Deep-pocketed investors have adopted a bearish approach towards Carnival CCL, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CCL usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 14 extraordinary options activities for Carnival. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 42% leaning bullish and 57% bearish. Among these notable options, 5 are puts, totaling $368,593, and 9 are calls, amounting to $1,312,306.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $15.0 to $24.0 for Carnival during the past quarter.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Carnival's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Carnival's substantial trades, within a strike price spectrum from $15.0 to $24.0 over the preceding 30 days.
Carnival 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CCL | CALL | SWEEP | BEARISH | 06/21/24 | $15.00 | $706.2K | 24.3K | 3.0K |
| CCL | CALL | SWEEP | BULLISH | 01/16/26 | $15.00 | $148.3K | 1.9K | 320 |
| CCL | PUT | SWEEP | BULLISH | 04/19/24 | $16.00 | $144.2K | 12.4K | 1.4K |
| CCL | CALL | TRADE | BEARISH | 10/18/24 | $22.00 | $135.0K | 2.1K | 1.5K |
| CCL | PUT | SWEEP | BEARISH | 01/16/26 | $17.00 | $95.0K | 4.7K | 336 |
About Carnival
Carnival is the largest global cruise company, with 92 ships in service at the end of fiscal 2023. Its portfolio of brands includes Carnival Cruise Lines, Holland America, Princess Cruises, and Seabourn in North America; P&O Cruises and Cunard Line in the United Kingdom; Aida in Germany; Costa Cruises in Southern Europe; and P&O Cruises in Australia. Carnival also owns Holland America Princess Alaska Tours in Alaska and the Canadian Yukon. Carnival's brands attracted nearly 13 million guests in 2019, prior to COVID-19, a level it has reached again in 2023.
After a thorough review of the options trading surrounding Carnival, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Carnival
- Currently trading with a volume of 9,691,321, the CCL's price is down by -0.24%, now at $16.33.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 14 days.
Expert Opinions on Carnival
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $26.0.
- An analyst from Stifel persists with their Buy rating on Carnival, maintaining a target price of $26.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Carnival, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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