This Is What Whales Are Betting On Alcoa

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 11 extraordinary options activities for Alcoa. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 63% leaning bullish and 27% bearish. Among these notable options, 5 are puts, totaling $347,521, and 6 are calls, amounting to $444,066.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $30.0 and $50.0 for Alcoa, spanning the last three months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Alcoa's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Alcoa's whale trades within a strike price range from $30.0 to $50.0 in the last 30 days.

Alcoa Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

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.

Having examined the options trading patterns of Alcoa, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Alcoa Standing Right Now?

• With a trading volume of 3,865,743, the price of AA is down by -2.58%, reaching $34.73.
• Current RSI values indicate that the stock is may be oversold.
• Next earnings report is scheduled for 89 days from now.

What Analysts Are Saying About Alcoa

Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $45.5.

• Consistent in their evaluation, an analyst from B of A Securities keeps a Neutral rating on Alcoa with a target price of $43.
• In a positive move, an analyst from Morgan Stanley has upgraded their rating to Overweight and adjusted the price target to $50.
• Consistent in their evaluation, an analyst from B. Riley Securities keeps a Neutral rating on Alcoa with a target price of $43.
• An analyst from B of A Securities has decided to maintain their Neutral rating on Alcoa, which currently sits at a price target of $46.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Alcoa with Benzinga Pro for real-time alerts.