Bullish option flow detected in Alcoa with 12,354 calls trading, 2x expected, and implied vol increasing over 1 point to 54.87%. 3/22 weekly 32 calls and Apr-24 30 calls are the most active options, with total volume in those strikes near 8,400 contracts. The Put/Call Ratio is 0.13. Earnings are expected on April 17th.
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Read More on AA:
- Alcoa price target raised to $32 from $31 at BofA
- Alcoa enters binding agreement to acquire Alumina Limited in all-stock deal
- Alcoa call volume above normal and directionally bullish
- Unusually active option classes on open March 7th
- Australian Stocks: Alumina (AWC) Approves Partner Alcoa’s Buyout Offer
