With the selloff continuing, the market presented quite a few opportunities today but for the sake of this daily post I will only discuss one of them.
#CCL ( #CarnivalCruise ).
Since I started my daily posting I already documented 2x CCL trades and both of them produced fantastic results (865%, 790%). Considering that the stock dropped 6.3% I felt that it was a great time to jump into it again with a naked put. The IVR (Implied Volatility Rank) is relatively high at 54.4 but we do have to keep in mind the upcoming earnings. Hopefully we can close the deal prior to it.
The stats
Trade Type: Short Put
Strike: $17.5
Expiry: 20 May
Delta: 31.4
IV Rank: 54.2
Premium: $0.87
Cap Req: $237
Annualised Prof at Expiry: 305%
Let me know your thoughts.
What a winner!
Closed at $0.60 for an annualised profit of 594%.
I like the fact that the cap req is only $237. I have to look into it tonight.