SHORT NCLH/ NCLH 6/14/24 18 PUTS
Norwegian Cruise lines is getting a lift for the fourth day in a row and broadly outperforming travel names today. At first blush you’d think that the top overbought stock on a Burn notice basis is tech but its the Cruise stocks that have had the most atypical rally this week. NCLH is up 16% since May 31, and the stock rose all the way from 16 to over 18 a share! I expect a retest of 18 on the downside which should see the stock revert back down to the moving averages.
2 Stars Trade last hour 3:00-4:00