Norwegian Cruise Line (NCLH) Options Chain

NYSE: NCLHConsumer DiscretionaryMarine TransportationUSD

15.57+0.08 (+0.52%)

At close: Oct 9, 4:00 PM ET · Delayed 15 min

Expiration date

Expiration: Nov 20, 2026
Days to expiration: 40
Share price: $15.57
Put/call ratio (OI): 0.74
Put/call ratio (volume): 1.19
ATM implied volatility: 53.8%
Expected move: ±$2.77
Open interest (C / P): 17.41K / 12.82K

NCLH options summary

The NCLH options chain for the November 20, 2026 expiration lists 13 call and 14 put contracts, with 40 days until expiration. Open interest stands at 17,407 calls and 12,816 puts, a put/call ratio of 0.74, which is fairly balanced between calls and puts. At-the-money implied volatility near the $16.00 strike is 53.8%, which implies the market expects a move of about ±$2.77 (17.8%) in Norwegian Cruise Line stock by expiration.

The most open interest sits at the $15.00 call (5.74K contracts) and the $17.00 put (3.31K contracts).

Summary generated from market data by MetaCap's automated system. Methodology

NCLH options chain · November 20, 2026

NCLH calls and puts by strike price. Shaded cells are in the money.
Calls							Puts
OI	Vol	IV	Last	Bid	Ask	Strike	Bid	Ask	Last	IV	Vol	OI
—	—	—	—	—	—	7.00	0.00	0.25	0.06	152.7%	1	1
—	—	—	—	—	—	8.00	0.00	0.25	0.07	130.1%	1	1
—	—	—	—	—	—	9.00	0.00	0.06	0.02	84.4%	1	3
14	10	83.6%	5.35	4.80	6.50	10.00	0.00	0.07	0.06	71.5%	1	23
30	—	89.7%	3.05	4.25	4.80	11.00	0.05	0.07	0.05	64.5%	5	177
55	10	54.3%	3.85	3.45	3.85	12.00	0.10	0.14	0.10	60.0%	128	1,372
16	2	76.8%	2.81	2.65	3.50	13.00	0.23	0.28	0.24	58.0%	12	1,410
253	15	56.0%	2.00	1.95	2.15	14.00	0.41	0.47	0.46	53.5%	268	2,695
5,741	64	57.4%	1.38	1.38	1.55	15.00	0.76	0.84	0.89	52.6%	124	2,642
NCLH $15.57
5,079	147	55.6%	0.95	0.94	0.97	16.00	1.28	1.34	1.34	52.0%	129	955
4,423	221	54.2%	0.56	0.54	0.63	17.00	1.79	2.00	2.00	53.4%	37	3,314
1,172	118	54.5%	0.33	0.34	0.38	18.00	2.60	3.05	2.83	56.6%	30	212
356	18	54.0%	0.21	0.18	0.23	19.00	2.91	3.80	4.12	66.1%	—	1
166	20	56.3%	0.13	0.11	0.16	20.00	4.40	4.85	5.70	62.1%	10	10
66	2	58.2%	0.09	0.03	0.15	21.00	—	—	—	—	—	—
36	1	59.0%	0.06	0.01	0.10	22.00	—	—	—	—	—	—

In-the-money callsIn-the-money puts. IV = implied volatility, OI = open interest (contracts). Each contract covers 100 shares. Quotes delayed at least 15 minutes.

Frequently asked questions

What is the NCLH put/call ratio?

For the November 20, 2026 expiration, the NCLH put/call ratio based on open interest is 0.74 (12,816 puts vs 17,407 calls), and 1.19 based on today's volume. A ratio above 1 means more puts than calls.

What is NCLH's implied volatility?

At-the-money implied volatility for NCLH options expiring November 20, 2026 is about 53.8%, an annualized estimate of how much the market expects Norwegian Cruise Line stock to move.

How many NCLH option expiration dates are there?

NCLH has 14 listed expiration dates, from Oct 16, 2026 to Jan 19, 2029.

What does "in the money" mean?

A call is in the money when the strike price is below the current share price; a put is in the money when the strike is above it. In-the-money contracts have intrinsic value and are shaded in the table.