Whales with a lot of money to spend have taken a noticeably bullish stance on Alcoa.
Looking at options history for Alcoa AA we detected 13 trades.
If we consider the specifics of each trade, it is accurate to state that 69% of the investors opened trades with bullish expectations and 30% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $356,805 and 7, calls, for a total amount of $273,899.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $25.0 to $35.0 for Alcoa during the past quarter.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Alcoa options trades today is 3448.78 with a total volume of 7,631.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Alcoa's big money trades within a strike price range of $25.0 to $35.0 over the last 30 days.
Alcoa 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| AA | PUT | TRADE | BULLISH | 09/20/24 | $35.00 | $89.2K | 148 | 124 |
| AA | PUT | SWEEP | BEARISH | 03/28/24 | $29.00 | $84.4K | 72 | 5 |
| AA | PUT | SWEEP | NEUTRAL | 04/19/24 | $35.00 | $70.2K | 654 | 10 |
| AA | CALL | SWEEP | BULLISH | 04/19/24 | $30.00 | $60.7K | 16.8K | 3.3K |
| AA | PUT | TRADE | NEUTRAL | 01/17/25 | $35.00 | $43.7K | 5.7K | 151 |
About Alcoa
Alcoa Corp is a vertically integrated aluminum company whose operations include bauxite mining, alumina refining, and the manufacture of primary aluminum. It is a bauxite miner and alumina refiner by production volume, and its profits are closely tied to prevailing commodity prices along the aluminum supply chain. The company segments include Bauxite; Alumina and Aluminum. It generates maximum revenue from the Aluminum segment. Geographically, it derives a majority of its revenue from the United States.
After a thorough review of the options trading surrounding Alcoa, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Alcoa
- Currently trading with a volume of 5,331,089, the AA's price is down by -2.19%, now at $30.35.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 29 days.
What Analysts Are Saying About Alcoa
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $32.0.
- An analyst from B of A Securities persists with their Neutral rating on Alcoa, maintaining a target price of $32.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Alcoa options trades with real-time alerts from Benzinga Pro.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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