Our Hot Money scanner spotted a new bullish alert in Freeport McMoRan Inc. (FCX) after massive upside call buying.
Here's what I'm doing…
Buy-to-open the FCX Feb. 18, 2022, $48/$55 call spread
At last glance, this is trading around $0.98 per spread.
That means with a max profit opportunity of $6.00 per spread if we move above $55 per share in the coming weeks.
As always, I'm averaging into this position and managing risk before entry.