Alcoa put volume heavy and directionally bearish
The Fly

Alcoa put volume heavy and directionally bearish

Bearish flow noted in Alcoa (AA) with 4,578 puts trading, or 3x expected. Most active are 11/1 weekly 40 puts and 11/1 weekly 39.5 puts, with total volume in those strikes near 4,300 contracts. The Put/Call Ratio is 8.87, while ATM IV is up over 2 points on the day. Earnings are expected on January 15th.

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