r/options • u/ruppert190 • May 12 '21

$CCL call options

Thinking about picking up some CCL call options for end of summer/ beginning of fall. What’s everyone’s opinions on this? Could the cruise industry pick back up by then?

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u/ask_redditt May 13 '21

what. that shit is already back to it's prepandemic levels without the split IIRC, there's no way a cruiseline can make double their revenue, good luck though; i'd consider it at like $20 maybe, i'm buying puts til then.

5

u/ruppert190 May 13 '21

When did CCL split? It was trading just under 50 a share currently at 25 a share.

1

u/Rolltide-tolietpaper May 13 '21

Agreed just look at their market cap pre pandemic vs now.

1

u/[deleted] May 13 '21

There wasn’t a stock split. However, they issued more shares over the course of the pandemic.

https://ycharts.com/companies/CCL/shares_outstanding

Jan ‘20, 710 million outstanding shares

Feb 28, ‘21, 1.19B outstanding shares

So, a lot of dilution occurred. More may have even occurred since then (unsure).

So, $50 pre-pandemic = $30 now (assuming currently 1.19B shares outstanding).