Alcoa Corp (AA) Options

25.71 ↓0.73 (-2.76%)

As of December 31, 1969, 7:00pm EST.

AA Max Pain

The max pain for AA on May 2nd, 2025 is $24.

Alcoa Corp is currently $25.71 which is 7.13% higher than its max pain. According to the max pain theory, Alcoa Corp will likely gravitate lower closer to $24 by May 2nd.

Outlook: Negative

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AA Max Pain Distribution Chart

Option Chain

The option chain for Alcoa Corp on May 2nd.

Calls

Strike	Last Price	Breakeven	Bid	Ask	Volume	Open Interest	IV	Delta	Gamma	Theta	Vega	Theoretical Value
14	12.24	2.06%	11.25	12.35	0	10	261.42	0.976	0.0065	-0.0407	0.0018	11.8
15	0	N/A	10.3	11.15	0	0	173.2	0.9942	0.0028	-0.0082	0.0005	10.73
15.5	0	N/A	9.7	10.95	0	0	233.47	0.967	0.0095	-0.0476	0.0024	10.33
16	8.55	-4.51%	8.95	10.1	0	1	296.3	0.9248	0.0145	-0.1158	0.0047	10.1
16.5	0	N/A	8.25	9.45	0	0	246.69	0.9406	0.0145	-0.0805	0.0039	9.45
17	8.55	-0.62%	7.8	9.25	0	1	293.77	0.9009	0.018	-0.1411	0.0057	9.25
17.5	0	N/A	7.5	8.35	0	0	192.92	0.9534	0.0153	-0.0524	0.0032	8.35
18	0	N/A	7.4	8.15	0	0	153.75	0.9716	0.0127	-0.0282	0.0021	7.78
18.5	0	N/A	6.75	7.6	0	0	223.17	0.9021	0.0234	-0.1066	0.0057	7.6
19	0	N/A	6.05	7.15	0	0	217.71	0.8895	0.0262	-0.1136	0.0062	7.15
19.5	0	N/A	4.5	7.15	0	0	271.16	0.8339	0.0279	-0.1863	0.0082	7.15
20	6.32	2.37%	5.65	6.75	0	19	197.6	0.8684	0.0327	-0.1166	0.007	6.2
20.5	5.39	0.70%	3.25	7.25	0	0	93.99	0.9738	0.0195	-0.0169	0.002	5.25
21	4.3	-1.59%	4.45	4.95	0	62	133.86	0.8973	0.0405	-0.0668	0.0059	4.95
21.5	4.25	0.16%	2.77	6.3	4	0	76.75	0.9691	0.0274	-0.016	0.0023	4.25
22	4.45	2.88%	2.39	5.8	0	30	130.71	0.8451	0.0552	-0.0866	0.0078	4.1
22.5	3.59	1.48%	2.58	4.65	0	3	120.45	0.8272	0.0643	-0.0857	0.0084	3.62
23	2.82	0.43%	2.77	2.98	2	107	68.03	0.9074	0.0738	-0.0324	0.0055	2.82
23.5	2.6	1.52%	2.34	2.64	13	25	93.11	0.7927	0.0931	-0.0743	0.0094	2.6
24	1.86	0.58%	1.89	2.07	4	97	67.67	0.7999	0.1254	-0.0533	0.0092	1.98
24.5	1.6	1.52%	1.15	1.78	33	101	66.6	0.7298	0.1506	-0.0617	0.0109	1.6
25	1.2	1.91%	1.22	1.32	173	330	66.51	0.6466	0.1695	-0.069	0.0122	1.27
25.5	0.9	2.68%	0.01	2.88	44	186	59.93	0.5599	0.1997	-0.0659	0.013	0.9
26	0.68	3.77%	0.55	0.77	259	318	61.41	0.4611	0.1961	-0.0678	0.0131	0.68
26.5	0.45	4.82%	0.38	0.54	99	553	58.3	0.3588	0.1945	-0.0605	0.0123	0.45
27	0.28	6.11%	0.2	0.33	75	187	55.87	0.2606	0.1763	-0.0503	0.0107	0.28
27.5	0.17	7.62%	0.14	0.53	49	135	54.75	0.1794	0.1451	-0.0397	0.0086	0.17
28	0.09	9.26%	0.07	0.12	84	251	52.62	0.1104	0.1087	-0.0275	0.0062	0.09
28.5	0.09	11.20%	0.03	0.72	2	5	60.31	0.0989	0.0875	-0.029	0.0057	0.09
29	0.03	12.91%	0.03	0.06	3	77	53.38	0.0428	0.0517	-0.0134	0.003	0.03
29.5	0.03	14.86%	0.02	0.41	19	314	59.41	0.0391	0.0432	-0.0139	0.0028	0.03
30	0.05	16.88%	0	0.3	1	85	71.78	0.052	0.0449	-0.0211	0.0035	0.05
31	0.03	20.69%	0	1.26	0	35	166.32	0.221	0.0541	-0.136	0.0098	0.63
32	0.04	24.62%	0	0.15	0	31	102.37	0.055	0.0329	-0.0314	0.0037	0.08
33	0.01	28.39%	0	1.26	0	52	197.5	0.1955	0.0424	-0.1501	0.0091	0.63
34	0.15	32.83%	0	0.1	0	35	115.37	0.035	0.0203	-0.0245	0.0025	0.05
35	0.01	36.17%	0	0.05	0	131	112.28	0.0193	0.0127	-0.0146	0.0016	0.03
36	0.12	40.49%	0	0.12	0	14	138.25	0.0353	0.0171	-0.0296	0.0026	0.06
37	0.36	45.31%	0	0.18	0	16	157.98	0.0452	0.0182	-0.0413	0.0031	0.09
38	0.11	48.23%	0	1.27	0	35	262.55	0.1608	0.0282	-0.1763	0.008	0.64
39	0.24	52.63%	0	1.27	0	20	273.75	0.1561	0.0265	-0.1802	0.0079	0.64
40	0.26	56.59%	0	0.45	0	18	219.72	0.0768	0.0199	-0.0871	0.0048	0.23
41	0.01	59.51%	0	1.27	0	59	294.87	0.1481	0.0238	-0.1875	0.0076	0.63
42	0.36	64.76%	0	1.27	0	3	304.84	0.1447	0.0226	-0.1908	0.0075	0.64
43	0.28	68.34%	0	0.64	0	9	265.29	0.09	0.0186	-0.1185	0.0054	0.32
44	0.07	71.41%	0	0.05	0	1	178.92	0.013	0.0057	-0.0165	0.0011	0.03
45	0.03	75.15%	0	0.99	0	1	312.2	0.1156	0.0189	-0.1672	0.0064	0.5
50	0	N/A	0	0.81	0	0	336.32	0.0924	0.0149	-0.1531	0.0055	0.41

Puts

Strike	Last Price	Breakeven	Bid	Ask	Volume	Open Interest	IV	Delta	Gamma	Theta	Vega	Theoretical Value
14	0.58	-43.29%	0	0.01	0	3	177.53	-0.0027	0.0014	-0.004	0.0003	0.01
15	0.03	-41.54%	0	0.87	0	52	339.42	-0.0726	0.0123	-0.1285	0.0046	0.44
15.5	0	N/A	0	0.23	0	0	235.3	-0.0336	0.0096	-0.0483	0.0025	0.12
16	0.01	-37.73%	0	0.03	0	3	160.59	-0.008	0.0041	-0.0097	0.0007	0.02
16.5	0	N/A	0	0.93	0	0	296.82	-0.0874	0.0162	-0.1293	0.0052	0.47
17	0.21	-33.06%	0	0.38	0	6	221.53	-0.0548	0.0152	-0.0674	0.0037	0.19
17.5	0.07	-31.66%	0	0.23	0	1	186.71	-0.0419	0.0145	-0.0458	0.003	0.12
18	0.11	-29.56%	0	0.43	0	20	202.47	-0.0662	0.0193	-0.0714	0.0042	0.22
18.5	0	N/A	0	1.27	0	0	263.18	-0.126	0.0239	-0.1494	0.0068	0.64
19	0.21	-25.28%	0	1.27	0	29	247.98	-0.1331	0.0263	-0.1462	0.0071	0.64
19.5	0	N/A	0	0.04	0	0	103.56	-0.0157	0.0115	-0.0112	0.0013	0.02
20	0.02	-22.13%	0	0.23	1	1164	95.27	-0.017	0.0134	-0.011	0.0014	0.02
20.5	0.15	-19.68%	0	1.27	0	1	203.83	-0.1589	0.0361	-0.1353	0.008	0.64
21	0.1	-17.93%	0	0.26	0	31	114.49	-0.0728	0.0367	-0.0434	0.0046	0.13
21.5	0.03	-16.26%	0	0.07	0	28	78.33	-0.0332	0.0287	-0.0159	0.0024	0.04
22	0.03	-14.31%	0.05	0.08	43	182	79.29	-0.0561	0.0432	-0.0245	0.0037	0.07
22.5	0.09	-12.14%	0.06	0.31	15	47	75.77	-0.077	0.0578	-0.0299	0.0048	0.09
23	0.15	-9.96%	0.05	0.15	30	61	76.35	-0.1168	0.078	-0.0409	0.0065	0.15
23.5	0.15	-8.01%	0.11	0.2	28	98	65.7	-0.1326	0.099	-0.0384	0.0071	0.15
24	0.24	-5.72%	0.23	0.32	44	499	65.52	-0.1931	0.1269	-0.0489	0.009	0.24
24.5	0.36	-3.31%	0.16	0.59	145	105	64.81	-0.2654	0.1535	-0.0578	0.0108	0.36
25	0.49	-0.86%	0.29	0.53	131	199	61.65	-0.3449	0.1814	-0.0617	0.0121	0.49
25.5	0.71	1.94%	0.6	0.77	61	20	62.31	-0.4413	0.1923	-0.0667	0.013	0.71
26	0.96	4.86%	0.73	0.99	56	107	61.49	-0.5391	0.1961	-0.066	0.0131	0.96
26.5	1.25	7.93%	1.02	1.32	7	3	60	-0.6371	0.19	-0.0606	0.0124	1.25
27	1.33	10.19%	0	1.83	0	48	79.53	-0.6649	0.1392	-0.0783	0.012	1.83
27.5	0	N/A	1.67	2.05	0	0	42.96	-0.8845	0.154	-0.0216	0.0064	1.86
28	2.51	18.67%	2.22	2.48	2	43	49.17	-0.9078	0.1031	-0.0209	0.0054	2.35
28.5	3.7	25.24%	1.38	4.55	0	1	74.42	-0.8488	0.0959	-0.0464	0.0077	2.96
29	2.69	23.26%	2.47	5.2	0	24	123.36	-0.7519	0.0779	-0.1056	0.0104	3.84
29.5	5.15	34.77%	1.99	3.9	0	2	80.32	-0.9007	0.0664	-0.0369	0.0057	3.9
30	4.17	32.91%	2.84	4.4	7	32	87.39	-0.9072	0.058	-0.0383	0.0055	4.4
31	5.45	41.77%	4.4	5.55	5	6	109.92	-0.8959	0.0501	-0.0528	0.0059	5.45
32	6.35	49.16%	5.55	6.45	0	1	123.16	-0.9047	0.0419	-0.0555	0.0056	6.45
33	11.8	74.25%	5.3	8.4	0	0	246.84	-0.7355	0.0402	-0.2198	0.0108	8.4
34	9.55	69.39%	6.9	10.65	0	5	196.28	-0.8375	0.038	-0.1304	0.0081	8.78
35	9.17	71.80%	8.8	11.2	0	0	235.96	-0.8073	0.0352	-0.1752	0.009	10
36	11.8	85.92%	9.45	10.95	0	2	243.34	-0.8219	0.0325	-0.1719	0.0086	10.95
37	12.75	93.50%	10.65	11.65	0	14	215.87	-0.8804	0.0281	-0.1159	0.0066	11.65
38	12.5	96.42%	11.6	12.75	0	1	241.58	-0.8658	0.0272	-0.141	0.0071	12.75
39	8.03	82.92%	12.65	13.6	0	0	229.03	-0.8985	0.0236	-0.1091	0.0058	13.6
40	15.18	114.62%	13.45	14.9	0	4	283.46	-0.8496	0.025	-0.1792	0.0077	14.9
41	15.95	121.51%	14.2	17.65	0	0	297.12	-0.8496	0.0239	-0.1879	0.0077	15.93
42	16.82	128.78%	15.75	16.75	0	1	282.51	-0.8799	0.0215	-0.1526	0.0066	16.75
43	0	N/A	15.55	19.7	0	0	271.16	-0.9044	0.0191	-0.1237	0.0056	17.63
44	20.6	151.26%	17.4	19.35	0	0	218.78	-0.9628	0.0114	-0.0464	0.0027	18.38
45	20.9	156.32%	18.3	19.4	0	1	235	-0.9567	0.0119	-0.0567	0.003	19.4
50	24.15	188.41%	23.25	24.4	1	0	269.51	-0.9607	0.0096	-0.06	0.0028	24.4