Check Out What Whales Are Doing With Alcoa

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 trades 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.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 8 uncommon options trades for Alcoa.

This isn't normal.

The overall sentiment of these big-money traders is split between 37% bullish and 37%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $223,450, and 2 are calls, for a total amount of $117,150.

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 $40.0 for Alcoa, spanning the last three months.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Alcoa options trades today is 886.83 with a total volume of 714.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Alcoa's big money trades within a strike price range of $30.0 to $40.0 over the last 30 days.

Alcoa Option Volume And Open Interest Over Last 30 Days

Significant Options Trades Detected:

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.

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.

Present Market Standing of Alcoa

• With a volume of 1,882,057, the price of AA is down -2.08% at $34.29.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 50 days.

Expert Opinions on Alcoa

Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $51.0.

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. * Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Alcoa, targeting a price of $51.

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.