Freeport-McMoRan (FCX) Offering Possible 8.46% Return Over the Next 16 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 $28.00 short call and a strike $33.00 long call offers a potential 8.46% return on risk over the next 16 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $28.00 by expiration. The full premium credit of $0.39 would be kept by the premium seller. The risk of $4.61 would be incurred if the stock rose above the $33.00 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 30.07 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

Freeport Wraps Up Sale of Candelaria Mine Stake for $1.8B
Tue, 04 Nov 2014 22:20:02 GMT

Freeport-McMoRan Completes Sale of Its Interests in Candelaria/Ojos for $1.8 Billion in Cash
Mon, 03 Nov 2014 20:00:00 GMT
Business Wire – Freeport-McMoRan Inc. announced today that it has completed its previously announced sale of its 80 percent ownership interest in the Candelaria/Ojos del Salado copper mining operations and supporting infrastructure to Lundin Mining Corporation for cash consideration of $1.8 billion, before closing adjustments.

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