Freeport McMoRan Copper & Gold (FCX) has been expanding their portfolio to include oil discovery, natural gas, and drilling, and with this diversification, they have gone through a complete makeover. I’ll cut right to the chase: their chart shows a strong move upward that may continue. The stock has enjoyed strong turnover and a blitz through price levels; given the backdrop of higher commodity prices, it makes sense that investors would come back to this former high flyer. We added some Sept calls to our Explosive Options trading portfolio last week.
