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: Jan 21, 2028
Days to expiration: 468
Share price: $15.57
Put/call ratio (OI): 0.34
Put/call ratio (volume): 1.77
ATM implied volatility: 53.7%
Expected move: ±$9.47
Open interest (C / P): 44.82K / 15.38K

NCLH options summary

The NCLH options chain for the January 21, 2028 expiration lists 16 call and 16 put contracts, with 468 days until expiration. Open interest stands at 44,819 calls and 15,381 puts, a put/call ratio of 0.34, which is tilted bullish, with calls outnumbering puts. At-the-money implied volatility near the $15.00 strike is 53.7%, which implies the market expects a move of about ±$9.47 (60.8%) in Norwegian Cruise Line stock by expiration.

The most open interest sits at the $27.00 call (8.82K contracts) and the $13.00 put (3.31K contracts).

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

NCLH options chain · January 21, 2028

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
44	1	110.5%	12.65	12.50	13.30	3.00	0.00	0.09	0.03	72.7%	2	62
96	1	84.7%	11.00	10.75	11.30	5.00	0.10	0.20	0.19	63.7%	1	289
228	1	70.2%	8.54	8.30	8.75	8.00	0.28	0.68	0.49	54.5%	32	346
1,210	5	66.9%	7.15	7.05	7.25	10.00	0.90	1.08	0.93	53.3%	972	1,426
380	2	60.6%	4.95	5.10	5.40	13.00	1.85	2.02	1.98	49.4%	5	3,307
2,555	3	58.7%	4.22	4.15	4.40	15.00	2.74	3.05	2.88	48.8%	2	3,237
NCLH $15.57
3,839	4	55.8%	3.06	2.81	3.30	18.00	4.15	5.10	4.60	50.3%	1	2,907
5,168	200	54.8%	2.45	2.21	2.70	20.00	5.50	6.00	6.50	42.0%	5	2,519
646	1	52.5%	1.72	1.46	1.92	23.00	7.75	9.00	9.20	50.7%	5	689
8,528	20	53.9%	1.39	1.31	1.64	25.00	9.10	9.95	10.95	36.9%	1	450
8,819	1	51.7%	1.06	1.03	1.16	27.00	11.50	11.95	12.75	40.6%	7	118
6,916	1	52.4%	0.85	0.72	0.98	30.00	14.35	14.80	15.80	41.6%	3	4
3,437	335	51.3%	0.55	0.57	0.74	32.00	13.30	14.15	12.60	—	1	26
1,376	4	53.2%	0.42	0.40	0.73	35.00	17.10	20.85	20.14	70.2%	6	0
273	10	50.0%	0.49	0.28	0.45	37.00	16.90	17.65	20.65	—	1	1
1,304	1	53.9%	0.28	0.25	0.53	40.00	22.00	27.00	25.05	94.9%	2	0

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 January 21, 2028 expiration, the NCLH put/call ratio based on open interest is 0.34 (15,381 puts vs 44,819 calls), and 1.77 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 January 21, 2028 is about 53.7%, 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.