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.
Equity Options Analyst
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