IV's level relative to where it's been for the past 52 weeks to be high, too), but I may not find a great deal of 70%+ IVR plays here with broad market volatility so low (VIX finished the week below 15). Neverthless, it may be worthwhile to churn through this small list for premium selling plays (iron condors, short strangles, short straddes), assuming there's sufficient time before earnings to sneak a play in. Otherwise, it's probably best just to wait to do the standard volatility contraction play surrounding earnings ... .
P
by NaughtyPines
3
AUDCAD: Interesting spread between copper and oilWe have a very interesting setup derived from the spread between oil and copper, also present in CADUSD and AUDUSD, due to the correlations with these instruments. You can enter longs in AUDCAD and FCX, and short oil (be it CFDs, futures, ETFs, take your pick). You could replace by copper CFDs or futures as well, but FCX just happens to have a nicer looking chart. We discussed this setup in the KHL chatroom earlier today. Check out my updated track record here: pastebin.com If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year. Cheers! Ivan Labrie Link to Tim West's chatroom: www.tradingview.com We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask. Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance0.57% on such information.
FX:COPPERLong
by IvanLabrie
6
Recap and update on FCXNYSE:FCX My update for FCX, I mentioned this stock as an idea for short. the trade is a daily trade, the stock is still weak. Stock is forming now what's called mashroum over shape or in other hands H&S shape The stock hits the resistance at point (A) and the low of point (B) both are strong resistance , we might see an upthrust tomorrow meaning making new high and close near the low. If we see the upthrust that will confirm on the daily the stock is in distribution phase.
NYSE:FCX
by Stroggwars.
Gold Surprises as Dollar Gets Monkey-Hammered LowerIn " Gold Leaps Higher as Worries Mount ," I briefly pointed out how those very same institutions that championed quantitative easing policies implemented by the Federal Reserve are now coming out to proclaim quantitative easing added no substantial benefit to the real economy . Gold was pushed lower on the assumption that central banking policy would all pan out and that the U.S. would finally achieve escape velocity; but the exact opposite is occurring. Despite the near 12 to 16 months of absolutely horrendous, even recessionary data, market participants believed that if the Fed began to tighten monetary policy then the economy must be alright. Central bankers,misguided by classroom academics and abhorrent to real world economic dynamics, believe that if you tinker with interest rates that somehow inflation will magically begin to rise. Not so because it is real, meaningful growth that produces inflation; and it is more evident now that the these policies do not produce meaningful growth. I mapped out the dollar's downward trajectory, which was largely based on the floundering economy and the inability for the Fed to take action that will pop asset inflation. I still believe this is based on the above factors and that the dollar will likely gather strength as the US slips into deflation. Traders and CNBC pundits think that if deflation takes hold then gold will surely decline into the abyss. And just like their "lower gas prices equal booming consumer spending" myth, gold falling off a cliff during deflation is just as preposterous. Gold is unique in that if can act like an insurance policy against both sides of tail risk (inflation and deflation). It is well-known that gold had a massive bull run when stagflation took hold of the US during the 1970s. Inflation ran amok. However, nobody mentions that gold tripled, in inflation-adjusted dollar terms, during the early 1930s (the Great Depression) prior to President Roosevelt outlawing the private ownership of gold. As I wrote last April: " There is an assumption that the dollar and gold’s performance is strictly inverse of one another, but that is not so. The WGC (World Gold Council) indicates that between early 2014 and March 20, 2015, the dollar has gained over 20 percent while gold only fell 1.2 percent. Historically, gold prices more than double on a weak dollar than it falls on a stronger dollar. Thus, a stronger dollar is not indicative of massive gold depreciation. When the dollar declines, gold has appreciated 14.9 percent. Yet, when the dollar strengthens, gold has only fallen by 6.5 percent, according to the WGC. " If you look at this chart, you will notice one thing: gold sure looks to trend with the SPX. There is an argument that this due to simple asset inflation. Notice the massive divergence began when gold began to top in 2011. The divergence is what I call the "perception" gap. I expect that divergence to close. It's no secret that I was right about the volatility of 2015, along with other key macro trends. I believe by the end of 2016 and 2017 is when the real fireworks begin. Gold's recent move has been huge, and, of course, there will be profit taking. But those who follow me know that the underlying fundamentals for gold has been strengthening for some time. (Note: the gold chart is the same I used in the above mentioned gold idea, but the minor uptrend (along with new resistance) were added). Please follow me @lemieux_26 and check out my other ideas, which have links to previous writings.
COMEX:GC1!
by CommoditiesTrader
11
Put premium selling opportunity in FCXI am by no means an expert programmer or technician, but what I have been noticing with FCX is a relatively consistent pattern where option premium sellers have a great opportunity for enhanced success. Rules: - On a 4 hour chart with Keltner channels, Bollinger Bands in the upper indicator and CM_WVF_v3_Ult in the lower indicator 1) When CM_WVF is in GREEN, and 2) Price is outside the KC 3) When price reenters the KC initiate the following transaction: Sell Put or Put spread with the closest strike at the lower Bollinger Band. Days to expiry = 30 days Within the past 6+ months, that signal has occurred 5 times with all expiring OTM, and once was there a touch. The setup in FCX is near again - Green CM_WVF and price is outside the KC. Stay tuned...
NYSE:FCX
by BobBilkovski