Freeport-McMoRan Hits All-Time High of $74.52 as Copper Rally Drives Options Frenzy

Freeport-McMoRan shares surged to an all-time high of $74.52 on August 21, 2026, leading S&P 500 gainers at the open and finishing the session outperforming peers, according to multiple market trackers. The move was driven by rising copper prices and strong industrial demand signals, with the stock up roughly 3.89% in pre-market trading alone before extending gains through the session. Options traders had positioned aggressively ahead of the move: December 18 $80 call options traded more than $3 million in premiums the prior day and were showing a 65% return by the close of August 21.

The rally placed FCX alongside gold and bitcoin as a focus for commodity-driven investors, with copper's momentum underpinned by improving global industrial demand cues.