Bearish flow noted in Norwegian Cruise Line (NCLH)s with 10,010 puts trading, or 1.3x expected. Most active are 3/13 weekly 20.5 puts and 3/6 weekly 21 calls, with total volume in those strikes near 5,500 contracts. The Put/Call Ratio is 2.22, while ATM IV is up nearly 3 points on the day. Earnings are expected on April 30th.
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