Freeport-McMoRan (FCX) Offering Possible 5.49% Return Over the Next 19 Calendar Days

Freeport-McMoRan's most recent trend suggests a bearish bias. One trading opportunity on Freeport-McMoRan is a Bear Call Spread using a strike $33.00 short call and a strike $38.00 long call offers a potential 5.49% return on risk over the next 19 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $33.00 by expiration. The full premium credit of $0.26 would be kept by the premium seller. The risk of $4.74 would be incurred if the stock rose above the $38.00 long call strike price.

The 5-day moving average is moving down which suggests that the short-term momentum for Freeport-McMoRan is bearish and the probability of a decline in share price is higher if the stock starts trending.

The 20-day moving average is moving down which suggests that the medium-term momentum for Freeport-McMoRan is bearish.

The RSI indicator is at 27.63 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here

LATEST NEWS for Freeport-McMoRan

[$$] Encana to Buy Athlon Energy for $5.93 Billion
Tue, 30 Sep 2014 04:43:22 GMT
The Wall Street Journal – Encana on Monday said it has agreed to acquire Texas-based Athlon Energy Inc. for $5.93 billion, giving the Canadian company a large land position in the state's oil-rich Permian Basin.

[$$] Freeport Halts Activities at Indonesian Mine After Four Workers Die
Sun, 28 Sep 2014 15:13:34 GMT

[$$] Indonesia Mine Halts Production After Fatal Crash
Sat, 27 Sep 2014 10:57:41 GMT

Open-pit mining suspended after four killed at Freeport Indonesia's copper mine
Sat, 27 Sep 2014 06:08:02 GMT

Why Freeport-McMoRan (FCX) Stock Is Declining in Pre-Market Trading Today
Thu, 25 Sep 2014 13:22:00 GMT

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