3.31K calls and 1.53K puts traded on Nov 4, 2026, 4.84K contracts in total. Open interest was 292.57K contracts. Over the past 30 days, volume averaged 17.62K contracts per day. The AA option volume chart shows volume by strike and expiration date.

Alcoa IV rank is 6, so its 30-day implied volatility of 44.3% is near the bottom of its one-year range. Over the past year it ranged from 42.0% on Oct 15, 2026 to 78.0% on Mar 31, 2026. See the AA implied volatility history for a longer view.

The Alcoa put/call volume ratio was 0.46 on Nov 4, 2026, so calls outnumber puts. The put/call open interest ratio was 1.11. The AA open interest chart shows calls and puts at each strike.

As of the Nov 4, 2026 close, max pain for Alcoa options about one week from expiration was $40.57, close to the $40.58 close. The AA max pain chart shows it for every expiration date.

Based on 7-day implied volatility of 47.5%, options price a move of about ±$2.67 (±6.6%) over the next week, a range of roughly $37.91 to $43.25 from the Nov 4, 2026 close. The AA expected move chart shows it for every expiration date.