Deep-pocketed investors have adopted a bearish approach towards Carnival CCL, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in CCL usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 13 extraordinary options activities for Carnival. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 38% leaning bullish and 53% bearish. Among these notable options, 5 are puts, totaling $198,537, and 8 are calls, amounting to $284,855.
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 $20.0 to $37.0 for Carnival during the past quarter.
Insights into Volume & Open Interest
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 $20.0 to $37.0 over the preceding 30 days.
Carnival 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CCL | CALL | SWEEP | BEARISH | 01/03/25 | $0.83 | $0.8 | $0.8 | $27.00 | $56.0K | 980 | 755 |
| CCL | PUT | TRADE | BEARISH | 01/17/25 | $1.04 | $1.03 | $1.04 | $25.00 | $53.1K | 4.3K | 1.2K |
| CCL | PUT | SWEEP | BEARISH | 12/20/24 | $1.0 | $0.96 | $1.0 | $26.00 | $50.0K | 4.1K | 645 |
| CCL | PUT | TRADE | BEARISH | 01/17/25 | $1.05 | $1.04 | $1.05 | $25.00 | $41.3K | 4.3K | 1.6K |
| CCL | CALL | TRADE | BULLISH | 01/16/26 | $1.81 | $1.7 | $1.81 | $37.00 | $39.4K | 3.3K | 228 |
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.
Present Market Standing of Carnival
- Currently trading with a volume of 12,844,711, the CCL's price is up by 1.36%, now at $26.07.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 2 days.
Professional Analyst Ratings for Carnival
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $30.2.
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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. * An analyst from Goldman Sachs persists with their Buy rating on Carnival, maintaining a target price of $32. * An analyst from Truist Securities persists with their Hold rating on Carnival, maintaining a target price of $29. * An analyst from Stifel persists with their Buy rating on Carnival, maintaining a target price of $32. * 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 Mizuho keeps a Outperform rating on Carnival with a target price of $32.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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