Bullish on FCX due to strong copper demand and technical breakout from base; currently holding position.

>> Copper looking strong. Absolutely. Copper is going to be in demand for a while. >> Yeah. And I was actually talking about that earlier. Uh someone else in the chat was looking I think EKS already positioned.

Barb was looking to position some more into that. Of course Lion has been banging the table on copper correctly by the way for some time.

FCX, this is a number of folks were bullish on copper earlier. FCX is straight up out of the gate. We're still beneath the all-time high, but not by much. FCX 7.67 or excuse me, six and three/4er percent move here today. That's big time.

And the first one is FCX. Listen, this one is doing really nicely. It had a topping formation three weeks ago. pulled back to the base of the earnings level at 72, which was, you know, a fantastic pullback, almost $8, and then it uh started running again.

And it's up 7%. The ATR for this one is six bucks. I have sort of a sneaky suspicion that people are sort of running into this to hold it over the long term simply because copper's gone crazy.

That's going to pull our FCX and also our uh southern copper back simply because it's just going to follow that trend the same way. So you could do a couple of things if you're very bullish on FCX. I am right. I own FCX.

Was that one what that one was? Yes, this was one of them. Yes, this was one of them and it's doing tremendously. I think we paid maybe 178 for this butterfly and then this one I think was maybe 312.

So they're, you know, both creeping up on 100% right now.

And today we can see in FCX everybody has sold that 70 uh put. So if you're thinking to yourself, hey, I want to sell that 70 put. Maybe I'll get put to the stock. That's really great.

The spreads are tight. You can totally do it. If you're thinking maybe maybe if you're thinking like me, hey, how about an iron condor shock? you can. It gives you a dollar. Look at how much volume and open interest is building here.

So, this is great for the future. You can sit here and say, "All right, maybe I'll do the 905." And the minimum I like to have is a dollar. It gives us a $1.56. If, however, you say, "Well, maybe it pulls in a little, so I'm just going to do a spread.

I'm going to do the 80 90 spread. It's $269,000 to the upside if you get it. But if you're thinking to yourself, well, maybe this week is going to be a little rough, try and sell it for 175.

I mean, try and buy it for 175, right? You'll be able to you'll be able to do a lot with that. And my thought is if you do it now and it runs for two or three more days once it starts getting up into that 80 82 83 area you need to take some gains because there is significant overhang there from an extension perspective right from the 82 all the way to 86.

Those are just the expansion lines here. The good news is this has been sitting in a base since the year began and now it's finally breaking out. So there is some updraft there that's going to be very attractive over the long haul.

of course I prefer FCX and uh, Southern Copper as as my personal choices. >> Yeah, FCX is my favorite. Always has been, too.