Alcoa Corporation (AA)
NYSE: AA
· Real-Time Price · USD
31.18
-0.15 (-0.48%)
At close: Aug 15, 2025, 11:52 AM
AA Delta Exposure By Expiry
The total Delta Exposure (DEX) for AA across all expirations shows 158,149.03 net shares that market makers must hedge, with 1,348,162.65 from calls and 1,190,013.62 from puts. The put-call delta ratio of 0.88 suggests neutral market maker positioning. The largest delta concentration at Oct 17, 25 with 149,666.71 net DEX represents significant hedging pressure that may cap upside moves. The nearest expiration on Aug 22, 25 carries negative delta forcing market makers to buy shares, potentially providing support.
AA DEX Table
| Expiry Date | Call Delta | Put Delta | Net Delta | P/C Delta |
|---|---|---|---|---|
| Aug 22, 25 | 36,702.61 | -40,338.72 | -3,636.11 | 1.10 |
| Aug 29, 25 | 24,286.13 | -13,206.22 | 11,079.91 | 0.54 |
| Sep 5, 25 | 23,419.99 | -8,969.04 | 14,450.95 | 0.38 |
| Sep 12, 25 | 6,676.36 | -3,308.44 | 3,367.92 | 0.50 |
| Sep 19, 25 | 196,046.89 | -344,673.23 | -148,626.34 | 1.76 |
| Sep 26, 25 | 1,903.43 | -3,659.27 | -1,755.84 | 1.92 |
| Oct 17, 25 | 244,554.88 | -94,888.17 | 149,666.71 | 0.39 |
| Nov 21, 25 | 606.82 | -1,129.68 | -522.86 | 1.86 |
| Jan 16, 26 | 343,111.99 | -351,522.24 | -8,410.25 | 1.02 |
| Mar 20, 26 | 196,751.19 | -108,539.48 | 88,211.71 | 0.55 |
| Apr 17, 26 | 0 | 0 | 0 | n/a |
| Jun 18, 26 | 83,136.57 | -109,547.07 | -26,410.5 | 1.32 |
| Sep 18, 26 | 13,789.72 | -15,406.55 | -1,616.83 | 1.12 |
| Dec 18, 26 | 28,025.24 | -19,865.33 | 8,159.91 | 0.71 |
| Jan 15, 27 | 149,150.83 | -74,960.18 | 74,190.65 | 0.50 |