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Alcoa call volume above normal and directionally bullish

Bullish option flow detected in Alcoa (AA) with 26,241 calls trading, 3x expected, and implied vol increasing almost 5 points to 49.60%. Jan-25 50 calls and Jan-25 36.5 puts are the most active options, with total volume in those strikes near 20,300 contracts. The Put/Call Ratio is 0.16. Earnings are expected on January 22nd.

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