Significant trading volume in AA August 44.5 calls with over 12,000 contracts trading at prices for the most part between $.50-.75. At the time of this writing the stock is at $43.70 up $1.70 on the day (+>4%). The current market on the calls is >$.70-.80. This activity creates by far the largest block of open interest in the near term AA option chain. I would characterize this as pretty aggressive activity given the short 9 day window until expiration. It is likely a play on easing of tariff restrictions, principally with Canada, as AA imports significant aluminum inputs from that country that it then further processes into finished products (mostly cans) in the U.S.