Markets

Bulls want to cruise on Royal Caribbean

The bulls want to take a trip with Royal Caribbean.

optionMONSTER's Heat Seeker tracking system detected the purchase of about 8,000 March 34 calls, first for $0.60 and then for $0.76. Volume was more than 40 times open interest in the strike.

RCL is up 1.29 percent to $31.47 today and 25 percent in the last month. It ended 2011 on a strong note with better-than-expected earnings and revenue, but management warned earlier this month that bookings were uncertain after rival Carnival Cruise's sinking in the Mediterranean on Jan. 13.

RCL is now trying to break through its 200-day moving average. Based on today's call buying, at least one big investor is looking for the stock to keep rising in the next month.

More than 15,000 contracts have traded so far today, almost triple the name's average amount. Puts account for less than 4,000 of the total, according to the Heat Seeker.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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