Financial giants have made a conspicuous bullish move on Alcoa. Our analysis of options history for Alcoa 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.
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