Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Call Spread trade opportunity for FREEPORT-MCMORAN INC (FCX) for the 16-Oct-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. FCX was recently trading at $14.30 and has an implied volatility of 53.25% for this period. Based on an analysis of the options available for FCX expiring on 16-Oct-2020, there is a 34.13% likelihood that the underlying will close within the analyzed range of $14.31-$18.14 at expiration. In this scenario, the average linear return for the trade would be 74.16%. Big 10.46% Change: After closing the last trading session at $12.95, FREEPORT-MCMORAN INC opened today at $13.33 and has reached a high of $14.31. Trade approach: A movement as big as 10.46% is a significantly bullish indicator, so this trade is designed to be profitable if FCX maintains its current direction and does not revert back to pricing on the bearish side of $14.30 on 16-Oct-2020. If possible, the trade has been padded such that slight movement against the trade would still return a profit. Upside potential: Using this bullish strategy, the trade would be profitable if FREEPORT-MCMORAN INC closes at or above $14.10 on 16-Oct-2020. Based on our risk-neutral analysis, there is a 52.48% likelihood of this return. Downside risk: As with any options trade, there is a substantial downside risk where you may lose most or all of your investment. To analyze this trade in depth, please visit the Quantcha Options Search Engine.