Bearish flow noted in Norwegian Cruise Lines with 9,600 puts trading, or 1.4x expected. Most active are Oct-23 15 puts and 10/13 weekly 16 puts, with total volume in those strikes near 5,700 contracts. The Put/Call Ratio is 3.11, while ATM IV is up over 1 point on the day. Earnings are expected on October 31st.
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