Dark Money Sell Alert: Take An 88% Gain On FCX Calls
CX reported earnings recently and management’s guidance was bullish with a forecast of rising production in mining. As a result, a strong rally occurred for the stock. Given the economic sensitivity of copper prices, and the election-related turmoil that still might lie ahead, FCX could surrender some of its gains before its January option expiration so we recommend taking gains. Also, with a growing fear that CME’s interest rate futures volume will remain low for years into the future, we recommend selling that position today as well.