Investors with significant funds have taken a bullish position in Sirius XM Holdings SIRI, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in SIRI usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 8 options transactions for Sirius XM Holdings. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 50% being bullish and 37% bearish. Of all the options we discovered, 7 are puts, valued at $535,559, and there was a single call, worth $46,550.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $1.5 to $5.0 for Sirius XM Holdings over the recent three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Sirius XM Holdings stands at 71475.75, with a total volume reaching 13,972.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Sirius XM Holdings, situated within the strike price corridor from $1.5 to $5.0, throughout the last 30 days.
Sirius XM Holdings 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SIRI | PUT | TRADE | BEARISH | 09/06/24 | $2.18 | $2.16 | $2.18 | $5.00 | $218.0K | 49.8K | 2.6K |
| SIRI | PUT | SWEEP | BEARISH | 09/06/24 | $0.65 | $0.65 | $0.65 | $3.50 | $101.5K | 57.9K | 2.7K |
| SIRI | PUT | TRADE | BULLISH | 09/20/24 | $2.24 | $2.2 | $2.21 | $5.00 | $53.7K | 177.9K | 360 |
| SIRI | PUT | SWEEP | BULLISH | 09/20/24 | $2.25 | $2.24 | $2.24 | $5.00 | $53.0K | 177.9K | 3.1K |
| SIRI | CALL | TRADE | BEARISH | 01/17/25 | $1.83 | $1.03 | $1.33 | $1.50 | $46.5K | 89 | 360 |
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.
In light of the recent options history for Sirius XM Holdings, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Sirius XM Holdings Standing Right Now?
- With a volume of 7,534,010, the price of SIRI is up 1.37% at $2.97.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 54 days.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Sirius XM Holdings with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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