A Closer Look at Carnival's Options Market Dynamics

Investors with a lot of money to spend have taken a bearish 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 26 uncommon options trades for Carnival.

This isn't normal.

The overall sentiment of these big-money traders is split between 42% bullish and 50%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $213,892, and 22 are calls, for a total amount of $2,404,320.

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 $14.0 to $35.0 for Carnival during the past quarter.

Volume & Open Interest Development

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Carnival's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Carnival's substantial trades, within a strike price spectrum from $14.0 to $35.0 over the preceding 30 days.

Carnival 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

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.

Following our analysis of the options activities associated with Carnival, we pivot to a closer look at the company's own performance.

Current Position of Carnival

• With a volume of 14,884,752, the price of CCL is up 2.68% at $26.11.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 17 days.

Professional Analyst Ratings for 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 $27.666666666666668.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Consistent in their evaluation, an analyst from B of A Securities keeps a Buy rating on Carnival with a target price of $28. * Reflecting concerns, an analyst from Bernstein lowers its rating to Market Perform with a new price target of $26. * Consistent in their evaluation, an analyst from Truist Securities keeps a Hold rating on Carnival with a target price of $29.

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.