Seeing an increase in volume in Sirius Satellite (SIRI, news, chart) and XM Satellite Radio (XMSR) in recent trade after another FCC member voted against the XM Satellite Radio (XMSR)-SIRI merger, according to the Wall Street Journal, citing a source. Votes now stand at 2-1 with a majority needed (3) for final approval. 2 FCC members still to vote. SIRI is holding steady, down 8 cents to $2.34 and players seem to be actively selling August and September calls on the news. XMSR sold off and trading is volatile, with activity picking up in the XMSR August 7 and 8 puts.
About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.