Someone with a lot of money to spend has taken a bullish stance Carnival CCL.
And retailers should know.
We noticed this today when the large position appeared in the publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don’t know. But when something this big happens with CCL, it often means that someone knows something is going to happen.
So how do we know what this whale did?
Today, Benzinga’s options scanner spotted 14 unusual options trades for Carnival.
This is not normal.
The overall sentiment among these big money traders is split between 57% bullish and 42% bearish.
Of all the special options we uncovered, 6 are puts, for a total of $410,395, and 8 are calls, for a total of $972,964.
What is the price target?
Considering the volume and open interest in these contracts, it appears that whales have been targeting a price range of $5.0 to $12.5 for carnivals over the past 3 months.
Volume and development of open interest
Looking at volume and open interest is a powerful move when trading options. This data can help you track liquidity and interest in Carnival options for a given strike price. Below, we can observe the evolution of volume and open interest of calls and puts, respectively, for all trades of Carnival Whale within a strike price range of $5.0 to $12.5 in the last 30 days.
Carnival option volume and open interest over the past 30 days
Largest options found:
symbol PUT/CALL Type of trade Feeling Exp. date Fixed price Total trade price Open interest Volume
CCL call commerce BULLY 20.01.23 $10.00 705.0 thousand dollars 46.5 thousand 8.6 thousand
CCL SETTLING ERASE BULLY 20.01.23 $12.50 162.0 thousand dollars 38.1 thousand 500
CCL SETTLING ERASE wave 18.11.22 $9.00 114.2 thousand dollars 9.6 thousand 2.4K
CCL call commerce BULLY 17.01.25 $5.00 59.5 thousand dollars 583 265
CCL call commerce BULLY 17.01.25 $5.00 46.8 thousand dollars 583 80
Where is the carnival standing now?
- With a volume of 43,313,992, the price of CCL rose 1.62% to $9.09.
- RSI indicators hint that the underlying stock may be approaching overbought.
- The next earnings are expected to be released in 49 days.
What carnival experts say:
- Credit Suisse has decided to maintain their Outperform rating on Carnival, which currently has a price target of $22.
- Barclays has decided to maintain their Overweight rating on Carnival, which currently has a price target of $10.
- Tigress Financial has decided to maintain their buy rating on Carnival, which currently has a price target of $13.
- Wells Fargo has decided to maintain their underweight rating on Carnival, which currently has a price target of $7.
- UBS has decided to maintain its Buy rating on Carnival, which currently has a price target of $8.
Options are a riskier asset compared to stock trading, 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 up-to-date on the latest options trades for Carnival, Benzinga Pro gives you real-time options trade alerts.
