The 54-year-old Alker shot a six-under 65 third round in the Charles Schwab Cup Championship at Phoenix Country Club on Saturday to get to 17 under and hold a one-shot lead.
He's looking to continue an amazing run of success against the many big names on the 50-and over tour, seeking an 11th victory in 98 starts.
Alker also won the Cologuard Classic in March and the Simmons Bank Championship on October 24-26, meaning her is going for back-to-back victories.
The New Zealander, who won the season-long Schwab Cup title in 2022 and 2024, entered the week atop the season-long points standings and a win would clinch the title. Only Bernhard Langer, with six, has won the Charles Schwab Cup three or more times.
Stewart Cink, who trailed Alker by one shot after two rounds, is at 16 under after his 65 and also is challenging for the Schwab Cup title.
"Yeah, to take the lead it's great, but it's going to be a shootout tomorrow," Alker said. "It's amazing it's come down -- the whole season, all the tournaments we play, all the rounds we play, it's come down to one round. It's pretty amazing."
Cink was third in the standings entering the week, and was asked after the third round if he viewed the final day like match play with Alker.
"Well, I actually wish it would because I love match play," Cink said. "I think this would be an exciting scenario to have a match, but you can't do that. If me and Alker both go out there and lay an egg out there, then someone else is going to come from behind, we know that.
"But it will be -- I mean, we have a scenario, no secret, that the winner tomorrow, if it's one of us, wins the Charles Schwab Cup.
"That's my goal and I'm sure that's his goal, too. He's a little bit more experienced in this situation than I am, but I've also gained a lot of experience in my career. I know how to handle this stuff and I know that there's a chance I could win it tomorrow. There's a chance I could not win, but I'm ready for either one."
Miguel Angel Jimenez, who entered the week No. 2 in the Charles Schwab Cup standings, was tied for 13th in the tournament at 9 under after his one-under 70 on Saturday.
Richard Green was faring best of the six Australians in the 36-player field, tied for fifth in the tournament at 11 under after a 65. He is currently projected to finish 12th in the points standings.
Currently projected for 10th in the standings, Cameron Percy shot a 64 to climb to tied 13th at nine under.
Steve Allan (67, 8 under) is projected to be 11th in the standings, Mark Hensby (67, 6 under) is projected for 25th, with Greg Chalmers (72, 4 under) projected for 30th and Michael Wright (67, 2 under) projected 31st.
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