FCX options flow: unusual options activity in Freeport-McMoRan Inc.
Updated 28 September 2026, 09:54 ET
Over the last week the tape recorded 133 unusual options prints in Freeport-McMoRan Inc. (FCX), $12.4M of tracked premium, leaning bearish. Bullish premium was $4.3M against $7.1M bearish; $9.0M went into calls and $3.4M into puts, a put call ratio of 0.38. The largest print was $772K of FCX 21 Jan 2028 $85 calls on 22 September 2026, swept at ask. The last session with prints, 28 September 2026, added 2 prints and $105K of premium. FCX closed at $72.31 on 25 September 2026, up 0.3%.
This week's unusual flow
Prints from 21 September 2026 to 28 September 2026, 6 sessions. Delayed tier: every print is shown twenty minutes after it executed, and the page is rebuilt after each session.
Net premium is bullish minus bearish premium. The put call ratio is put premium divided by call premium, weighted by money rather than by contract count. Sweeps is the share of prints executed across several exchanges at once. Read the guide: Reading the Pulse.
Largest prints of the week
| Date | Contract | Type | Size | Open int. | Premium | Execution | Sentiment | Tier |
|---|---|---|---|---|---|---|---|---|
| 22 Sep 2026 | FCX 21 Jan 2028 $85 calls | Sweep | 557 | 12,510 | $772K | At ask | Bullish | High conviction |
| 21 Sep 2026 | FCX 15 Jan 2027 $15 calls | Trade | 100 | 130 | $565K | At bid | Bearish | Notable |
| 25 Sep 2026 | FCX 16 Oct 2026 $75 puts | Trade | 1,000 | 2,537 | $465K | At bid | Bullish | Notable |
| 24 Sep 2026 | FCX 18 Dec 2026 $60 puts | Trade | 2,250 | 11,495 | $414K | At ask | Bearish | Notable |
| 21 Sep 2026 | FCX 18 Dec 2026 $70 puts | Sweep | 645 | 5,682 | $365K | At bid | Bullish | High conviction |
| 23 Sep 2026 | FCX 19 Mar 2027 $95 calls | Trade | 1,000 | 1,117 | $350K | At bid | Bearish | Notable |
| 25 Sep 2026 | FCX 18 Dec 2026 $80 calls | Sweep | 972 | 10,215 | $335K | Below bid | Bearish | High conviction |
| 23 Sep 2026 | FCX 19 Mar 2027 $95 calls | Sweep | 835 | 1,117 | $296K | At midpoint | Neutral | Notable |
| 24 Sep 2026 | FCX 18 Dec 2026 $65 calls | Sweep | 267 | 1,316 | $273K | At bid | Bearish | Notable |
| 21 Sep 2026 | FCX 21 Jan 2028 $100 calls | Trade | 259 | 10,971 | $240K | At bid | Bearish | Notable |
| 24 Sep 2026 | FCX 18 Dec 2026 $65 calls | Sweep | 200 | 1,316 | $212K | At bid | Bearish | Notable |
| 24 Sep 2026 | FCX 18 Dec 2026 $65 calls | Sweep | 200 | 1,316 | $210K | At bid | Bearish | Notable |
Size above open interest means the trade opened a position larger than everything that existed in the contract the night before. Above ask and below bid are the most aggressive executions. Read the guide: Size versus open interest.
Where the money is aimed
| Expiry | Prints | Premium | Calls share | Net premium |
|---|---|---|---|---|
| 18 Dec 2026 | 34 | $4.1M | 67% | -$2.2M |
| 21 Jan 2028 | 20 | $2.2M | 90% | -$583K |
| 16 Oct 2026 | 17 | $1.6M | 54% | +$550K |
| 19 Mar 2027 | 13 | $1.3M | 57% | -$494K |
| 15 Jan 2027 | 13 | $1.1M | 71% | -$207K |
| 2 Oct 2026 | 8 | $718K | 100% | -$81K |
The most premium, $4.1M, is aimed at the 18 Dec 2026 expiry; the nearest expiry with unusual prints is 2 Oct 2026.
A print in a contract expiring this week is a view about the next few days, often about a known event; a print months out is a different kind of statement. Read the guide: 0DTE options flow.
The last session, 28 September 2026
| Date | Contract | Type | Size | Open int. | Premium | Execution | Sentiment | Tier |
|---|---|---|---|---|---|---|---|---|
| 28 Sep 2026 | FCX 18 Dec 2026 $75 calls | Trade | 131 | 7,560 | $55K | At ask | Bullish | |
| 28 Sep 2026 | FCX 18 Dec 2026 $60 calls | Trade | 40 | 9,125 | $50K | At ask | Bullish | Notable |
Every print in FCX with its full detail, the live tape, one tap filters and saved screeners: open FCX in Options Sentiment Screener.
Price
The live quote and the price chart sit beside the ticker's flow in the app: open FCX in Options Sentiment Screener.
Analysts
The most recent analyst targets on file, from 11 firms, have a median of $77, 6.5% above the last close.
Calls bought at a strike above the average target are a bet that the analysts are too cautious; puts far below the price in a name they like are protection or a strong disagreement. Read the guide: Reading one ticker's flow.
About Freeport-McMoRan Inc.
- Exchange
- NYSE
- Sector
- Materials
- Industry
- Non-Metallic And Industrial Metal Mining
- Headquarters
- PHOENIX, Arizona
- Website
- fcx.com
Freeport-McMoRan Inc. engages in the mining of mineral properties in North America, South America, and Indonesia. 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. The company also operates a portfolio of oil and gas properties in offshore California and the Gulf of Mexico.
In the same sector
Flow pages for other Materials names in the S&P 500:
LIN Linde PLCNEM Newmont Corp.SHW Sherwin Williams Co.ECL Ecolab Inc.APD Air Products & Chemicals, Inc.CRH CRH Public Ltd. Co.NUE Nucor Corp.CTVA Corteva, Inc.
Learn
- What unusual options activity means
- Reading one ticker's flow
- Sweeps, blocks and where a trade printed
- Size versus open interest
- Bullish or bearish, how a print's sentiment is inferred
- The conviction score and whale prints
The live tape for FCX with every print's execution detail, one tap filters for calls, puts, sweeps and 0DTE, saved screeners and, for Realtime subscribers, push alerts and no delay. The same screen is in the iOS and Android apps.
Open FCX in Options Sentiment Screener