Cramer says look at FCX, We did a long time ago!

The Sensei bought FCX at $9.41 and sold the Jan 10 calls for $2.27, so that is .59 if called away plus $2.27 for a total of $2.86 on anything above $10.00.  The stock is now trading at $11.05.  That is a 30% + return if called away. Now FCX has a lot of debt on the books and this is not for the faint of heart.  We do however want to point out that we have been on this trade and a breakout would not hurt our feelings.

As always consult your advisor before investing of any kind, options are NOT suitable for all investors.

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