Carnival Options Trading: A Deep Dive into Market Sentiment

Investors with a lot of money to spend have taken a bullish stance on Carnival CCL.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CCL, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 14 uncommon options trades for Carnival.

This isn't normal.

The overall sentiment of these big-money traders is split between 71% bullish and 28%, bearish.

Out of all of the special options we uncovered, 8 are puts, for a total amount of $533,026, and 6 are calls, for a total amount of $249,866.

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What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $7.0 to $17.5 for Carnival over the last 3 months.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Carnival stands at 13637.75, with a total volume reaching 10,066.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Carnival, situated within the strike price corridor from $7.0 to $17.5, throughout the last 30 days.

Carnival Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

About Carnival

Carnival is the largest global cruise company, with 90 ships in service at the end of fiscal 2022. 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 about 13 million guests in 2019, prior to COVID-19, a level it should reach again in 2023.

In light of the recent options history for Carnival, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Carnival's Current Market Status

• With a volume of 27,666,239, the price of CCL is up 5.71% at $13.51.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 36 days.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Carnival options trades with real-time alerts from Benzinga Pro.