Quote (Bazi @ Apr 1 2020 03:12pm)
These are good points I might copy you , may I am why fcx in particular and how long calls are you going ?
I am up quite a bit on the puts I opened couple days ago also. I’m holding for another 2 weeks minimum unless spy hits 2100 which I will then sell
For one, they are the largest copper producer. They also mine gold (gold price went up a bunch recently) and molybdenum. I've done a fair amount of reading on similar companies and personally found between analysts recommendations & assessments and the price, it's one of the better companies in the space.
UBS just upgraded them today to a buy lowering their price target to 12 from 15. It's trading at like 6.50. So 2 reputable investment banks gave them a prices target that's almost 2x and this is recently after all the demand destruction and fallout from corona.