Bearish flow noted in Norwegian Cruise Lines with 7,993 puts trading, or 3x expected. Most active are 10/4 weekly 18 puts and 10/4 weekly 20.5 calls, with total volume in those strikes near 5,000 contracts. The Put/Call Ratio is 4.30, while ATM IV is up over 1 point on the day. Earnings are expected on October 30th.
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