Alcoa Inc. (AA) was trading down .01 to 9.09.?? AA reported earnings after the close on Jan 8, 2013.
Paper sold a block of 2,000 AA Jan 9 calls for .25 which printed as a buy write.? The strike traded 10,876 contracts on the day with most options on the sell side.? Average contract volume is over 30,000 contracts per day in the name.? Open interest is over 86,000 contracts in the strike.? The implied volatility is down 17 points in Jan.? There is heavy volume on many of the 9 level strikes in AA.
30-day implied volatility is 23%.?? 10-day implied volatility is 27%.? 30 Day Implied volatility is trading just under the 10 day historical volatility.
Alcoa Inc. (AA) is engaged in the production and management of primary aluminum, fabricated aluminum, and alumina combined, through its participation in technology, mining, refining, smelting, fabricating, and recycling.