AA210820P00060000 Option on Alcoa Corp
| AA Stock | USD 36.57 1.37 3.89% |
Alcoa Corp's option chain provides insight into all available option contracts written on Alcoa Corp's stock. Investors can see outstanding put and call contracts with pricing information and greeks for a given expiration period. In addition, each of Alcoa Corp's stock options below provides a detailed picture of the payoff. Comparing vital and dynamic information of various option contracts across diverse expiration periods will help you make an educated decision on your market timing strategies around investing in a given Alcoa option contract.
In The Money vs. Out of Money Option Contracts on Alcoa Corp
Analyzing Alcoa Corp's in-the-money options over time can help investors to take a profitable long position in Alcoa Corp regardless of its overall volatility. This is especially true when Alcoa Corp's options are deep in the money. These options can be identified using deltas that are over 0.75. Deep in-the-money Alcoa Corp's options could be used as guardians of the underlying stock as they move almost dollar for dollar with Alcoa Corp's stock while costing only a fraction of its price.
Alcoa Corp's latest option contracts expiring on 2024-04-19 are carrying combined implied volatility of 70.95 with a put-to-call open interest ratio of 0.92 over 78 outstanding agreements suggesting investors are buying slightly more calls than puts on contracts expiring on 2024-04-19. The current put volume is at 3467, with calls trading at the volume of 2719. This yields a 1.28 put-to-call volume ratio. The Alcoa Corp option chain provides detailed quote and price information for the current Alcoa Corp option contracts. It shows all of Alcoa Corp's listed puts, calls, expiration dates, strike prices, and other pricing information.
Open Interest Against 2024-04-19 Option Contracts
Alcoa Corp option prices can potentially be used to forecast stock returns because most option chains provide information not only about the current prices but also about the future conditions in Alcoa Corp's lending market. For example, when Alcoa Corp's puts are not actively trading or completely missing in the marketplace, investors can use it to internalize expected shorting costs. So if an investor is writing a put option on Alcoa Corp, he or she must hedge the risk by shorting Alcoa Corp stock over its option's life.
2024-04-19
The chart above shows Alcoa Corp's distribution of open interest by maturity on contracts that have not yet been settled. The area between the two highest points is the projection of the price at expiration. Alcoa Corp's open interest chart also provides vital information regarding the liquidity of an option. If there is no open interest for Alcoa Corp's option, there is no secondary market available for investors to trade.
Alcoa Corp Maximum Pain Price across 2024-04-19 Option Contracts
Max pain usually refers to a trading concept that asserts that market manipulation can cause the market price of particular securities such as Alcoa Corp close to expiration to expire worthless. According to most research, approximately 10% to 15% of all stock options are exercised, while about 35% expire worthlessly, with roughly 50% traded out before the expiration date. So, Max pain occurs when market makers reach a net positive position across all options at a strike price where option holders stand to lose the most money. By contrast, option sellers may reap the most after selling more options than buying, causing them to expire worthless.
Alcoa Corp's stock options are financial instruments that give investors the right to buy or sell shares of Alcoa Corp common stock at a specified price for a given time period. Generally speaking, an option to purchase or sell Alcoa stock makes it part of the underlying stock when the option's price is tied to the movement of the underlying stock. If Alcoa Corp's stock price goes up or down, the stock options follow.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Alcoa Corp. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in nation. Please note that buying 'in-the-money' options on Alcoa Corp lessens the impact of time decay, as they carry both intrinsic and time value. So, even if Alcoa Corp's value remains static through the expiration date, the investor can sell to close an 'in-the-money' option to avoid a potential loss. However, in-the-money Alcoa Corp contracts are usually more expensive to enter than their out-of-the-money counterparts. So keep in mind that while the payoffs on an in-the-money trade can be high, the investors could ultimately experience a more consequential loss if Alcoa Stock moves the wrong way.
At present, Alcoa Corp's Common Stock Shares Outstanding is projected to increase significantly based on the last few years of reporting. The current year's Total Stockholder Equity is expected to grow to about 4.6 B, whereas Common Stock Total Equity is forecasted to decline to about 1.7 M. Alcoa Corp In The Money Call Balance
When Alcoa Corp's strike price is surpassing the current stock price, the option contract against Alcoa Corp stock is said to be in the money. When it comes to buying Alcoa Corp's options that are 'In the Money' or 'Out of the Money', the choice depends on your outlook for the underlying security, financial situation, and what you are trying to achieve.
While 'out-of-the-money' option contracts written on Alcoa Corp are typically viewed as the more aggressive, there are potential upsides to purchasing these types of options contracts. For one, the cost to buy an 'Out of the Money' option is lower than the cost to buy an 'In the Money' option. This cost-benefit is due to the fact that at the time of the purchase, 'Out of the Money' contracts have no intrinsic value. So, while the potential for a 100% loss is more significant, the cost and risk to enter the trade are lower.
Alcoa Current Options Market Mood
Alcoa Corp's open interest and total value indicators provide investors with the necessary information to digest the overall options buildup for its expiring contracts. In addition, it helps Alcoa Stock's traders understand whether a recent fall or rise in the market is unreasonable and if the time has come to take contrarian positions. These ratios are calculated based on options trading volumes and current open interest.
Put-to-Call Open Interest
Put-to-Call Volume
Most options investors, including buyers and sellers of Alcoa Corp's calls and puts, are not very successful. It is estimated that an average options trader loses somewhere between 80% to 90% of the time. Alcoa Corp's option open interest and volume spread between outstanding puts and calls are regarded by many investors as reliable indicators of the overall future market direction. Using current Alcoa Corp's option volume and open interest to make an investment decision is considered a contrarian-sentiment measure that can be utilized in many timing strategies in both derivative and spot marketplace.
Rule 16 of the current Alcoa contract
Base on the Rule 16, the options market is currently suggesting that Alcoa Corp will have an average daily up or down price movement of about 4.43% per day over the life of the 2024-04-19 option contract. With Alcoa Corp trading at USD 36.57, that is roughly USD 1.62. If you think that the market is fully incorporating Alcoa Corp's daily price movement you should consider buying Alcoa Corp options at the current volatility level of 70.95%. But if you have an opposite viewpoint you should avoid it and even consider selling them.
Alcoa |
Purchasing Alcoa Corp options can give investors a meaningful hedge against losses and, therefore, could be used conservatively to decrease the volatility of your portfolio. However, many options could also amount to little more than gambling, significantly enhancing your overall portfolio risk. One simple example of these aggressive strategies is the sale of "uncovered" Alcoa calls. Remember, the seller must deliver Alcoa Corp stock to the call owner when a call is exercised.
Alcoa Corp Option Chain
When Alcoa Corp's strike price is surpassing the current stock price, the option contract against Alcoa Corp stock is said to be in the money. When it comes to buying options that are ITM or OTM, the choice depends on your outlook for the underlying security, financial situation, and what you are trying to achieve.
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Alcoa Corp's option chain is a display of a range of information that helps investors for ways to trade options on Alcoa. In general, an option chain provides a helpful tool for investors to see all available option contracts, both puts, and calls, for Alcoa. It also shows strike prices and maturity days for a Alcoa Corp against a given expiration period. The table below combines all the option information in the form of a chain but before you use it, remember that it entails significant risk and it is not for everyone. | Delta | Gamma | Open Int | Expiration | Current Spread | Last Price | |||
Call | 2024-04-19 CALL at $12.5 | 0.9604 | 0.0032 | 41 | 2024-04-19 | 22.35 - 24.2 | 22.0 | In |
Call | 2024-04-19 CALL at $15.0 | 0.9378 | 0.0048 | 98 | 2024-04-19 | 19.25 - 21.15 | 18.15 | In |
Call | 2024-04-19 CALL at $17.5 | 0.9707 | 0.0045 | 171 | 2024-04-19 | 17.1 - 17.9 | 18.5 | In |
Call | 2024-04-19 CALL at $20.0 | 0.9753 | 0.0052 | 200 | 2024-04-19 | 15.05 - 15.6 | 16.0 | In |
Call | 2024-04-19 CALL at $21.0 | 0.9879 | 0.0037 | 1 | 2024-04-19 | 14.15 - 14.35 | 15.75 | In |
Call | 2024-04-19 CALL at $22.0 | 0.9944 | 0.0023 | 24 | 2024-04-19 | 13.15 - 13.3 | 14.2 | In |
Call | 2024-04-19 CALL at $22.5 | 0.9752 | 0.0068 | 1136 | 2024-04-19 | 12.6 - 12.8 | 13.65 | In |
Call | 2024-04-19 CALL at $23.0 | 0.9943 | 0.0026 | 2 | 2024-04-19 | 12.15 - 12.3 | 6.95 | In |
Call | 2024-04-19 CALL at $24.0 | 0.9782 | 0.0074 | 0 | 2024-04-19 | 11.15 - 11.4 | 13.45 | In |
Call | 2024-04-19 CALL at $24.5 | 0.994 | 0.0031 | 2 | 2024-04-19 | 9.65 - 11.8 | 7.65 | In |
Call | 2024-04-19 CALL at $25.0 | 0.9764 | 0.0087 | 1745 | 2024-04-19 | 10.05 - 10.5 | 12.45 | In |
Call | 2024-04-19 CALL at $25.5 | 0.9106 | 0.0172 | 8 | 2024-04-19 | 9.5 - 10.8 | 11.1 | In |
Call | 2024-04-19 CALL at $26.0 | 0.9546 | 0.0142 | 17 | 2024-04-19 | 8.9 - 9.8 | 10.26 | In |
Call | 2024-04-19 CALL at $26.5 | 0.9159 | 0.0195 | 0 | 2024-04-19 | 7.7 - 9.05 | 0.0 | In |
Call | 2024-04-19 CALL at $27.0 | 0.8756 | 0.0224 | 55 | 2024-04-19 | 7.45 - 8.85 | 9.87 | In |
Call | 2024-04-19 CALL at $27.5 | 0.9475 | 0.0189 | 19 | 2024-04-19 | 7.65 - 8.05 | 9.15 | In |
Call | 2024-04-19 CALL at $28.0 | 0.9687 | 0.0156 | 39 | 2024-04-19 | 6.9 - 7.65 | 8.92 | In |
Call | 2024-04-19 CALL at $28.5 | 0.949 | 0.022 | 58 | 2024-04-19 | 6.55 - 7.1 | 8.65 | In |
Call | 2024-04-19 CALL at $29.0 | 0.8554 | 0.0319 | 61 | 2024-04-19 | 5.7 - 6.8 | 6.2 | In |
Call | 2024-04-19 CALL at $29.5 | 0.9626 | 0.0226 | 89 | 2024-04-19 | 5.7 - 5.85 | 7.2 | In |
Call | 2024-04-19 CALL at $30.0 | 0.9484 | 0.0295 | 15094 | 2024-04-19 | 5.25 - 5.4 | 5.3 | In |
Call | 2024-04-19 CALL at $30.5 | 0.9337 | 0.0369 | 82 | 2024-04-19 | 4.75 - 4.9 | 5.35 | In |
Call | 2024-04-19 CALL at $31.0 | 0.9088 | 0.0468 | 350 | 2024-04-19 | 4.3 - 4.45 | 5.25 | In |
Call | 2024-04-19 CALL at $31.5 | 0.9107 | 0.0534 | 396 | 2024-04-19 | 3.85 - 4.0 | 3.85 | In |
Call | 2024-04-19 CALL at $32.0 | 0.8814 | 0.0669 | 353 | 2024-04-19 | 3.4 - 3.55 | 3.4 | In |
Call | 2024-04-19 CALL at $32.5 | 0.8148 | 0.08 | 316 | 2024-04-19 | 3.0 - 3.15 | 4.3 | In |
Call | 2024-04-19 CALL at $33.0 | 0.7675 | 0.0909 | 415 | 2024-04-19 | 2.63 - 2.72 | 2.7 | In |
Call | 2024-04-19 CALL at $33.5 | 0.7219 | 0.103 | 672 | 2024-04-19 | 2.27 - 2.35 | 2.26 | In |
Call | 2024-04-19 CALL at $34.0 | 0.6668 | 0.1125 | 597 | 2024-04-19 | 1.94 - 2.0 | 1.91 | In |
Call | 2024-04-19 CALL at $34.5 | 0.6077 | 0.1198 | 508 | 2024-04-19 | 1.63 - 1.69 | 1.99 | In |
Call | 2024-04-19 CALL at $35.0 | 0.5462 | 0.1265 | 7419 | 2024-04-19 | 1.34 - 1.4 | 1.36 | In |
Call | 2024-04-19 CALL at $35.5 | 0.4827 | 0.1273 | 1109 | 2024-04-19 | 1.11 - 1.16 | 1.12 | Out |
Call | 2024-04-19 CALL at $36.0 | 0.4193 | 0.1261 | 946 | 2024-04-19 | 0.9 - 0.94 | 0.9 | Out |
Call | 2024-04-19 CALL at $37.0 | 0.3029 | 0.1129 | 2762 | 2024-04-19 | 0.57 - 0.61 | 0.57 | Out |
Call | 2024-04-19 CALL at $38.0 | 0.2078 | 0.092 | 1066 | 2024-04-19 | 0.35 - 0.38 | 0.35 | Out |
Call | 2024-04-19 CALL at $39.0 | 0.1442 | 0.0701 | 1660 | 2024-04-19 | 0.21 - 0.24 | 0.23 | Out |
Call | 2024-04-19 CALL at $40.0 | 0.0901 | 0.0503 | 2363 | 2024-04-19 | 0.12 - 0.14 | 0.15 | Out |
Call | 2024-04-19 CALL at $45.0 | 0.0151 | 0.0098 | 529 | 2024-04-19 | 0.0 - 0.08 | 0.02 | Out |
Call | 2024-04-19 CALL at $50.0 | 0.0066 | 0.0038 | 326 | 2024-04-19 | 0.0 - 0.01 | 0.01 | Out |
Put | 2024-04-19 PUT at $25.0 | -0.006 | 0.0034 | 9224 | 2024-04-19 | 0.0 - 0.01 | 0.01 | Out |
Put | 2024-04-19 PUT at $28.0 | -0.0084 | 0.0066 | 1084 | 2024-04-19 | 0.01 - 0.02 | 0.01 | Out |
Put | 2024-04-19 PUT at $28.5 | -0.0878 | 0.0272 | 76 | 2024-04-19 | 0.01 - 0.5 | 0.04 | Out |
Put | 2024-04-19 PUT at $29.0 | -0.0322 | 0.0189 | 189 | 2024-04-19 | 0.01 - 0.5 | 0.05 | Out |
Put | 2024-04-19 PUT at $29.5 | -0.0436 | 0.0245 | 88 | 2024-04-19 | 0.05 - 0.23 | 0.07 | Out |
Put | 2024-04-19 PUT at $30.0 | -0.0469 | 0.0282 | 4323 | 2024-04-19 | 0.06 - 0.09 | 0.07 | Out |
Put | 2024-04-19 PUT at $30.5 | -0.0641 | 0.0365 | 183 | 2024-04-19 | 0.08 - 0.12 | 0.1 | Out |
Put | 2024-04-19 PUT at $31.0 | -0.0781 | 0.0445 | 976 | 2024-04-19 | 0.12 - 0.15 | 0.12 | Out |
Put | 2024-04-19 PUT at $31.5 | -0.105 | 0.0558 | 394 | 2024-04-19 | 0.17 - 0.21 | 0.17 | Out |
Put | 2024-04-19 PUT at $32.0 | -0.145 | 0.0682 | 610 | 2024-04-19 | 0.22 - 0.28 | 0.26 | Out |
Put | 2024-04-19 PUT at $32.5 | -0.1819 | 0.0804 | 459 | 2024-04-19 | 0.32 - 0.36 | 0.23 | Out |
Put | 2024-04-19 PUT at $33.0 | -0.2271 | 0.0923 | 144 | 2024-04-19 | 0.42 - 0.48 | 0.45 | Out |
Put | 2024-04-19 PUT at $33.5 | -0.2771 | 0.1036 | 570 | 2024-04-19 | 0.56 - 0.6 | 0.58 | Out |
Put | 2024-04-19 PUT at $34.0 | -0.3321 | 0.1137 | 675 | 2024-04-19 | 0.72 - 0.75 | 0.71 | Out |
Put | 2024-04-19 PUT at $34.5 | -0.3916 | 0.1216 | 1007 | 2024-04-19 | 0.9 - 0.94 | 0.86 | Out |
Put | 2024-04-19 PUT at $35.0 | -0.4543 | 0.1264 | 1594 | 2024-04-19 | 1.14 - 1.19 | 1.14 | Out |
Put | 2024-04-19 PUT at $35.5 | -0.5182 | 0.1282 | 506 | 2024-04-19 | 1.37 - 1.41 | 1.42 | In |
Put | 2024-04-19 PUT at $36.0 | -0.582 | 0.127 | 322 | 2024-04-19 | 1.66 - 1.72 | 1.67 | In |
Put | 2024-04-19 PUT at $37.0 | -0.7016 | 0.1144 | 222 | 2024-04-19 | 2.33 - 2.41 | 2.33 | In |
Put | 2024-04-19 PUT at $38.0 | -0.7945 | 0.0922 | 412 | 2024-04-19 | 3.05 - 3.2 | 3.02 | In |
Put | 2024-04-19 PUT at $39.0 | -0.8607 | 0.0699 | 295 | 2024-04-19 | 3.75 - 4.1 | 4.0 | In |
Put | 2024-04-19 PUT at $40.0 | -0.9054 | 0.0513 | 83 | 2024-04-19 | 4.85 - 5.0 | 4.81 | In |
Put | 2024-04-19 PUT at $45.0 | -0.9284 | 0.0245 | 25 | 2024-04-19 | 8.7 - 9.95 | 8.45 | In |
Put | 2024-04-19 PUT at $50.0 | -0.999 | 0.5578 | 0 | 2024-04-19 | 14.7 - 14.9 | 15.0 | In |
Alcoa Corp Common Stock Shares Outstanding Over Time
The total number of shares of a company's common stock that are currently owned by all its shareholders. Common Stock Shares Outstanding |
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Alcoa Corp Total Stockholder Equity Over Time
The total equity held by shareholders, calculated as the difference between a company's total assets and total liabilities. It represents the net value of the company owned by shareholders. Total Stockholder Equity |
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Alcoa Total Stockholder Equity
Total Stockholder Equity |
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Alcoa Corp Corporate Directors
Alcoa Corp corporate directors refer to members of an Alcoa Corp board of directors. The board of directors generally takes responsibility for the Alcoa Corp's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Alcoa Corp's board members must vote for the resolution. The Alcoa Corp board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Julie Richardson | Director | Profile | |
| Carol Roberts | Independent Director | Profile | |
| Kathryn Fuller | Independent Director | Profile | |
| Mary Citrino | Independent Director | Profile |
Already Invested in Alcoa Corp?
The danger of trading Alcoa Corp is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Alcoa Corp is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Alcoa Corp. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Alcoa Corp is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Alcoa Corp offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Alcoa Corp's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Alcoa Corp Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Alcoa Corp Stock: Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Alcoa Corp. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in nation. For information on how to trade Alcoa Stock refer to our How to Trade Alcoa Stock guide.Note that the Alcoa Corp information on this page should be used as a complementary analysis to other Alcoa Corp's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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When running Alcoa Corp's price analysis, check to measure Alcoa Corp's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Alcoa Corp is operating at the current time. Most of Alcoa Corp's value examination focuses on studying past and present price action to predict the probability of Alcoa Corp's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Alcoa Corp's price. Additionally, you may evaluate how the addition of Alcoa Corp to your portfolios can decrease your overall portfolio volatility.
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Is Alcoa Corp's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Alcoa Corp. If investors know Alcoa will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Alcoa Corp listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.81 | Dividend Share 0.4 | Earnings Share (3.65) | Revenue Per Share 59.275 | Quarterly Revenue Growth (0.03) |
The market value of Alcoa Corp is measured differently than its book value, which is the value of Alcoa that is recorded on the company's balance sheet. Investors also form their own opinion of Alcoa Corp's value that differs from its market value or its book value, called intrinsic value, which is Alcoa Corp's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Alcoa Corp's market value can be influenced by many factors that don't directly affect Alcoa Corp's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Alcoa Corp's value and its price as these two are different measures arrived at by different means. Investors typically determine if Alcoa Corp is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Alcoa Corp's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.