Royal Caribbean (RCL), Carnival (CCL) Sees Autumn Call Spread Buying - Susquehanna

Susquehanna options strategist, Alison Edwards, highlights autumn call spread buying in cruise names Royal Caribbean (NYSE: RCL) and Carnival Corp. (NYSE: CCL).

On RCL, Edwards noted: "An opening investor in Royal Caribbean Cruise bought 6,500 Sep 80/100 call spreads for $3.00. This investor opens capped upside exposure through mid-September, breaking even in the event of an 11% rally in the underlying.

On CCL, the analyst noted: "An opening investor in Carnival Corp. bought 12k Oct 25/35 call spreads for $1.08. This investor opens capped upside exposure through mid-October, breaking even on the options in the event of a 17% rally in the underlying."

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