"spi"?

I mean, I'm really confused. I always heard spinnakers called 'spins' or 'chutes' or even, 'laundry'. (On second thought, 'laundry' refers to the whole sailplan, doesn't it.)

I do so want to be hip with this. You know, sounding REALLY salty and all that.

Is it pronounced 'spee' or 'speh' or 'spy'? Please elaborate...

thanks
tami