Market Whales and Their Recent Bets on Alcoa Options

Deep-pocketed investors have adopted a bullish approach towards Alcoa AA, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in AA usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 10 extraordinary options activities for Alcoa. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 5 are puts, totaling $353,684, and 5 are calls, amounting to $139,094.

Latest Startup Investment Opportunities:

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $29.0 to $50.0 for Alcoa over the last 3 months.

Volume & Open Interest Development

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Alcoa's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Alcoa's substantial trades, within a strike price spectrum from $29.0 to $50.0 over the preceding 30 days.

Alcoa Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

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 the world's largest 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

• With a trading volume of 5,722,431, the price of AA is up by 1.73%, reaching $30.02.
• Current RSI values indicate that the stock is may be approaching oversold.
• Next earnings report is scheduled for 84 days from now.

Expert Opinions on Alcoa

Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $29.25.

• Reflecting concerns, an analyst from UBS lowers its rating to Sell with a new price target of $29.
• Consistent in their evaluation, an analyst from BMO Capital keeps a Market Perform rating on Alcoa with a target price of $29.
• An analyst from UBS persists with their Sell rating on Alcoa, maintaining a target price of $27.
• Consistent in their evaluation, an analyst from JP Morgan keeps a Neutral rating on Alcoa with 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.