Alcoa (AA) Options Chain

NYSE: AAIndustrialsAluminumUSD

42.20-0.63 (-1.47%)

At close: Oct 9, 4:01 PM ET · Delayed 15 min

Expiration date

Expiration: Nov 13, 2026
Days to expiration: 34
Share price: $42.20
Put/call ratio (OI): 3.29
Put/call ratio (volume): 30.67
ATM implied volatility: 51.8%
Expected move: ±$6.67
Open interest (C / P): 41 / 135

AA options summary

The AA options chain for the November 13, 2026 expiration lists 2 call and 7 put contracts, with 34 days until expiration. Open interest stands at 41 calls and 135 puts, a put/call ratio of 3.29, which is more bearish, with puts outnumbering calls. At-the-money implied volatility near the $43.00 strike is 51.8%, which implies the market expects a move of about ±$6.67 (15.8%) in Alcoa stock by expiration.

The most open interest sits at the $51.00 call (31 contracts) and the $34.00 put (88 contracts).

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

AA options chain · November 13, 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
—	—	—	—	—	—	34.00	0.05	0.68	0.24	58.2%	73	88
—	—	—	—	—	—	35.00	0.04	0.50	0.35	57.7%	8	15
—	—	—	—	—	—	36.00	0.23	0.60	0.42	55.0%	5	8
AA $42.20
—	—	—	—	—	—	43.00	2.18	3.10	2.55	51.8%	3	20
—	—	—	—	—	—	45.00	3.60	4.45	3.55	53.4%	1	1
10	1	50.9%	1.42	0.89	1.59	46.00	—	—	—	—	—	—
—	—	—	—	—	—	49.00	6.10	7.80	6.79	60.7%	1	1
—	—	—	—	—	—	50.00	7.10	8.65	7.63	61.3%	1	2
31	2	50.4%	0.24	0.26	0.49	51.00	—	—	—	—	—	—

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 November 13, 2026 expiration, the AA put/call ratio based on open interest is 3.29 (135 puts vs 41 calls), and 30.67 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 November 13, 2026 is about 51.8%, an annualized estimate of how much the market expects Alcoa stock to move.

How many AA option expiration dates are there?

AA has 14 listed expiration dates, from Oct 16, 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.