Corrected: TD Ameritrade Chief Strategist Says Market Expects 3.75% Move For Alcoa

Speaking to Benzinga, TD Ameritrade Chief Strategist JJ Kinahan discussed options activity on Alcoa Inc AA ahead of its earnings report.

Kinahan said that buyers were seen in the April $14 Calls, which could be a bullish sign.

Based on implied volatility, the market expected a 3.75 percent move, up or down, in the stock following earnings, according to Kinahan.

The company was scheduled to report Q1 earnings following the market close on Wednesday.

Heading into its earnings release, Alcoa Inc traded at $13.60, up 1.30 percent.

Kevin Riley and Brianna Valleskey contributed to this report.