AA – Alcoa, Inc. – Pessimistic options players piled into October contract put options on the aluminum manufacturer today with shares of the underlying stock trading lower by nearly 1.60% to $10.67 just before 2:30 pm (ET). Bearish individuals bracing for continued share price declines in the next several months purchased approximately 15,000 puts at the October $10 strike for an average premium of $0.90 per contract. Put buyers at this strike price stand ready to accrue profits should Alcoa’s shares decline another 14.7% to slip beneath the average breakeven point on the puts at $9.10 ahead of expiration day. Other bears bought 1,100 puts at the lower October $9.0 strike for an average premium of $0.62 each. Lower-strike put purchasers are prepared to make money if shares of the underlying stock fall approximately 21.50% to breach the average breakeven price of $8.38 by expiration day in October.