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AA

Alcoa AA: Profitable correction?Recent breakout of cup formation with retesting breakout line. Could still short term go back to up channel line but longer term think likely will up wave to about 70 which would be .62 correction If you like fundamentals see: seekingalpha.com Interesting to me is the 2 negative reversals in the RSI (dashed black lines) both of which led to a negative trend change. The first was aborted by a bullish divergence. Currently have a potential bearish divergence.
NYSE:AALong
by goodguy
TRADE IDEA: AA MAY 5TH 28/32/32/36 IRON FLYAA (implied volatility rank 73/implied volatility 48) announces earnings on Monday after market close, so look to put on a play before the end of the session to take advantage of the post-announcement volatility crush. Metrics: Max Profit: $210/contract Max Loss/Buying Power Effect: $190/contract Break Evens: 29.90/34.10 Theta: 4.96 Delta: 3.51 Notes: This is a preliminary setup that may require some tweaking once NY opens. As with all short straddles/iron flies, I would look to manage this at 25% max profit. Currently, the setup is bid 1.75/mid 2.10/ask 2.45, which is not exactly "tight." Personally, I will look for a fill at or slightly above the mid price. The fly's an 8-wide, so I would have to get 1/4th the width of the wings out of it to make it worthwhile anyhow (i.e., >2.00).
NYSE:AA
by NaughtyPines
THE WEEK AHEAD: FRENCH ELECTIONS AND THE VIX; AA, X, and UAWith the French primaries in the rear view mirror and some market unease abated due to the result, VIX futures are caving hard as of the writing of this post (the May contract is down 8% to 13.15). This, unfortunately, changes the potential complexion of next week's market for me, since it is likely that implied volatility will dry up somewhat in SPY/SPX and RUT/IWM, making selling premium in them less productive than it would have been at Friday close. Oh, well. You take what the market gives you ... . With earnings season in full swing, we've got a lot of stuff announcing next week, but not everything is playable or worthwhile from a premium selling standpoint. Right now, I'm focused on three underlyings which have something approaching the right metrics I'm looking for in these plays (>70 implied volatility rank/>50 implied volatility): AA, which announces on Monday after market close; X, which announces Tuesday after market; and UA, which announces Thursday before market. As we get closer to those announcements (and I've got live market data to work with), I'll post setups for those if they look good enough for plays from a dollar and cents and liquidity standpoint. Last time I looked at a AA setup, for example, I wasn't happy with what I saw for a bid/ask in the expiry I wanted to use for the play ... . With exchange traded funds, nothing is looking particularly "sexy" here, and it's likely to look even less sexy at NY open, since a low VIX invariably permeates the entire market. That being said, XOP does approach my metrics for a play, although I'm already in a put diagonal that will require some attention and may lead me to beg off putting on some more, since I don't want to have a new setup get in the way of any rolls I need to do.
TVC:VIX
by NaughtyPines
Trade Alert: $AA Likely To Hit Big Short Level At This Price... Shares of Alcoa (NYSE:AA) bounced higher last week even as the stock market and commodities dropped. Today they are surging again and likely going higher as the stock has yet to hit any major resistance. The resistance level is at $27.00. This is the point where I am going to pull the trigger on a short trade. The stock will have been up over five days straight and tag a major gap fill when it hits that price. it likely will happen this week. In technical analysis, gap fills are major resistance points when a stock rises into it. This would be the case with Alcoa. As I believe a post election rally is at hand, I will wait patiently for it to hit later this week. Stay tuned. It is a great stock trade setup. Jenny
NYSE:AAShort
by jenny_rebekka