Call Options on FCX on 4/19/2021

Freeport-McMoRan Inc. (FCX) engages in the mining of mineral properties in North America, South America, and Indonesia.

The company primarily explores for copper, gold, molybdenum, silver, and other metals, as well as oil and gas.

Its assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Tyrone and Chino in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.

The company also operates a portfolio of oil and gas properties primarily located in offshore California and the Gulf of Mexico. As of December 31, 2020, it operated approximately 165 such wells.

Shares have formed a double bottom formation and are expected to continue to move higher. The firm reports on April 22nd. Estimates call for an EPS of 57 cents per share on revenue of $4.82 billion.

Last Trade: $38.14

Trading Range: $7.30 to $39.10

We will trade May 14th call options

Trade Buy 1 May $37.50 Call at $2.25 For a net debit of $2.25 Profit/Loss Analysis Breakeven at $39.75 Maximum profit is unbounded Maximum loss is ($225.00) at strike of $37.00 Closing Summary Sold 1 May $37.50 Call at $4.60

Position closed on 5/14/2021 at price of $4.60 with a 104.44% gain in 25 days.

Updates

5/14/2021 12:17:32 PM

FCX call option closed at $4.60

Back to Portfolio