Freeport-McMoRan Inc. ($FCX) has seen a surge in options trading activity, particularly for the May 2025 $50 call options, which have garnered significant interest. A recent transaction involved the purchase of 25,006 of these calls at a price of 60 cents each. The stock is poised for its first close above the 200-day exponential moving average (EMA) since last November, indicating potential upward momentum. The open interest for the May $50 calls has surpassed 134,500 contracts following additional purchases. Overall, $FCX has appreciated nearly 23% since early March, with some options reaching gains of up to 220%. The current put/call ratio stands at 19,000 puts to 68,000 calls, reflecting a bullish sentiment among traders.