A whale with a lot of money to spend has taken a noticeably bearish stance on Carnival.
Looking at options history for Carnival (NYSE:CCL) we detected 16 strange trades.
If we consider the specifics of each trade, it is accurate to state that 31% of the investors opened trades with bullish expectations and 68% with bearish.
From the overall spotted trades, 10 are puts, for a total amount of $781,640 and 6, calls, for a total amount of $287,825.
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 $2.5 to $10.0 for Carnival over the last 3 months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Carnival's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Carnival's whale activity within a strike price range from $2.5 to $10.0 in the last 30 days.
Carnival Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| CCL | PUT | SWEEP | BEARISH | 11/18/22 | $6.00 | $210.0K | 21.9K | 5.1K |
| CCL | PUT | SWEEP | BEARISH | 11/18/22 | $6.00 | $195.5K | 21.9K | 15.2K |
| CCL | CALL | SWEEP | BEARISH | 01/17/25 | $2.50 | $88.5K | 743 | 231 |
| CCL | PUT | SWEEP | BEARISH | 01/17/25 | $2.50 | $80.7K | 57.7K | 2.5K |
| CCL | PUT | SWEEP | BEARISH | 01/17/25 | $2.50 | $74.8K | 57.7K | 3.9K |
Where Is Carnival Standing Right Now?
- With a volume of 87,625,260, the price of CCL is up 10.39% at $7.33.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 68 days.
What The Experts Say On Carnival:
- Truist Securities has decided to maintain their Sell rating on Carnival, which currently sits at a price target of $10.
- UBS has decided to maintain their Buy rating on Carnival, which currently sits at a price target of $8.
- Morgan Stanley has decided to maintain their Underweight rating on Carnival, which currently sits at a price target of $6.
- Deutsche Bank has decided to maintain their Hold rating on Carnival, which currently sits at a price target of $10.
- Wells Fargo has decided to maintain their Underweight rating on Carnival, which currently sits at a price target of $7.
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.
