This past week, there was 3x the Carnival (CCL) normal options volume, the cruise line giant. Cruise line stocks have been very active during the pandemic, but CCL got a big boost last week when it announced that it would be ramping up capacity through the end of the year.

What’s more, the company is replacing its expensive debt with a more reasonable bond offering. 72% of the action in CCL options was in calls, which is generally a bullish signal, although it’s not a surprise given the positive news on the stock.