Investors with a lot of money to spend have taken a bearish stance on Sirius XM Holdings SIRI.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, 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 33 options trades for Sirius XM Holdings.
This isn't normal.
The overall sentiment of these big-money traders is split between 24% bullish and 63%, bearish.
Out of all of the options we uncovered, 32 are puts, for a total amount of $1,541,713, and there was 1 call, for a total amount of $25,718.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $3.0 to $5.0 for Sirius XM Holdings during the past quarter.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Sirius XM Holdings options trades today is 76009.0 with a total volume of 80,869.00.
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 $3.0 to $5.0 over the last 30 days.
Sirius XM Holdings Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SIRI | PUT | SWEEP | BEARISH | 08/16/24 | $1.06 | $1.05 | $1.06 | $4.00 | $114.3K | 42.9K | 7.2K |
| SIRI | PUT | SWEEP | BEARISH | 08/16/24 | $2.1 | $2.01 | $2.05 | $5.00 | $102.7K | 147.3K | 887 |
| SIRI | PUT | TRADE | NEUTRAL | 08/16/24 | $2.06 | $2.04 | $2.05 | $5.00 | $102.5K | 147.3K | 3.7K |
| SIRI | PUT | TRADE | NEUTRAL | 08/16/24 | $2.06 | $2.04 | $2.05 | $5.00 | $102.5K | 147.3K | 3.2K |
| SIRI | PUT | TRADE | BULLISH | 08/16/24 | $2.06 | $2.05 | $2.05 | $5.00 | $88.1K | 147.3K | 2.7K |
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.
Present Market Standing of Sirius XM Holdings
- With a volume of 5,659,421, the price of SIRI is up 0.67% at $3.0.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 77 days.
What Analysts Are Saying About Sirius XM Holdings
3 market experts have recently issued ratings for this stock, with a consensus target price of $3.5166666666666666.
- Reflecting concerns, an analyst from Citigroup lowers its rating to Sell with a new price target of $2.
- Maintaining their stance, an analyst from Deutsche Bank continues to hold a Hold rating for Sirius XM Holdings, targeting a price of $3.
- Consistent in their evaluation, an analyst from Barrington Research keeps a Outperform rating on Sirius XM Holdings with 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.
Comments
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
