Introduction: Exploring the EEG alpha oscillations generates considerable interest because there is well known its role in cognitive and psycho emotional aspects of human life. However, till now there isn't well determined definition what is alpha activity phenomena and which indices are characterize it. Method: This article focuses on the attempt to determine EEG alpha-activity phenomena, its physical, molecular and morphological nature, to highlight its indices and their role in optimal functioning. Results: Specifically, this article examines individual alpha activity indices: 1) the individual alpha peak frequency; 2) activation magnitude measured by estimation the amount of alpha amplitude suppression in response to eyes open and individual alpha band width; 3) three alpha "autorhythmicity" indices: intra-spindle amplitude variability, spindle length and steepness. Conclusions: Throughout, the article provides a number of suggestions which alpha activity indices and in which conditions could be applied in psycho physiological investigations, what is their role in optimal functioning and what are possible directions for future research.