Trader makes big bet on Freeport-MoMoRan
An option trader made a big bet Wednesday on shares of Freeport-McMoRan (FCX). A single trade of 5,454 contracts moved at 11:38 this morning against open interest of 246 contracts. Pricing on that trade was high in the bid-ask spread at the time, indicating it was likely opened from the buy side.
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About Freeport-McMoRan Inc.
Freeport-McMoRan Inc mines more copper than any other publicly traded company in the world. Its assets include the Indonesian Grasberg mining complex, the world's largest copper and gold mine in terms of recoverable reserves. Freeport also has significant mining operations in the Americas.