Shares of Freeport-McMoRan jumped about 5% in afternoon New York trading on Wednesday, leading a broad rally in copper-exposed equities. Traders reported brisk call-option buying in the miner, including an estimated 32,000 contracts purchased against about 10,000 puts, and a block of 6,800 September $55 calls priced at $0.75 apiece. Peers Southern Copper and Teck Resources also gained, while the SPDR S&P Metals & Mining ETF climbed roughly 2.8% to a new 52-week high, making it the day’s top-performing U.S. sector fund. The move extends a week-long advance driven by upbeat sentiment toward the copper market and expectations of stronger demand in the second half of the year.