Carnival Corp (CCL) generated strong revenue and free cash flow (FCF) for Q3 ending Aug. 31, and CCL stock looks cheap, even after its recent spike. One way to play CCL is to sell short out-of-the-money puts.
CCL closed at $25.76 on Oct. 2, up from a recent low of $21.84 on Sept. 18. After its recent Sept. 29 earnings release, CCL is up 16% from Sept. 22, when it closed at $22.14.
