📊 Signal Metrics & Confirmation
State: EARLY_CONFIRMATION
Current Spot Price: $75.39
RSI (14): 60.50
Signal Return: +3.86%
MFE / MAE: MFE 4.51% / MAE 1.81%
🎯 Option Contract Details
Contract: 75.00P · Expiring 18-Dec-2026
Delta: -0.430
DTE (Days to Expiration): 109
Bid/Ask Spread: 4.00%
Open Interest (OI): 452
Reasoning:
The BEARISH signal entered EARLY_CONFIRMATION within just 2 trading sessions as FCX pulled back from $78.42 to $75.39, delivering a +3.86% return. The MFE of 4.51% significantly outpaces the MAE of 1.81%, demonstrating strong early downside momentum.
However, an RSI of 60.50 and the gap between the peak MFE and the current return suggest potential short-term bounce risks.
Contract Quality: Excellent structural setup with 109 DTE, low relative theta decay, an acceptable 4% bid/ask spread, and an OI of 452.
Open Interest & Gamma Profile: The $80 Call Wall provides immediate upside resistance close to spot, while the primary Put Wall is sitting far below at $60. Balanced Put/Call ratios show neutral-to-moderate derivative confirmation.
Catalysts & Flow: Form 144 insider sales offer moderate fundamental backing, though a recent analyst coverage initiation with a "Buy" rating partially tempers the downside bias.
Summary: The solid early price action and favorable options metrics justify considering the setup, though disciplined risk management is required against potential mean-reversion.
State: EARLY_CONFIRMATION
Current Spot Price: $75.39
RSI (14): 60.50
Signal Return: +3.86%
MFE / MAE: MFE 4.51% / MAE 1.81%
🎯 Option Contract Details
Contract: 75.00P · Expiring 18-Dec-2026
Delta: -0.430
DTE (Days to Expiration): 109
Bid/Ask Spread: 4.00%
Open Interest (OI): 452
Reasoning:
The BEARISH signal entered EARLY_CONFIRMATION within just 2 trading sessions as FCX pulled back from $78.42 to $75.39, delivering a +3.86% return. The MFE of 4.51% significantly outpaces the MAE of 1.81%, demonstrating strong early downside momentum.
However, an RSI of 60.50 and the gap between the peak MFE and the current return suggest potential short-term bounce risks.
Contract Quality: Excellent structural setup with 109 DTE, low relative theta decay, an acceptable 4% bid/ask spread, and an OI of 452.
Open Interest & Gamma Profile: The $80 Call Wall provides immediate upside resistance close to spot, while the primary Put Wall is sitting far below at $60. Balanced Put/Call ratios show neutral-to-moderate derivative confirmation.
Catalysts & Flow: Form 144 insider sales offer moderate fundamental backing, though a recent analyst coverage initiation with a "Buy" rating partially tempers the downside bias.
Summary: The solid early price action and favorable options metrics justify considering the setup, though disciplined risk management is required against potential mean-reversion.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.