FCX Freeport-McMoRan Options Ahead of EarningsAnalyzing the options chain and the chart patterns of FCX Freeport-McMoRan prior to the earnings report this week,
I would consider purchasing the 50usd strike price Calls with
an expiration date of 2024-11-15,
for a premium of approximately $1.49.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Freeportmcmoran
FCX Freeport-McMoRan Options Ahead of EarningsAnalyzing the options chain and the chart patterns of FCX Freeport-McMoRan prior to the earnings report this week,
I would consider purchasing the 38usd strike price at the money Puts with
an expiration date of 2024-2-2,
for a premium of approximately $1.29.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Freeport McMoran Strong Future PositionFreeport-McMoRan's relatively strong position
significant producing assets in the U.S.
and Indonesia and expansion opportunities
puts it in a somewhat stronger position. In short,
the outlook for copper prices is good
They are forecasting steady annual sales growth.
2023 is expected to be an even stronger year than 2022, and
2024 is expected to be weaker but still stronger than 2021.
This provides a runway for significant sales improvement
for the company and continuous income for the company in the upcoming years
12/26/21 FCXFreeport-McMoRan, Inc. ( NYSE:FCX )
Sector: Non-Energy Minerals (Other Metals/Minerals)
Market Capitalization: 60.381B
Current Price: $41.13
Breakout price: $41.60
Buy Zone (Top/Bottom Range): $39.00-$36.75
Price Target: $45.90-$46.20
Estimated Duration to Target: 71-80d
Contract of Interest: $FCX 3/18/22 45c
Trade price as of publish date: $1.93/contract
🐂 Freeport FCX inflation trade - Bullish flagHi mates NYSE:FCX is perfect setup for long in bullish flag
here is data for my trade:
------------------------Trade setup ---------------------------
Entry: 33.80
Stop Loss: 32.45
Profit target: 43.60
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Freeport w43 2020. Buy on positive earnings Q3 up to 20$Flat correction in Downtrend
Weekly
Reversal and Uptrend
Daily
Strong Uptrend
Price in 5th Elliot wave.
Looking for pullback and open position.
Positive earnings on Q3 will help to continue uptrend with steam
It is little bit risky active due to has Debt/Equite=1.1
However Freeport has other attractive financial stats, looking comptetive in sector "Cooper".
Variant conservative
Open 18
TP 20
SL 17
Positive with breakout
Open 18$
SL 14$
TP 35$
Freeport w43 2020. Buy on positive earnings Q3 up to 20$Montly
Flat correction in Downtrend
Weekly
Reversal and Uptrend
Daily
Strong Uptrend
Price in 5th Elliot wave.
Looking for pullback and open position.
Positive earnings on Q3 will help to continue uptrend with steam
It is little bit risky active due to has Debt/Equite=1.1
However Freeport has other attractive financial stats, looking comptetive in sector "Cooper".
Open 18
TP 20
SL 17
FCX Breaking Out - Weekly ChartFreeport-McMoran is attempting to break out of a bullish wedge pattern. There is a lot of options activity in this name with the February 21 $14 and the December 13 $12.50 calls. Note the bullish divergence just prior to its recent bullish move.
We want to see the stock hold above the break out level. If the price can hold I am targeting $13.90 as my initial price target.