Options Market Turns Heavily Bearish on Royal Caribbean as Put Activity Spikes
Put option volume on Royal Caribbean Cruises (RCL) jumped sharply, with more than 33,000 contracts trading and puts outnumbering calls by nearly 4-to-1. Concentrated activity in December $270 and $280 puts, plus changes in implied volatility and skew, suggest traders are paying up for downside protection or initiating fresh bearish exposure as the …