Freeport-McMoRan Weekly 5/8 53-Strike Call Nets 151% on 126-Day MA
Subscribers who bought Freeport-McMoRan weekly 5/8 53-strike calls at the 126-day moving average on May 4 captured a 151% gain as shares rebounded to a one-week high. The trade was supported by technical confluence at the $62 Max Pain level, the 50-day moving average and a 91/100 volatility score.
1. Trade Entry
Subscribers initiated the position on May 4 by purchasing a weekly 5/8 53-strike call on Freeport-McMoRan at the stock’s 126-day moving average following a late-week dip to that level.
2. Technical Rationale
Key supports included the $62 Max Pain threshold, the 50-day moving average, and the year-to-date anchored volume-weighted average price, while a 91/100 volatility score suggested outsized move potential.
3. Profit Outcome
In four trading sessions, FCX shares climbed to a one-week high, allowing the option position to deliver a 151% return to subscribers.