Financial giants have made a conspicuous bearish move on Carnival. Our analysis of options history for Carnival CCL revealed 15 unusual trades.
Delving into the details, we found 33% of traders were bullish, while 66% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $320,209, and 12 were calls, valued at $507,095.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $17.0 to $22.0 for Carnival over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Carnival options trades today is 15778.4 with a total volume of 12,506.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Carnival's big money trades within a strike price range of $17.0 to $22.0 over the last 30 days.
Carnival 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CCL | PUT | SWEEP | BEARISH | 01/17/25 | $2.73 | $2.71 | $2.73 | $20.00 | $180.9K | 14.6K | 822 |
| CCL | PUT | SWEEP | BEARISH | 01/17/25 | $2.74 | $2.72 | $2.74 | $20.00 | $87.4K | 14.6K | 1.1K |
| CCL | CALL | SWEEP | BULLISH | 01/17/25 | $1.21 | $1.2 | $1.21 | $22.00 | $69.2K | 22.2K | 630 |
| CCL | CALL | SWEEP | BULLISH | 01/17/25 | $1.76 | $1.7 | $1.76 | $20.00 | $57.5K | 31.0K | 1 |
| CCL | PUT | SWEEP | BEARISH | 01/17/25 | $2.74 | $2.73 | $2.74 | $20.00 | $51.8K | 14.6K | 1.3K |
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. It's currently folding its P&O Australia brand into Carnival. The firm 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 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.
Where Is Carnival Standing Right Now?
- With a trading volume of 11,745,574, the price of CCL is up by 1.11%, reaching $18.64.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 67 days from now.
What Analysts Are Saying About Carnival
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $22.4.
- An analyst from Deutsche Bank has decided to maintain their Hold rating on Carnival, which currently sits at a price target of $19.
- An analyst from Citigroup has decided to maintain their Buy rating on Carnival, which currently sits at a price target of $22.
- An analyst from B of A Securities has decided to maintain their Buy rating on Carnival, which currently sits at a price target of $24.
- Consistent in their evaluation, an analyst from Susquehanna keeps a Positive rating on Carnival with a target price of $22.
- Maintaining their stance, an analyst from Argus Research continues to hold a Buy rating for Carnival, targeting a price of $25.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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