A whale with a lot of money to spend has taken a noticeably bearish stance on Alcoa.
Looking at options history for Alcoa AA we detected 13 strange trades.
If we consider the specifics of each trade, it is accurate to state that 38% of the investors opened trades with bullish expectations and 61% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $229,015 and 9, calls, for a total amount of $899,000.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $22.0 to $65.0 for Alcoa over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $22.0 to $65.0 in the last 30 days.
Alcoa Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| AA | CALL | TRADE | BULLISH | 06/17/22 | $50.00 | $435.4K | 459 | 358 |
| AA | CALL | SWEEP | BEARISH | 01/20/23 | $22.00 | $184.2K | 752 | 50 |
| AA | PUT | SWEEP | BEARISH | 06/17/22 | $60.00 | $76.8K | 559 | 84 |
| AA | CALL | SWEEP | BEARISH | 03/18/22 | $60.00 | $68.4K | 3.3K | 768 |
| AA | PUT | SWEEP | BEARISH | 01/21/22 | $60.00 | $65.3K | 7.4K | 194 |
Where Is Alcoa Standing Right Now?
- With a volume of 6,919,264, the price of AA is down -6.0% at $57.58.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 83 days.
What The Experts Say On Alcoa:
- Deutsche Bank downgraded its action to Hold with a price target of $65
- Credit Suisse has decided to maintain their Outperform rating on Alcoa, which currently sits at a price target of $68.
- B. Riley Securities has decided to maintain their Neutral rating on Alcoa, which currently sits at a price target of $55.
- BMO Capital has decided to maintain their Market Perform rating on Alcoa, which currently sits at a price target of $65.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.
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