FCX Forecast + Trading Strategies




Price Forecast:


Bearish<->Bullish




Bullish Case: Bullish sentiment may arise from an expected recovery in copper demand, driven by renewable energy projects, with potential supply constraints supporting higher prices in 2025.




Bearish Case: Concerns over a potential economic slowdown could dampen copper demand, leading to stagnant prices or declines. Market volatility remains high, making short-term bearish strategies attractive.




Potential Outcomes:

1) Economic recovery boosts copper prices: 50% chance.

2) Continued economic slowdown harms demand: 30% chance.

3) Supply chain issues support higher prices: 20% chance.




Trading Oracle: Execute a bullish debit spread by buying 1 $48 call and selling 1 $48.5 call. Given current implied volatilities, this strategy leverages upward potential with defined risk. Aim for a high reward-to-risk ratio amid shifting copper market sentiments.



November 03, 2024


Freeport-McMoRan Forecast

FCX        Freeport-McMoRan











Correlated Assets

Assets that tend to move strongly with FCX



COPX Forecast + Options Trading Strategies   COPX  Global X Funds - Global X Copper Miners (0.98)


AA Forecast + Options Trading Strategies   AA  Alcoa (0.89)


ERO Forecast + Options Trading Strategies   ERO  Ero Copper (0.88)


CENX Forecast + Options Trading Strategies   CENX  Century Aluminum (0.88)


MU Forecast + Options Trading Strategies   MU  Micron Technology (0.87)



Uncorrelated Assets

Assets with little price relationship to FCX



KEYS Forecast + Options Trading Strategies   KEYS  Keysight (0.0)


FLNC Forecast + Options Trading Strategies   FLNC  Fluence Energy (-0.0)


SGMO Forecast + Options Trading Strategies   SGMO  Sangamo Therapeutics (0.0)


CRL Forecast + Options Trading Strategies   CRL  Charles River Laboratories International (0.0)


HSY Forecast + Options Trading Strategies   HSY  Hershey (-0.0)



Anticorrelated Assets

Assets that tend to move strongly against FCX



FLGT Forecast + Options Trading Strategies   FLGT  Fulgent Genetics (-0.74)


FUBO Forecast + Options Trading Strategies   FUBO  fuboTV (-0.76)


ERY Forecast + Options Trading Strategies   ERY  Direxion Daily Energy Bear 2X Shares (-0.77)


GL Forecast + Options Trading Strategies   GL  Globe Life (-0.77)


IGT Forecast + Options Trading Strategies   IGT  International Game Technology (-0.82)









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