Bearish flow noted in Alcoa (AA) with 6,289 puts trading, or 1.5x expected. Most active are 8/29 weekly 33 puts and 8/29 weekly 31.5 puts, with total volume in those strikes near 3,600 contracts. The Put/Call Ratio is 1.82, while ATM IV is up nearly 2 points on the day. Earnings are expected on October 22nd.
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