Puts Sold on Sirius XM Radio (SIRI)

Shares of Sirius XM Radio Inc. SIRI are lower on the session by 0.93%, currently trading at $1.07. The stock has been gyrating around the $1.00 level for the past two months, which is also the 50-day moving average. Options traders are selling puts on the name once again. Today, the August $1.00 put was sold, on the bid, 5,000 times for $0.05. Open interest on the strike is 5,653 contracts. Put volume is now running at 2.20x the daily average. Sirius XM Radio Inc. has two principal wholly owned subsidiaries, XM Satellite Radio Holdings Inc. and Satellite CD Radio Inc. The Company is engaged in broadcasting its music, sports, news, talk, entertainment, traffic and weather channels in the United States for a subscription fee through its satellite radio systems, the SIRIUS system and the XM system.