Bearish flow noted in Norwegian Cruise Line (NCLH)s with 5,169 puts trading, or 3x expected. Most active are 1/24 weekly 25 puts and Feb-25 28 calls, with total volume in those strikes near 4,900 contracts. The Put/Call Ratio is 1.51, while ATM IV is up over 1 point on the day. Earnings are expected on February 25th.
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