Gold Mining Coming Up??

10 Sep

FCX

With the option Flow coming in this gave us a bullish bias on the stock. After the trader placed his trade the markets drove the stock down which is max pain. The quicker the market maker drives the stock against the trader, the higher the chance of the trade going in their direction. While going through FCX's option chain we have 2 major put walls, the $40 and $40.5 strike giving more of a reason to move the stock higher. For the technicals the stock created a technical bottom and a liquidation bottom indicating the stock is ready to move higher!