Call spread in Royal Caribbean

Royal Caribbean Cruises is seeing unusual call activity today, for the second session in a row.

Yesterday’s trade¬†involved straight call buying in the November 42 contracts, but today’s strategy is more complicated.

optionMONSTER systems show that a trader bought 3,000 of the November 38 calls for the ask price of $2.07 and, at the same time, sold 3,000 of the October 39 calls for their bid price of $0.90. The volume at both strikes was more than open interest, so this was a new opening spread.

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