Freeport McMoRan shares recommended at Cowen Cowen has confirmed that Freeport McMoRan and the Indonesian government are closer to an agreement to resume copper concentrate exports. The firm said this is first sign that all ministries are working together on a resolution and recommends buying shares of Freeport at current levels.
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.