Investors with significant funds have taken a bearish position in Carnival CCL, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in CCL usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 8 options transactions for Carnival. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 12% being bullish and 50% bearish. Of all the options we discovered, 7 are puts, valued at $588,536, and there was a single call, worth $32,000.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $10.0 and $22.0 for Carnival, spanning the last three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Carnival stands at 6539.0, with a total volume reaching 3,121.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Carnival, situated within the strike price corridor from $10.0 to $22.0, throughout the last 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 | PUT | TRADE | NEUTRAL | 01/17/25 | $4.55 | $4.45 | $4.5 | $20.00 | $202.5K | 16.8K | 895 |
| CCL | PUT | SWEEP | NEUTRAL | 10/18/24 | $4.3 | $4.2 | $4.25 | $20.00 | $93.5K | 3.4K | 225 |
| CCL | PUT | SWEEP | NEUTRAL | 10/18/24 | $6.1 | $5.95 | $6.1 | $22.00 | $73.2K | 1 | 0 |
| CCL | PUT | SWEEP | BEARISH | 10/18/24 | $6.1 | $6.0 | $6.1 | $22.00 | $72.6K | 1 | 243 |
| CCL | PUT | TRADE | BEARISH | 12/18/26 | $3.15 | $2.91 | $3.15 | $15.00 | $62.6K | 5.1K | 435 |
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 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
Where Is Carnival Standing Right Now?
- Trading volume stands at 19,709,601, with CCL's price down by -0.22%, positioned at $16.05.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 34 days.
What The Experts Say On Carnival
In the last month, 2 experts released ratings on this stock with an average target price of $22.0.
- An analyst from Wells Fargo has decided to maintain their Overweight rating on Carnival, which currently sits at a price target of $23.
- Consistent in their evaluation, an analyst from UBS keeps a Buy rating on Carnival with a target price of $21.
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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