SHORT FCX/ BUY 8/18/23 FCX 42 PUTS

Freeport Mcmoran is up 3 days in a row and over 3% today as the bull cycle shifts from tech to basic resources. I expect the risk off to hit all sectors to close the week with a wider distribution day likely on Friday (tomorrow). There’s also major resistance at this level dating all the way back to May when FCX gapped lower from here.1 STAR TRADE LAST HALF HOUR