Freeport McMoRan says seeing some signs of recovery in copper in Europe Freeport says U.S. copper demand has improved steadily. Says seeing "relatively improved" near-term fundamentals for copper globally and that long-term fundamentals for copper are strong. Comments from Freeport McMoRan CEO Richard Adkerson speaking on Q4 earnings conference call.
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.