Sirius Satellite (SIRI) adds a penny to $2.42 and 20,000 Jan14 2 calls are bought on the stock for 63 cents and tied to 1.5 million shares for $2.41. It’s possibly a closing trade, as OI is sufficient to cover and the contract is 42 cents in-the-money after the stock’s 12 percent rally this week.
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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.