Bearish flow noted in Norwegian Cruise Lines with 11,273 puts trading, or 1.7x expected. Most active are Jun-24 12 puts and Mar-24 15 puts, with total volume in those strikes near 6,800 contracts. The Put/Call Ratio is 1.82, while ATM IV is up nearly 2 points on the day. Earnings are expected on February 27th.
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