Carnival's Options Frenzy: What You Need to Know
Portfolio Pulse from Benzinga Insights
Carnival Corporation (NYSE:CCL) has seen a significant amount of options trading activity, with a bullish sentiment prevailing among investors. Analysis of 16 trades reveals a split, with 62% bullish and 37% bearish expectations. The trading volume and open interest suggest a price target range between $10.0 and $25.0. Notably, options trading volume and open interest have been concentrated within this price band over the last 30 days. Carnival, the world's largest cruise operator, has recovered to its pre-COVID guest levels in 2023. The stock is currently up 1.51% at $14.11, potentially undersold according to RSI readings, with an earnings release anticipated in 68 days. Analysts have set an average target price of $23.0 for Carnival, with ratings ranging from Buy to Overweight.
April 17, 2024 | 4:16 pm
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POSITIVE IMPACT
Carnival Corporation shows a bullish trend in options trading, with a significant volume aiming for a $10-$25 price range. The stock has recently increased by 1.51% to $14.11, with analysts setting an average target price of $23.0.
The bullish sentiment in options trading, combined with the stock's recent performance and positive analyst ratings, suggests a potential short-term upward movement in Carnival's stock price. The concentration of options trading within the $10-$25 range, alongside the stock's current price of $14.11 and the average analyst target price of $23.0, further supports this outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100