Alcoa Corporation (AA)
Alcoa Max Pain By Strike
AA trades at $31.33, 4.4% above the near-term max pain of $30 expiring Aug 15, 2025 (0 days). Price stability likely with balanced options positioning at this level. Max pain is falling across expirations ($15-$35), signaling increased put positioning or downside protection. Key magnetic zone at 30 where 10 expirations converge.
Alcoa Max Pain By Expiry
Max pain for AA shows a downward trend from 35 to 15, indicating bearish sentiment or hedging activity. The 66% spread signals divergent expectations across timeframes. Levels distributed around 31.33. Strong magnetic level at 30 (10 expirations). Weekly expirations influence price 2-3 days before expiry; monthlies throughout their final week.
Max Pain Table
| Expiration Date | Max Pain | Max Pain vs Current Price |
|---|---|---|
| Aug 15, 2025 | 30 | -1.33 (-4.25%) |
| Aug 22, 2025 | 31.5 | 0.17 (0.54%) |
| Aug 29, 2025 | 30 | -1.33 (-4.25%) |
| Sep 5, 2025 | 30 | -1.33 (-4.25%) |
| Sep 12, 2025 | 30 | -1.33 (-4.25%) |
| Sep 19, 2025 | 35 | 3.67 (11.71%) |
| Sep 26, 2025 | 32 | 0.67 (2.14%) |
| Oct 17, 2025 | 30 | -1.33 (-4.25%) |
| Nov 21, 2025 | 35 | 3.67 (11.71%) |
| Jan 16, 2026 | 30 | -1.33 (-4.25%) |
| Mar 20, 2026 | 30 | -1.33 (-4.25%) |
| Apr 17, 2026 | 15 | -16.33 (-52.12%) |
| Jun 18, 2026 | 35 | 3.67 (11.71%) |
| Sep 18, 2026 | 30 | -1.33 (-4.25%) |
| Dec 18, 2026 | 30 | -1.33 (-4.25%) |
| Jan 15, 2027 | 30 | -1.33 (-4.25%) |