Spirit AeroSystems put volume heavy and directionally bearish

Bearish flow noted in Spirit AeroSystems with 1,013 puts trading, or 1.1x expected. Most active are Jun-24 35 puts and Jan-26 40 calls, with total volume in those strikes near 1,000 contracts. The Put/Call Ratio is 1.57, while ATM IV is up over 1 point on the day. Earnings are expected on May 7th.

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