A whale with a lot of money to spend has taken a noticeably bearish stance on Alcoa.
Looking at options history for Alcoa (NYSE:AA) we detected 12 strange trades.
If we consider the specifics of each trade, it is accurate to state that 33% of the investors opened trades with bullish expectations and 66% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $2,303,750 and 6, calls, for a total amount of $277,138.
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 $40.0 to $47.0 for Alcoa over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Alcoa options trades today is 3475.75 with a total volume of 8,869.00.
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 $40.0 to $47.0 over 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 | NEUTRAL | 01/20/23 | $47.00 | $1.1M | 1.4K | 1.5K |
| AA | PUT | TRADE | BULLISH | 01/20/23 | $47.00 | $955.5K | 1.4K | 1.3K |
| AA | PUT | SWEEP | BEARISH | 12/16/22 | $45.00 | $87.8K | 822 | 240 |
| AA | PUT | SWEEP | BULLISH | 11/18/22 | $45.00 | $77.6K | 4.2K | 489 |
| AA | CALL | TRADE | NEUTRAL | 01/19/24 | $43.00 | $59.5K | 52 | 300 |
Where Is Alcoa Standing Right Now?
- With a volume of 6,192,038, the price of AA is up 10.13% at $41.52.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 75 days.
What The Experts Say On Alcoa:
- Morgan Stanley has decided to maintain their Overweight rating on Alcoa, which currently sits at a price target of $60.
- BMO Capital has decided to maintain their Market Perform rating on Alcoa, which currently sits at a price target of $35.
- Goldman Sachs has decided to maintain their Buy rating on Alcoa, which currently sits at a price target of $51.
- UBS downgraded its action to Neutral with a price target of $43
- Credit Suisse has decided to maintain their Neutral rating on Alcoa, which currently sits at a price target of $45.
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 want to stay updated on the latest options trades for Alcoa, Benzinga Pro gives you real-time options trades alerts.
