A whale with a lot of money to spend has taken a noticeably bullish stance on Alcoa.
Looking at options history for Alcoa (NYSE:AA) we detected 23 strange trades.
If we consider the specifics of each trade, it is accurate to state that 69% of the investors opened trades with bullish expectations and 30% with bearish.
From the overall spotted trades, 14 are puts, for a total amount of $666,746 and 9, calls, for a total amount of $300,765.
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 $60.0 to $115.0 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 $60.0 to $115.0 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 | PUT | TRADE | BEARISH | 06/17/22 | $80.00 | $83.5K | 1.6K | 226 |
| AA | PUT | TRADE | BEARISH | 06/17/22 | $80.00 | $80.0K | 1.6K | 100 |
| AA | PUT | TRADE | BULLISH | 05/20/22 | $75.00 | $56.8K | 2.4K | 199 |
| AA | PUT | SWEEP | BEARISH | 04/22/22 | $82.00 | $51.6K | 1.4K | 455 |
| AA | CALL | SWEEP | BULLISH | 05/20/22 | $115.00 | $51.1K | 1.2K | 2.0K |
Where Is Alcoa Standing Right Now?
- With a volume of 3,470,060, the price of AA is down -9.42% at $78.74.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 84 days.
What The Experts Say On Alcoa:
- Morgan Stanley downgraded its action to Equal-Weight with a price target of $100
- Credit Suisse downgraded its action to Neutral with a price target of $82
- B. Riley Securities has decided to maintain their Neutral rating on Alcoa, which currently sits at a price target of $91.
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.
