Freeport McMoRan says positive on minig business; this deal is an 'add-on' The Freeport McMoRan CEO said: "This is an add-on to our mining business and not a diversion from the strategy that we've been on. We have extraordinary set of assets, margin and growth opportunities in the mining business. And we are going to continue to pursue those operations, development opportunities from our existing reserves and resources, and we're going to continue to look for new opportunities to grow with the mining business."
Freeport McMoRan call activity attributed to takeover speculation Freeport McMoRan May 23 and 23.5 calls are active on total call volume of 14K contracts (1K puts) on takeover speculation. May call option implied volatility is at 34, June is at 40, October is at 38; compared to its 26-week average of 40. Active option volume suggests traders taking positions for wide price movement.