Alcoa Stock's Rally Could Still Have Legs

Aluminum stock Alcoa Corp (NYSE:AA) is surging to three-year highs today, last seen up 7.3% at $60.67. Up roughly 40% in the last month, the equity has recently caught the attention of investors. This rally could still have legs, too, as its recent peak comes amid historically low implied volatility (IV). According to data from Schaeffer’s Senior Quantitative Analyst Rocky White, there have been five instances in the past five years when AA traded within 2% of its 52-week high, while its Schaeffer’s Volatil ...