Financial giants have made a conspicuous bearish move on Alcoa. Our analysis of options history for Alcoa AA revealed 10 unusual trades.
Delving into the details, we found 30% of traders were bullish, while 70% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $139,429, and 6 were calls, valued at $193,589.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $25.0 to $50.0 for Alcoa over the recent three months.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Alcoa's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Alcoa's whale trades within a strike price range from $25.0 to $50.0 in the last 30 days.
Alcoa Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AA | PUT | SWEEP | BEARISH | 07/19/24 | $13.2 | $13.1 | $13.2 | $50.00 | $58.0K | 0 | 40 |
| AA | CALL | SWEEP | BULLISH | 01/17/25 | $11.15 | $11.0 | $11.15 | $30.00 | $41.2K | 6.3K | 44 |
| AA | CALL | SWEEP | BULLISH | 04/12/24 | $1.19 | $1.06 | $1.17 | $37.00 | $37.4K | 689 | 564 |
| AA | CALL | TRADE | BULLISH | 01/17/25 | $14.75 | $14.75 | $14.75 | $25.00 | $30.9K | 825 | 21 |
| AA | PUT | SWEEP | BEARISH | 04/05/24 | $0.36 | $0.21 | $0.36 | $36.50 | $30.9K | 1.1K | 52 |
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.
Having examined the options trading patterns of Alcoa, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Alcoa Standing Right Now?
- Currently trading with a volume of 3,329,695, the AA's price is up by 0.35%, now at $37.31.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 13 days.
What Analysts Are Saying About Alcoa
In the last month, 1 experts released ratings on this stock with an average target price of $32.0.
- An analyst from B of A Securities has decided to maintain their Neutral rating on Alcoa, which currently sits at a price target of $32.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Alcoa, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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