Investors with a lot of money to spend have taken a bullish stance on Alcoa (NYSE: AA).
And retail traders should know.
We noticed this today when the positions 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.
Today, Benzinga’s options scanner spotted 8 options trades for Alcoa.
This isn’t normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $113,460, and 7, calls, for a total amount of $632,647.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $25.0 to $37.0 for Alcoa over the last 3 months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Alcoa’s options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Alcoa’s substantial trades, within a strike price spectrum from $25.0 to $37.0 over the preceding 30 days.
Alcoa Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AA | CALL | SWEEP | BULLISH | 01/15/27 | $13.2 | $11.65 | $12.2 | $25.00 | $225.7K | 528 | 195 |
| AA | CALL | SWEEP | BEARISH | 10/03/25 | $0.61 | $0.58 | $0.58 | $34.50 | $131.8K | 9.4K | 5.7K |
| AA | CALL | SWEEP | BULLISH | 10/03/25 | $0.54 | $0.47 | $0.53 | $34.50 | $120.4K | 9.4K | 8.0K |
| AA | PUT | SWEEP | BEARISH | 01/16/26 | $1.83 | $1.82 | $1.83 | $30.00 | $113.4K | 11.1K | 600 |
| AA | CALL | TRADE | BULLISH | 10/17/25 | $0.52 | $0.32 | $0.52 | $37.00 | $42.2K | 60 | 1.4K |
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 trading volume of 5,301,441, the price of AA is up by 3.13%, reaching $33.73.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 23 days from now.
What Analysts Are Saying About Alcoa
3 market experts have recently issued ratings for this stock, with a consensus target price of $37.33.
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 UBS continues to hold a Neutral rating for Alcoa, targeting a price of $34.
* Consistent in their evaluation, an analyst from B. Riley Securities keeps a Buy rating on Alcoa with a target price of $40.
* Consistent in their evaluation, an analyst from B. Riley Securities keeps a Buy rating on Alcoa with a target price of $38.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Alcoa options trades with real-time alerts from Benzinga Pro.
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