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: Jan 19, 2029
Days to expiration: 832
Share price: $42.20
Put/call ratio (OI): 0.60
Put/call ratio (volume): 1.23
ATM implied volatility: 50.6%
Expected move: ±$32.24
Open interest (C / P): 1.05K / 627

AA options summary

The AA options chain for the January 19, 2029 expiration lists 12 call and 9 put contracts, with 832 days until expiration. Open interest stands at 1,049 calls and 627 puts, a put/call ratio of 0.60, which is tilted bullish, with calls outnumbering puts. At-the-money implied volatility near the $40.00 strike is 50.6%, which implies the market expects a move of about ±$32.24 (76.4%) in Alcoa stock by expiration.

The most open interest sits at the $40.00 call (769 contracts) and the $25.00 put (209 contracts).

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

AA options chain · January 19, 2029

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
21	20	64.8%	24.22	23.20	25.10	22.50	1.47	2.25	1.75	47.7%	11	25
6	5	63.0%	24.81	21.50	23.55	25.00	2.29	2.87	2.65	46.2%	2	209
24	5	58.7%	19.05	17.90	20.70	30.00	2.91	5.40	4.45	49.3%	26	89
37	16	56.9%	16.68	15.30	18.15	35.00	5.10	6.90	6.45	44.4%	125	145
769	3	56.2%	14.35	13.35	15.95	40.00	8.15	9.85	8.76	45.0%	9	36
AA $42.20
29	6	56.8%	12.50	12.20	14.05	45.00	10.55	12.75	11.75	43.8%	1	106
25	12	56.0%	11.07	10.55	12.45	50.00	12.90	15.35	14.38	40.4%	5	12
10	2	55.5%	9.70	9.20	11.05	55.00	16.05	19.10	18.30	40.5%	3	4
11	1	53.2%	8.70	7.05	9.90	60.00	—	—	—	—	—	—
18	17	54.6%	7.75	6.95	8.80	65.00	—	—	—	—	—	—
35	35	53.1%	6.50	5.95	7.45	70.00	—	—	—	—	—	—
64	26	51.7%	5.66	5.15	6.15	75.00	32.25	34.90	34.82	35.4%	—	1

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 January 19, 2029 expiration, the AA put/call ratio based on open interest is 0.60 (627 puts vs 1,049 calls), and 1.23 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 January 19, 2029 is about 50.6%, 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.