Bullish Unusual Options Activity on CCL Sep 9.50 call

27 sept. 2022

CCL 325K in premium traded for $9.5 strike calls for Friday September 30th 2022 expiration traded today.

Unusual Activity for $9.5 calls about 28,000 contracts traded throughout the day @ approx $0.25 per contract (Above Open interest of only 3200)

Carnival Corp earnings date is 09/29/2022 Thursday

Stock is at an interesting price level. If stock price moves up and IV increases could help add premium value to the call options.

Risks : Short Expiration - Theta Risk. Earnings Risks.

I would recommend a vertical spread to keep theta at bay especially after earnings when IV will drop reducing the price of the options if you expect to hold this past earning.

Entry Above: 9.01
Target 9.36, 9.65, 9.96
SL close below 8.74

You can use the above levels to trade the stock as well with risk reward ratio of approx 3.65 (defined risk)

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Important Note: This is a short duration contract with earnings risk. Please trade responsibly.
Please let me know in the comment if you find this useful.