Unpacking the Latest Options Trading Trends in Sirius XM Holdings
High-rolling investors have positioned themselves bullish on Sirius XM Holdings SIRI, and it’s important for retail traders to take note.
This activity came to our attention today through Benzinga’s tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in SIRI often signals that someone has privileged information.
Today, Benzinga’s options scanner spotted 14 options trades for Sirius XM Holdings. This is not a typical pattern.
The sentiment among these major traders is split, with 57% bullish and 21% bearish. Among all the options we identified, there was one put, amounting to $30,000, and 13 calls, totaling $552,046.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $23.0 to $35.0 for Sirius XM Holdings during the past quarter.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Sirius XM Holdings’s options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Sirius XM Holdings’s whale trades within a strike price range from $23.0 to $35.0 in the last 30 days.
Sirius XM Holdings Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SIRI | CALL | SWEEP | NEUTRAL | 11/08/24 | $2.53 | $2.23 | $2.62 | $26.00 | $52.2K | 18 | 1.6K |
| SIRI | CALL | SWEEP | BULLISH | 11/08/24 | $2.6 | $2.15 | $2.61 | $26.00 | $52.2K | 18 | 1.0K |
| SIRI | CALL | SWEEP | BULLISH | 11/08/24 | $2.56 | $2.19 | $2.49 | $26.00 | $51.1K | 18 | 1.2K |
| SIRI | CALL | SWEEP | BULLISH | 11/08/24 | $2.55 | $2.2 | $2.55 | $26.00 | $51.0K | 18 | 1.4K |
| SIRI | CALL | TRADE | BULLISH | 11/08/24 | $2.52 | $2.03 | $2.52 | $26.00 | $50.4K | 18 | 600 |
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.
Current Position of Sirius XM Holdings
- Trading volume stands at 7,164,456, with SIRI’s price up by 0.59%, positioned at $27.24.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 15 days.
Expert Opinions on Sirius XM Holdings
5 market experts have recently issued ratings for this stock, with a consensus target price of $28.6.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge’s Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.
* Reflecting concerns, an analyst from Morgan Stanley lowers its rating to Underweight with a new price target of $23.
* An analyst from Benchmark has revised its rating downward to Buy, adjusting the price target to $43.
* Consistent in their evaluation, an analyst from Citigroup keeps a Sell rating on Sirius XM Holdings with a target price of $21.
* Consistent in their evaluation, an analyst from Goldman Sachs keeps a Neutral rating on Sirius XM Holdings with a target price of $26.
* An analyst from Guggenheim upgraded its action to Buy with a price target of $30.
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.
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