Bearish flow noted in Norwegian Cruise Lines with 7,311 puts trading, or 1.0x expected. Most active are Jan-25 2.5 puts and Jan-24 16 puts, with total volume in those strikes near 5,600 contracts. The Put/Call Ratio is 2.17, while ATM IV is up over 1 point on the day. Earnings are expected on October 31st.
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