NCLH (NCLH) options memo

The Read

NCLH is up 0.81% today at $18.70.

Options traders lean neutral into 2026-08-14, and neutral further out.

A move through the gamma flip level would change how dealers hedge this stock.

Key numbers

• Spot: $18.70
• Lean: neutral
• Nearest expiry: Fri 8/14
• Implied move: 3.2%
• ATM implied volatility: 62.0%
• Max pain: $19.50
• Pin strike: $17.00
• Dealer positioning: LONG GAMMA
• Call wall: $20.00
• Put wall: $17.00
• Put/call open interest: 2.103