Alcoa (AA), will kick off earnings season this quarter when it reports after the close today. Taking a glance at the AA & $CRB Index charts shows the 50ma's crossing over their 200ma's but trading below them at support. Check out the heavy July $10 call Open Interest as well as Volume on Alcoa link. AA $10 calls: Open Interest = 115,283 & vloume 26.576.
Next the RSI on the $CRB is oversold in the 20 range as well as the Stochastics. I expect a bouncein AA as well as commodities, if you are planning on playing this keep your STOPS tight.
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