Carnival Cruise (CCL) lost 29 cents to $33.18 and a noteworthy trade on the stock very late Monday was a Jan 27 – 32 (2X1) put ratio spread, bought for 67.5 cents, 10000X. The position was opened and tied to shares at $33.15 (delta = 10). The stock is down 9.7 percent since 10/27 and yesterday’s spread trader seems to be bracing for additional weakness through Jan 2012. Earnings are due around Dec 20.
About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.