Bearish flow noted in Spirit Airlines with 3,088 puts trading, or 2x expected. Most active are Apr-23 15 puts and 3/3 weekly 18 puts, with total volume in those strikes near 2,800 contracts. The Put/Call Ratio is 2.51, while ATM IV is up over 1 point on the day. Earnings are expected on May 3rd.
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Published first on TheFly
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