Tim Biggam, Lead Options Strategist at Delta Derivatives, discusses his options trade on Freeport-McMoran. He is selling the June 31/29 put spread for a $0.55 net credit. He says it provides a 12% downside cushion. He thinks copper, Freeport-McMoran, and the market are getting a little overdone and a short-term pullback may be on the horizon. He says Freeport is above its 20-day moving average.