Investors with a lot of money to spend have taken a bullish stance on Alcoa AA.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with AA, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 11 options trades for Alcoa.
This isn't normal.
The overall sentiment of these big-money traders is split between 72% bullish and 18%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $27,590, and 10, calls, for a total amount of $360,648.
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 $30.0 to $50.0 for Alcoa over the last 3 months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Alcoa stands at 4479.5, with a total volume reaching 29,752.00. 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 $30.0 to $50.0, throughout the last 30 days.
Alcoa Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AA | CALL | TRADE | BULLISH | 01/16/26 | $17.75 | $17.65 | $17.75 | $30.00 | $65.6K | 1.1K | 0 |
| AA | CALL | TRADE | BULLISH | 01/17/25 | $1.84 | $1.77 | $1.82 | $50.00 | $58.2K | 14.7K | 352 |
| AA | CALL | SWEEP | BULLISH | 12/20/24 | $5.8 | $5.75 | $5.8 | $40.00 | $36.5K | 3.9K | 1.5K |
| AA | CALL | SWEEP | BULLISH | 11/15/24 | $0.5 | $0.49 | $0.5 | $44.50 | $34.4K | 580 | 9.0K |
| AA | CALL | SWEEP | BULLISH | 12/20/24 | $6.15 | $6.05 | $6.1 | $40.00 | $31.1K | 3.9K | 1.4K |
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 trading volume of 8,829,143, the price of AA is up by 7.13%, reaching $44.15.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 61 days from now.
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.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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