Bearish flow noted in Norwegian Cruise Lines with 10,048 puts trading, or 2.0x expected. Most active are 5/10 weekly 18 puts and Apr-24 17.5 puts, with total volume in those strikes near 7,100 contracts. The Put/Call Ratio is 2.05, while ATM IV is up over 4 points on the day. Earnings are expected on April 29th.
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