Sirius XM (SIRI) sees serious call buying. Shares are down a penny to $1.80 and 23,000 call options traded on the stock, which is 3X the typical volume and compares to put volume of 820 contracts. Jan 2 calls, which are now 11.1 percent OTM and expiring in a three-and-a-half weeks, are the most actives. 11,000 traded. Mar 2, Jan 1, Jan14 $1, and Jan13 $4 calls on SIRI are seeing interest as well. Meanwhile, implied volatility is moving up to about 50, but with no recent company news to explain the high volume on the satellite radio operator today. Shares have been trading in a narrow range lately and are at the same levels today as two months ago.
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.