What move does the options market price into Freeport-McMoRan's report?

Implied ±17.1%, either direction · provisional.

How often does Freeport-McMoRan move more than the options market prices?

2 of the last 7 reports moved at least as far as the implied move.

FCXNYSEMetal Mining

Freeport-McMoRan Inc (FCX) earnings date, market-implied expected move, and options open interest by expiry

62.22

Closed18:57 ET

Open64.30Volume17.9MMkt cap$89.7BP/E30.46Div yield0.60%

Day61.65 – 64.7518%52-wk38.18 – 80.0757%

FCX

Freeport-McMoRan Inc

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±17.1%implied · straddle

51.7873.16

spot 62.47exp Feb 19ATM strike 62.5ATM straddle 12.57IV 46%

Oct 30 closeprovisional

Expected move

Inputs

Next report

Jan 21

before open · in 82 days

est.Q4 FY26

Calendar

Next report

Last report

+1.21%

vs ±4.5% implied · ×0.27

shaded = implied · ▲▼ = realized

Oct 27 '26 · confirmed

Implied vs realized

Linked news

51dTH · supplierTarget Hospitality Announces Closing of Upsized Secondary Offering and Concurrent Stock Repurchase and Full Exercise of Underwriters' Option to Purchase Additional Shares

News

Largest filed tie

13F top-10 QoQ

+2.09%

shares held · 10 largest managers

13F · Jun 30 '26123d lag

1,908 managers

Top fund weight

5.30%

FCX weight · XLB

N-PORTJun 30 '26

10 funds

Last reportshaded = implied▲▼ = realized× = |realized| ÷ implied

Freeport-McMoRan (FCX) is expected to report on Jan 21 before open (estimated date).

Implied vs realized

8 reports

2 of 7≥ implied

avg implied: ±4.4%
avg realized: ±4.2%

Apr 24 '25Apr 24 '25confirmed±4.2%▲+6.93%×1.63

Jul 23 '25Jul 23 '25confirmed±4.4%▼−2.10%×0.48

Q3 FY25Oct 23 '25confirmed±3.8%▲+1.10%×0.29

Jan 22 '26Jan 22 '26confirmed±3.7%▼−2.86%×0.77

Q1 FY26Apr 23 '26confirmed±4.0%▼−12.62%×3.14

Q2 FY26Jul 23 '26confirmed±5.8%▼−2.31%×0.40

Oct 2 '26Oct 2 '26confirmed—▲+3.98%—

Oct 27 '26Oct 27 '26confirmed±4.5%▲+1.21%×0.27

quarterimplied−15%0+15%realized×

Oct '26±4.5%▲+1.21%×0.27

Oct '26—+3.98%

Shaded = implied · tick ▲▼ = realized · × = |realized| ÷ impliedSource: options EOD · implied at prior close · realized close to close

Implied vs realized

Positioning

OI · 10 expiries · Oct 26 close

1.08OI · 10 expiries · Oct 26 closeP/C open interest · Feb 19 · first expiry after the report

PUTS · chgexpiry · days · P/CCALLS · chgP/C

5 nearer expiries

1,870+3%Nov 66d0.414,574+6%0.41

1,670+2%Nov 1313d0.961,735+2%0.96

40,799+2%Nov 2020d0.6760,7530%0.67

322+19%Nov 2727d0.46702+11%0.46

39+388%Dec 434d0.9143+59%0.91

61,623+2%Dec 1848d0.8374,508+15%0.83

205,138−1%Jan 1576d1.31157,1640%1.31

report · Jan 21 · before open · est.

ExpiryPutsCallsP/C

5 nearer expiries

Nov 66d1,870+3%4,574+6%0.41

Nov 1313d1,670+2%1,735+2%0.96

Nov 2020d40,799+2%60,753

Hatched = puts · solid = calls · bars scaled per expiry · chg = OI vs prior sessionSource: options EOD

Positioning

Linked exposure

scenario · straddle±17.1%

Funds 4

XLB±0.9%

FTC±0.1%

VTV±0.1%

RSP±0.0%

Dashed = straddleMethod 2 more funds Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ2 FY26

19.79%as filednet margin · revenue +12.75% QoQ · −7.29% YoY

Revenue

$7.0B+12.75% QoQ

Gross profit

$2.2B+32.08% QoQ

31.10% margin

Operating income

$2.0B−6.27% QoQ

28.50% margin

Pre-tax income

$1.9B−5.11% QoQ

Net income

$1.4B+0.29% QoQ

19.79% margin

Cost of revenue

$4.8B+5.77% QoQ

Operating expenses

$183M+137.97% QoQ

SG&A $135M

Exploration $53M

Other expense

$73M

Tax

$544M−16.69% QoQ

Revenue$7.0B+12.75%

Gross profit

$2.2B+32.08%

31.10% margin

Operating income

$2.0B−6.27%

28.50% margin

Pre-tax income

$1.9B−5.11%

Net income

$1.4B+0.29%

19.79% margin

Cost of revenue

$4.8B+5.77%

Operating expenses

$183M+137.97%

SG&A $135M

Exploration $53M

Other expense

$73M

Tax$544M−16.69%

flow · deduction · signed % = QoQSource: SEC filings · standardized · QE Jun 30 '26 · width = $

Revenue flow

Intraday

15m bars

Long dash = implied range · Oct 30 close · Hatch = extended hours · ▯ up · ▮ down · bars = volume, 15mSource: market data · 18:45 ET

Intraday

Event sensitivity

PPI ×1.71· ±3.5% vs ±2.0% · 10 releases

eventrelease day|move|up · n×base

PPIproducer prices±3.5%4 of 10×1.71

Freeport-McMoRan Inc (FCX) earnings date, market-implied expected move, and options open interest by expiry

Implied vs realized

Implied vs realized

Positioning

Positioning

Linked exposure

Linked exposure

Revenue flow

Revenue flow

Intraday

Intraday

Event sensitivity

Implied vs realized

Positioning

Freeport-McMoRan Inc (FCX) earnings date, market-implied expected move, and options open interest by expiry

Event sensitivity

Earnings history

Methodology

Revenue flow

Intraday

Linked exposure

Quarter	Reported	EPS	Consensus
Q2 FY26	Jul 23 '26 · confirmed	0.68	—
Q1 FY26	Apr 23 '26 · confirmed	0.61	—
Q3 FY25	Oct 23 '25 · confirmed	0.46	—