Calls Sold on Alcoa For a Second Day (AA)

Shares of Alcoa Inc. AA are lower on the session by 0.78%, currently trading at $11.62. The stock rallied strongly yesterday, by more then 7%, though it remains in a long-term downtrend. Options traders are selling the July $12 call for the second day in a row. Today, the strike was sold, on the bid, 3,500 times. Open interest on the strike is now 35,296 contracts. Yesterday, Alcoa climbed aggressively as the Chinese government announced plans to allow more flexibility into the exchange rate on its currency, alleviating fears that a tightening there would clamp down on demand. Alcoa Inc. is engaged in the production and management of primary aluminum, fabricated aluminum, and alumina combined. The Company's products are used worldwide in aircraft, automobiles, commercial transportation, packaging, building and construction, oil and gas, defense, and industrial applications. Alcoa is a global company operating in 31 countries.