10800 AA Feb39/40 call spreads up in 2 blocks on the PHLX marked spread.?
Shares of Alcoa Inc (AA) are up 1.50 to 37.76 today. AA is in the upper end of the 52 week range.
Paper traded 10800 Feb39 40 call spreads for .70 and .40.? The ADV is 4519 contracts.? The OI is 811 and 11717 contracts.
The volume went up in 2 blocks on the PHLX marked spread.? The trade is most likely a close on the Feb 40s and a buy on the Feb39s.? The trader must be expecting more upside and this is likely a roll but got very favorable pricing.
IV 30 is trading for 35%.? HV10 is trading for 26%.? IV 30 is trading above the HV 10.
Alcoa Corporation, formerly Alcoa Upstream Corporation, is engaged in the production of bauxite, alumina and aluminum of various cast and rolled products.