Spirit Airlines put volume heavy and directionally bearish
Bearish flow noted in Spirit Airlines with 3,790 puts trading, or 5x expected. Most active are Jan-18 32.5 puts and Jan-18 37.5 puts, with total volume in those strikes near 3,700 contracts. The Put/Call Ratio is 13.35, while ATM IV is up nearly 3 points on the day. Earnings are expected on October 26th.