Freeport McMoRan reports Q4 EPS with items 68c, consensus 80c Reports Q4 revenue $5.89B, consensus $6.4B. FCX’s EPS included net charges of 16c, comprised of 7c for unrealized losses on oil and gas derivative contracts and other items.
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.