Alcoa (AA) Options Chain

NYSE: AAIndustrialsAluminumUSD

42.95+0.13 (+0.30%)

Market open · Delayed 15 min · as of Oct 9, 9:53 AM ET

Expiration date

Expiration: Oct 9, 2026
Days to expiration: 0
Share price: $42.81
Put/call ratio (OI): 0.35
Put/call ratio (volume): 0.40
ATM implied volatility: 68.8%
Expected move: ±$1.54
Open interest (C / P): 12.08K / 4.22K

AA options summary

The AA options chain for the October 9, 2026 expiration lists 43 call and 37 put contracts, expiring today. Open interest stands at 12,082 calls and 4,217 puts, a put/call ratio of 0.35, which is tilted bullish, with calls outnumbering puts. At-the-money implied volatility near the $43.00 strike is 68.8%, which implies the market expects a move of about ±$1.54 (3.6%) in Alcoa stock by expiration.

The most open interest sits at the $45.00 call (5.63K contracts) and the $40.00 put (1.31K contracts).

Summary generated from market data by MetaCap's automated system. Methodology

AA options chain · October 9, 2026

AA calls and puts by strike price. Shaded cells are in the money.
Calls							Puts
OI	Vol	IV	Last	Bid	Ask	Strike	Bid	Ask	Last	IV	Vol	OI
—	—	—	—	—	—	32.00	0.00	0.00	0.07	50.0%	6	6
16	3	366.4%	9.64	9.35	10.85	33.00	—	—	—	—	—	—
101	78	348.1%	8.64	8.45	9.85	34.00	—	—	—	—	—	—
100	79	251.6%	7.62	7.05	8.85	35.00	—	—	—	—	—	—
11	4	223.4%	6.65	6.05	7.85	36.00	0.00	0.52	0.09	260.9%	4	7
41	35	176.6%	5.65	5.10	6.70	37.00	0.00	0.72	0.10	253.1%	2	26
37	36	172.7%	5.00	4.65	6.20	37.50	0.00	0.00	0.01	50.0%	4	66
4	1	167.2%	4.53	4.20	5.70	38.00	0.00	0.24	0.01	160.9%	5	57
4	5	166.4%	4.89	3.70	5.30	38.50	0.00	0.00	0.02	50.0%	2	2
6	1	138.7%	3.44	3.20	4.70	39.00	0.00	0.00	0.02	50.0%	24	73
5	1	124.6%	2.93	2.70	4.20	39.50	0.00	0.24	0.01	119.5%	25	635
10	1	110.2%	2.52	2.20	3.70	40.00	0.00	0.25	0.03	106.6%	7	1,307
5	1	77.3%	2.01	1.70	3.05	40.50	0.00	0.25	0.02	92.2%	2	241
16	4	74.2%	1.68	1.30	2.54	41.00	0.00	0.25	0.04	77.3%	17	329
234	216	53.5%	1.33	0.72	2.06	41.50	0.02	0.19	0.11	58.6%	21	124
372	36	128.7%	0.95	0.30	1.59	42.00	0.05	0.22	0.11	59.8%	2	388
250	36	105.3%	0.55	0.10	1.10	42.50	0.20	0.31	0.33	50.4%	26	208
AA $42.81
541	15	59.2%	0.38	0.20	0.44	43.00	0.00	0.80	0.62	78.3%	19	339
726	10	51.8%	0.17	0.01	0.20	43.50	0.22	1.22	1.12	92.2%	7	185
1,302	91	52.5%	0.08	0.00	0.10	44.00	0.57	1.77	1.35	118.4%	40	86
416	80	51.6%	0.05	0.00	0.08	44.50	1.01	2.29	1.61	139.4%	36	63
5,625	49	65.6%	0.04	0.00	0.10	45.00	1.48	2.82	2.90	160.7%	8	9
192	46	95.7%	0.17	0.00	0.24	45.50	1.97	3.55	2.77	82.8%	56	0
508	14	109.0%	0.02	0.00	0.25	46.00	2.47	4.00	3.55	85.2%	28	3
211	13	50.0%	0.01	0.00	0.00	46.50	2.81	4.40	2.82	219.9%	3	0
84	2	174.2%	0.01	0.00	0.65	47.00	3.30	4.80	4.00	220.3%	28	10
92	2	126.6%	0.08	0.00	0.15	47.50	—	—	—	—	—	—
152	75	153.1%	0.04	0.00	0.25	48.00	4.30	5.85	5.89	255.7%	1	2
19	16	163.3%	0.02	0.00	0.25	48.50	4.80	6.40	6.17	276.8%	6	1
36	2	173.4%	0.25	0.00	0.25	49.00	5.30	6.80	6.60	274.0%	4	7
90	7	211.3%	0.31	0.00	0.45	49.50	5.80	7.35	7.43	294.9%	1	1
310	1	50.0%	0.01	0.00	0.00	50.00	6.15	7.45	8.03	230.5%	1	1
249	2	146.9%	0.01	0.00	0.03	51.00	7.15	8.65	8.44	294.5%	3	39
46	4	259.8%	0.08	0.00	0.44	52.00	8.60	10.00	8.85	223.4%	2	0
54	1	373.1%	0.05	0.00	1.29	53.00	9.15	11.05	5.74	410.6%	—	0
22	1	360.2%	0.12	0.00	0.95	54.00	10.15	0.00	5.50	—	—	0
31	11	50.0%	0.09	0.00	0.00	55.00	11.15	0.00	11.15	—	1	0
26	1	50.0%	0.13	0.00	0.00	56.00	11.80	14.00	13.84	465.2%	1	0
33	1	529.7%	0.05	0.00	2.13	57.00	12.80	15.05	14.76	494.1%	2	1
15	4	549.6%	0.20	0.00	2.13	58.00	14.60	0.00	15.94	—	1	1
2	1	568.8%	0.01	0.00	2.13	59.00	—	—	—	—	—	—
54	6	50.0%	0.01	0.00	0.00	60.00	—	—	—	—	—	—
2	7	50.0%	0.11	0.00	0.00	62.00	17.80	19.85	20.14	543.4%	4	0
32	3	50.0%	0.14	0.00	0.00	63.00	—	—	—	—	—	—

In-the-money callsIn-the-money puts. IV = implied volatility, OI = open interest (contracts). Each contract covers 100 shares. Quotes delayed at least 15 minutes.

Frequently asked questions

What is the AA put/call ratio?

For the October 9, 2026 expiration, the AA put/call ratio based on open interest is 0.35 (4,217 puts vs 12,082 calls), and 0.40 based on today's volume. A ratio above 1 means more puts than calls.

What is AA's implied volatility?

At-the-money implied volatility for AA options expiring October 9, 2026 is about 68.8%, an annualized estimate of how much the market expects Alcoa stock to move.

How many AA option expiration dates are there?

AA has 15 listed expiration dates, from Oct 9, 2026 to Jan 19, 2029.

What does "in the money" mean?

A call is in the money when the strike price is below the current share price; a put is in the money when the strike is above it. In-the-money contracts have intrinsic value and are shaded in the table.