mikeffi

FCX long call butterfly (bullish bias)

Long
BATS:FCX   Freeport-McMoRan, Inc
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FCX closed around resistance in yesterdays session and may be ripe for a slightly OTM call butterfly . Resistance at the higher end may be hit around $38. Enter only on breakthrough.

Update..long call Aug butterfly entered for 81c closed on Friday for 1.32 = profit 51c/share = 63%

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