Investors with a lot of money to spend have taken a bullish stance on Sirius XM Holdings SIRI.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with SIRI, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for Sirius XM Holdings.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $38,352, and 7, calls, for a total amount of $235,117.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $2.5 to $5.5 for Sirius XM Holdings during the past quarter.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Sirius XM Holdings options trades today is 18556.2 with a total volume of 48,431.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Sirius XM Holdings's big money trades within a strike price range of $2.5 to $5.5 over the last 30 days.
Sirius XM Holdings Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SIRI | CALL | SWEEP | BULLISH | 07/19/24 | $0.3 | $0.28 | $0.3 | $3.00 | $46.8K | 57.1K | 8.7K |
| SIRI | PUT | TRADE | BEARISH | 01/16/26 | $2.82 | $0.57 | $2.82 | $5.50 | $38.3K | 4.3K | 0 |
| SIRI | CALL | SWEEP | BULLISH | 07/19/24 | $0.31 | $0.26 | $0.31 | $3.00 | $35.2K | 57.1K | 15.3K |
| SIRI | CALL | SWEEP | BULLISH | 07/19/24 | $0.31 | $0.26 | $0.31 | $3.00 | $34.7K | 57.1K | 17.0K |
| SIRI | CALL | SWEEP | BEARISH | 07/19/24 | $0.3 | $0.29 | $0.29 | $3.00 | $31.9K | 57.1K | 5.5K |
About Sirius XM Holdings
Sirius XM Holdings is composed of two businesses: SiriusXM and Pandora. SiriusXM transmits music, talk shows, sports, and news via its two satellite radio networks, primarily to consumers in vehicles who pay a subscription fee. The firm's radios come preinstalled on a wide range of light vehicles in the US and Canada. The firm acquired Pandora Media in February 2019 via an all-stock transaction. Pandora is a streaming music platform that offers an ad-supported radio option and a paid on-demand service; it has a robust and growing podcast library. Liberty Media owns 84% of Sirius XM, traded through its Liberty Sirius XM Group tracking stock.
Following our analysis of the options activities associated with Sirius XM Holdings, we pivot to a closer look at the company's own performance.
Current Position of Sirius XM Holdings
- Trading volume stands at 46,355,598, with SIRI's price up by 1.72%, positioned at $2.95.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 39 days.
What Analysts Are Saying About Sirius XM Holdings
1 market experts have recently issued ratings for this stock, with a consensus target price of $4.75.
- An analyst from Barrington Research persists with their Outperform rating on Sirius XM Holdings, maintaining a target price of $4.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Sirius XM Holdings, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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