Bearish flow noted in Spirit Airlines with 1,642 puts trading, or 1.7x expected. Most active are Mar-23 15 puts and Apr-23 15 puts, with total volume in those strikes near 1,200 contracts. The Put/Call Ratio is 3.16, while ATM IV is up nearly 9 points on the day. Earnings are expected on May 3rd.
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Published first on TheFly
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