Alcoa (AA) calls more active than puts into Q2 results and international demand outlook

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Alcoa (NYSE: AA) July weekly and standard 9 calls are active on total call volume of 59K contracts (30K puts). Overall option implied volatility of 42 is above its 26-week average of 38 according to Track Data, suggesting larger price movement into the release of Q2 results today after the market close.

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