Today, 6/1/10, I STO 1 FCX Aug10 85 Covered Calls for a net deposit of $98.21 in an IRA account.  My basis for these FCX shares is now 86.48.

FCX is down more today along with the S&P although the DOW and NASDAQ are up as I write this.  The price of Copper and what China appears to be doing seem to have the greatest impact on the share price of FCX.

I like FCX and would like to own more of it.  To that end I have also sold a Nov10 75 Put on FCX which I have written about in earlier posts.  I may end up rolling that Put out and possibly down as I did near the end of April.  I want to own more but as cheaply as possible.

I should note that FCX has doubled its dividend to .30 per quarter.  I am really pleased to see that as dividends are one of the major reasons for me to own any particular stock.  I fully expect that FCX will continue to raise its dividend over the next few years as the world economy continues to improve.