On surface level, Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) appears to be a complete mess. Despite delivering what on paper would seem to be solid financial results, the cruise ship operator struggled to stave off travel-sector-related anxieties. As such, NCLH stock suffered a sharp drop of more than 15% during Tuesday's afternoon session. Still, the quantitative picture presents a hidden informational arbitrage that data-driven options traders can potentially exploit.
Looking at the headline print, nothing would really suggest that NCLH stock deserves such a steep correction. Yes, third-quarter revenue of $2.9 billion missed analysts' consensus target of $3.02 billion. However, this tally represented a 5% year-over-year lift and was a record performance. Further, adjusted earnings per share of $1.20 beat the consensus target of $1.16, along with company guidance of $1.14.
