• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • TheStreet Smarts
  1. Home
  2. / Investing
  3. / Options

This Miner Could Turn Out to Be a Major Winner

Here's why I like Freeport-McMoRan and how you can trade it.
By MARK SEBASTIAN
Aug 31, 2022 | 02:36 PM EDT
Stocks quotes in this article: FCX

The selling in mining, energy, and materials happened fast. Now that it has happened, some of these names are looking more interesting to me.

One name I like is Freeport-McMoRan (FCX) .

FCX is sitting at its 50-day moving average, kind of doing nothing Wednesday. While we could see a break lower, I have the downside potential to around $28. The potential upside, though? I think we could see FCX run back above $32 a share.

The September $30 calls cost about $1.20, I think those will pay nicely in the next few days, potentially doubling if the market gets a snap rally later in the week.

Trade:

Buy to open 1 FCX Sept. 16 $30 call for $1.20.

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

At the time of publication, Sebastian had no positions in any securities mentioned.

TAGS: Investing | Markets | Options | Put Call | Trading | Metals & Mining

More from Options

'Exchange' Risk for the Security of This Defensive Fund

Bret Jensen
Mar 19, 2023 7:30 AM EDT

Let's look at this health care exchange-traded fund and how to trade it.

The Frenzy of Options Expiration Day Reminds Us: Time Really Is Money

Bob Lang
Mar 17, 2023 12:57 PM EDT

Let's see why this day sets the table for big volatility.

Let's Step Closer to the Money With This Stock

Paul Price
Mar 15, 2023 7:00 AM EDT

Caleres, despite a little trip down, is among my 'Dandy Dozen' stocks, let's see why.

My Trade Amid SVB's Fall? An 'Insurance Policy' on BofA I Hope Doesn't Pay Off

Bret Jensen
Mar 12, 2023 7:30 AM EDT

I bought a small number of July puts on Bank of America, after the fall of Silicon Valley Bank. Here's why and why I don't necessarily hope it works.

Jobs Data Smells Funny, but Not International Flavors & Fragrances

Paul Price
Mar 10, 2023 7:00 AM EST

At the request of a subscriber, here's my take on IFF and how to play it, and on the jobs numbers that come in Friday.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 10:28 AM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    There are exceptions to conventional trading wisdo...
  • 05:43 PM EDT CHRIS VERSACE

    Latest AAP Podcast

    I'm joined by Real Money contributor Peter Tchir a...
  • 08:20 AM EDT PETER TCHIR

    Pre-CPI Thoughts

    I believe the risk to CPI is "asymmetric." It ...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2023 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login