Yesterday, calls on FCX were bought. The December $101.00 were bought for $1.90 before commissions and fees. The target for the trade is $3.00. FCX is currently trading at $101.71. Some reasons for the trade are as follows:
- New 52 week highs reached
- Broken out of resistance
- Coming global fiscal easing
- Canada's fiscal strength
If a more conservative approach is more to your trading style, Trading Futures ETF Options also follows Sell The Call, a blog covering all things covered call. Previous trades include USO, IAU options.
**Disclaimer** - This is just trade information. It is not a recommendation to buy or sell any of the securities mentioned in this blog. Do your Due Diligence before any trading or investing.