hockeysniper

Copper futures at 9 year highs, FCX SCCO HBM

Long
NYSE:FCX   FREEPORT-MCMORAN INC
Copper futures at 9 year highs and all time high is around $4.65, FCX is the world's largest publicly traded copper producer. It is following the price of commodity. Demand for copper from renewable sector is growing as new power generation capacity addition renewable energy (China/India).
Options - The March 19 $38 calls traded over 11000 times, over 34,000 in Open interest. The march put call ratio is .46.
April options put call ratio - .76, probably a pull back at some point after strong move friday.

Comments

Very nice setup 👍
+1 Reply
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