Alcoa (AA) $13.47 -1.25%

| December 3, 2009 | 1 Comment More

Alcoa (AA) traded 43,000 calls and 15,000 puts Wednesday, 1.2X average call volume, but with every large block trading at the offer, aggressively bullish plays. Shares quietly gained 6.6% on the day and IV rose 2%. Most of the action was short term buyers of December $14 calls, as shares broke out of a triangle on 49.4M shares, nearly twice the prior day. There has not been a lot of coverage of Alcoa lately, and it could be ripe for an upgrade.

Category: All Stocks

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  1. fredruffy says:
    December 3, 2009 at 1:31 pm

    Interesting. Seems like there’s a lot of momentum in the metals. XME more than double since Jan.

    Find more intra-day analysis like the AA story at Joe Kunkle’s web site:
    http://optionshawk.com/

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