Carnival Unusual Options Activity For January 24

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 positions 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.

Today, Benzinga's options scanner spotted 11 options trades for Carnival.

This isn't normal.

The overall sentiment of these big-money traders is split between 63% bullish and 36%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $46,920, and 10, calls, for a total amount of $425,504.

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 $12.0 to $18.0 for Carnival during the past quarter.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $12.0 to $18.0 in the last 30 days.

Carnival 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

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.

Having examined the options trading patterns of Carnival, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Current Position of Carnival

• Currently trading with a volume of 24,201,176, the CCL's price is up by 1.17%, now at $16.44.
• RSI readings suggest the stock is currently may be approaching oversold.
• Anticipated earnings release is in 61 days.

What Analysts Are Saying About Carnival

A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $20.666666666666668.

• An analyst from Wells Fargo has elevated its stance to Overweight, setting a new price target at $22.
• Maintaining their stance, an analyst from Truist Securities continues to hold a Hold rating for Carnival, targeting a price of $18.
• An analyst from Macquarie persists with their Outperform rating on Carnival, maintaining a target price of $22.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Carnival with Benzinga Pro for real-time alerts.