High-rolling investors have positioned themselves bullish on Alcoa AA, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in AA often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for Alcoa. This is not a typical pattern.
The sentiment among these major traders is split, with 50% bullish and 50% bearish. Among all the options we identified, there was one put, amounting to $98,880, and 7 calls, totaling $428,698.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $22.5 to $35.0 for Alcoa over the recent three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Alcoa options trades today is 5534.0 with a total volume of 4,830.00.
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 $22.5 to $35.0 over the last 30 days.
Alcoa Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AA | PUT | SWEEP | BULLISH | 09/19/25 | $4.25 | $4.1 | $4.13 | $35.00 | $98.8K | 8.7K | 320 |
| AA | CALL | TRADE | BEARISH | 08/15/25 | $1.02 | $0.83 | $0.85 | $31.00 | $85.0K | 6.2K | 1.0K |
| AA | CALL | TRADE | BEARISH | 08/15/25 | $0.91 | $0.8 | $0.8 | $31.00 | $80.0K | 6.2K | 2.0K |
| AA | CALL | TRADE | BEARISH | 10/17/25 | $1.95 | $1.2 | $1.23 | $35.00 | $75.1K | 12.2K | 0 |
| AA | CALL | SWEEP | BULLISH | 10/17/25 | $1.2 | $1.15 | $1.2 | $35.00 | $66.2K | 12.2K | 896 |
About Alcoa
Alcoa is a vertically integrated aluminum company whose operations include bauxite mining, alumina refining, and manufacturing primary aluminum. It is the world's largest bauxite miner and alumina refiner by production volume, and the eighth-largest aluminum producer. Profits are closely tied to prevailing commodity prices along the aluminum supply chain.Alcoa was the first mass producer of aluminum, launching the world-changing Hall-Heroult smelting process in the 1880s, making aluminum affordable. It listed as a public company in 1925. In 2016, Alcoa spun off its automotive and aerospace metal parts segment to focus on mining, smelting, and refining. It bought the 40% unowned balance of AWAC in mid-2024, meaning refining assets are now predominantly wholly owned, as with smelting.
Alcoa's Current Market Status
- With a volume of 2,603,466, the price of AA is up 0.57% at $31.56.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 63 days.
What Analysts Are Saying About Alcoa
In the last month, 4 experts released ratings on this stock with an average target price of $32.25.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Alcoa, targeting a price of $38. * Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Alcoa, targeting a price of $27. * An analyst from B. Riley Securities persists with their Buy rating on Alcoa, maintaining a target price of $37. * An analyst from B of A Securities has decided to maintain their Underperform rating on Alcoa, which currently sits at a price target of $27.
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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