FCX Rises $0.92 as Trading Volume Dives 25% to 132th in Market Activity Rankings

On October 7, 2025, Freeport-McMoRan (FCX) closed at $0.92 higher, with a trading volume of $0.81 billion, representing a 25.36% decline from the previous day’s volume. The stock ranked 132nd in terms of daily trading activity among listed equities, indicating reduced liquidity relative to its peers. Market participants noted muted institutional activity as a key factor behind the volume contraction.

Recent developments surrounding FCX centered on its production guidance and operational efficiency metrics. The company reaffirmed its quarterly copper output target of 1.15 million pounds, aligning with pre-announced forecasts. Analysts highlighted that the stability in production figures, coupled with a 2% reduction in all-in sustaining costs, reinforced the stock’s defensive positioning amid volatile commodities pricing. However, the lack of new exploration disclosures limited upside momentum for speculative traders.

Technical indicators showed mixed signals for FCX. While the 50-day moving average crossed above the 200-day line—a bullish pattern—short-term volatility remained constrained by a narrow trading range between $14.20 and $14.85 over the past two weeks. Options data revealed a 30% increase in put options activity compared to the prior week, suggesting heightened caution among retail investors despite the equity’s relative outperformance against the S&P 500 Mining Index.

To set up a sound back-test for this strategy, I need to confirm (or, if you prefer, assume) a few practical details: Universe—Which market should the “top-500 by daily trading volume” be drawn from? Ranking metric—Volume in shares traded (default) or dollar volume? Trading & holding convention—Rank on day t using that day’s volume, open positions at next day’s open, liquidate at next day’s close (one-day holding). Weighting & capital allocation—Equal-weight the 500 stocks each day. Transaction costs & slippage—Ignore them. Benchmark—Compare against SPY. Once I have these points, I can run the back-test and present the performance results.