April 17, 2013
Freeport McMoRan (FCX)

Bias: Bearish
Price Target: $26


We are bearish on FCX and we want to purchase a put vertical to take advantage of the possible move lower.


BUY To OPEN 4 Apr-20 FCX 28 Puts trading at $0.86
SELL To OPEN 4 Apr-20 FCX 26 Puts trading at $0.18


FCX is now trading at 27.68
This spread is now trading at $0.68
The Total Debit for this trade is $2.72


Day Order Only

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