Benzinga | Nov 22, 2021 12:09PM EST

Looking At Carnival's Recent Whale Trades

Someone with a lot of money to spend has taken a bullish stance on Carnival (NYSE:CCL).

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, 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 this whale just did?

Today, Benzinga's options scanner spotted 21 uncommon options trades for Carnival.

This isn't normal.

The overall sentiment of these big-money traders is split between 61.9% bullish and 38.1%, bearish.

Out of all of the special options we uncovered, 7 are puts, for a total amount of $447,243.00, and 14 are calls, for a total amount of $555,211.00.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $17.5 to $27.5 for Carnival over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

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 activity within a strike price range from $17.5 to $27.5 in the last 30 days.

Carnival Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/ Trade Sentiment Exp. Strike Total Trade Open Volume CALL Type Date Price Price InterestCCL PUT SWEEP BULLISH 01/20/ $17.50 $127.2K 29.6K 1.9K 23CCL PUT SWEEP BULLISH 01/20/ $17.50 $81.5K 29.6K 1.2K 23CCL PUT SWEEP BULLISH 01/20/ $17.50 $70.8K 29.6K 820 23CCL CALL SWEEP BEARISH 12/17/ $22.50 $55.4K 9.2K 2.7K 21CCL PUT SWEEP BEARISH 01/20/ $17.50 $52.8K 29.6K 2.9K 23

Where Is Carnival Standing Right Now?

* With a volume of 13,827,925.00, the price of CCL is down -0.2% at $20.45.

* RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.

* Next earnings are expected to be released in 49 days.

What The Experts Say On Carnival:

* Citigroup downgraded its action to Neutral with a price target of $24.5

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.