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Alcoa (AA) Trade Idea

by | Jul 24, 2021

Alcoa (AA) setting up well in a falling channel from the May highs and poised to break out above $38 and a big volume shelf. A breakout has room up to $41 and the prior highs and then a measured move to $52-$53. AA has a lot of bullish open interest including buyers recently in the January $40 calls, Sept. $37 calls, and October $33 calls. AA is benefitting from surging prices and global demand, especially as the push towards decarbonization gains momentum.

Trade to Consider: Long the AA September $38 Calls for $2.55 or Better

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