Royal Caribbean seen staying course
Chris McKhann | [email protected]
More than 5,400 RCL options trade in total, about 3 times its daily average, and almost all of the trading was in one strike. optionMONSTER systems show that 4,000 March 34 puts were sold in one print for $2. Open interest was just 178 contracts at the beginning of the day, so this clearly is a new position.
The put selling is based on the thesis that RCL will hold above $34 in coming months. That price has been support for the last couple of weeks, but shares were down at $33 in mid-November and below $24 in July. (See our Education section)
Shares of RCL are up 0.66 percent to $35.06 this afternoon. The cruise-line operator posted a 52-week closing high of $35.25 last week.