Freeport seeks suitors for stake in power plant, Bloomberg says Freeport-McMoRan is working with Wells Fargo to find a buyer for its one-third stake in the Luna Energy Facility in New Mexico, which is worth as much as $200M, said Bloomberg, citing two people familiar with the matter. Reference Link
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.