Alcoa's Options: A Look at What the Big Money is Thinking - Alcoa (NYSE:AA)

Financial giants have made a conspicuous bullish move on Alcoa. Our analysis of options history for Alcoa (NYSE:AA) revealed 20 unusual trades.

Delving into the details, we found 60% of traders were bullish, while 30% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $181,431, and 15 were calls, valued at $1,228,600.

Expected Price Movements

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 $45.0 for Alcoa during the past quarter.

Volume & Open Interest Development

In today's trading context, the average open interest for options of Alcoa stands at 4947.45, with a total volume reaching 13,105.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Alcoa, situated within the strike price corridor from $25.0 to $45.0, throughout the last 30 days.

Alcoa 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
AA	CALL	SWEEP	NEUTRAL	05/17/24	$2.44	$1.99	$2.2	$37.50	$260.2K	5.7K	3.1K
AA	CALL	SWEEP	BULLISH	05/17/24	$2.39	$2.32	$2.35	$37.50	$246.8K	5.7K	1.3K
AA	CALL	TRADE	BULLISH	06/21/24	$5.25	$5.2	$5.25	$35.00	$105.0K	6.2K	329
AA	CALL	SWEEP	BULLISH	09/20/24	$4.75	$4.7	$4.75	$40.00	$88.8K	7.6K	933
AA	CALL	SWEEP	BULLISH	09/20/24	$4.85	$4.8	$4.85	$40.00	$82.4K	7.6K	317

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.

Current Position of Alcoa

With a trading volume of 4,645,626, the price of AA is up by 7.3%, reaching $39.83.
Current RSI values indicate that the stock is may be approaching overbought.
Next earnings report is scheduled for 65 days from now.

What Analysts Are Saying About Alcoa

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $36.9.

An analyst from BMO Capital persists with their Market Perform rating on Alcoa, maintaining a target price of $37.
Maintaining their stance, an analyst from B. Riley Securities continues to hold a Neutral rating for Alcoa, targeting a price of $31.
An analyst from Morgan Stanley has elevated its stance to Equal-Weight, setting a new price target at $36.
Consistent in their evaluation, an analyst from UBS keeps a Sell rating on Alcoa with a target price of $32.
An analyst from Jefferies has decided to maintain their Buy rating on Alcoa, which currently sits at a price target of $48.

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.

AAAlcoa Corp

$48.52-0.12%

Overview

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