Bearish flow noted in Southwest (LUV) with 22,281 puts trading, or 7x expected. Most active are 10/31 weekly 31 puts and Nov-25 30 puts, with total volume in those strikes near 18,500 contracts. The Put/Call Ratio is 13.18, while ATM IV is up over 1 point on the day. Earnings are expected on October 22nd.
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