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ONEOK, Inc. (OKE) Options In Focus As Shares Spike

Spirit AeroSystems Holdings, Inc. (NYSE:SPR) – Shares in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) are moving higher today, up as much as 11% this morning to $26.71, on speculation GKN Plc may make a $5 billion bid to takeover the aerospace supplier. The chatter sparked heavier than usual trading traffic in Spirit AeroSystems Holdings, Inc. (NYSE:SPR)’s options, with volume topping 3,750 contracts during the first half of the trading session versus the stock’s average daily volume of around 650 contracts. Some traders appear to be preparing for shares to extend gains, with more than 900 Aug $25 strike calls purchased for an average premium of $2.14 apiece today. The bullish options make money at expiration next month in the event that Spirit AeroSystems Holdings, Inc. (NYSE:SPR)’s shares rally 5.4% over the current price of $25.76 to exceed the average breakeven point at $27.14.

Caitlin Duffy
Equity Options Analyst

The material presented in this commentary is provided for informational purposes only and is based upon information that is considered to be reliable. However, neither Interactive Brokers LLC nor its affiliates warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither IB nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance is not necessarily indicative of future results.

This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities or other financial instruments mentioned in this material are not suitable for all investors. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only correct as of the stated date of their issue. The information contained herein does not constitute advice on the tax consequences of making any particular investment decision. This material does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation to you of any particular securities, financial instruments or strategies. Before investing, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

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