Freeport-McMoRan (FCX) Offering Possible 8.7% Return Over the Next 17 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 $27.50 short call and a strike $32.50 long call offers a potential 8.7% return on risk over the next 17 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $27.50 by expiration. The full premium credit of $0.40 would be kept by the premium seller. The risk of $4.60 would be incurred if the stock rose above the $32.50 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 38.43 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

Lundin Mining to cool heels on acquisitions, not eyeing Anglo copper assets
Mon, 01 Dec 2014 21:25:54 GMT

Freeport-McMoRan (FCX) Stock Is Sinking As It Nears $100 Million Settlement
Mon, 01 Dec 2014 15:32:00 GMT

Friday’s Notable Options Activity: Oil Spill
Mon, 01 Dec 2014 13:30:00 GMT

Freeport Settlement a Doubly Rare Win for Shareholders
Mon, 01 Dec 2014 13:21:10 GMT

Freeport-McMoRan Nears Settlement Over McMoRan, Plains Deals
Mon, 01 Dec 2014 05:00:12 GMT
The Wall Street Journal – Freeport-McMoRan is nearing a settlement to resolve allegations its board and executives had conflicts of interest while negotiating the natural-resource company’s purchase of two affiliates last year….

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