Investors with significant funds have taken a bearish position in Sirius XM Holdings (NASDAQ:SIRI), a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in SIRI usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 11 options transactions for Sirius XM Holdings. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 9% being bullish and 81% bearish. Of all the options we discovered, 10 are puts, valued at $603,423, and there was a single call, worth $30,000.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $1.0 to $8.0 for Sirius XM Holdings over the last 3 months.
Analyzing Volume & Open Interest
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 $1.0 to $8.0 in the last 30 days.
Sirius XM Holdings Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SIRI | PUT | SWEEP | BEARISH | 07/26/24 | $4.25 | $4.2 | $4.2 | $8.00 | $186.9K | 200 | 445 |
| SIRI | PUT | SWEEP | BEARISH | 07/26/24 | $1.79 | $1.74 | $1.74 | $5.50 | $84.2K | 0 | 484 |
| SIRI | PUT | TRADE | BEARISH | 07/26/24 | $4.3 | $3.95 | $4.2 | $8.00 | $69.3K | 200 | 610 |
| SIRI | PUT | SWEEP | BEARISH | 07/26/24 | $4.25 | $3.3 | $4.2 | $8.00 | $42.4K | 200 | 1.2K |
| SIRI | PUT | SWEEP | BEARISH | 07/26/24 | $4.2 | $4.15 | $4.2 | $8.00 | $42.0K | 200 | 1.6K |
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 8,074,655, with SIRI's price up by 4.87%, positioned at $3.98.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 8 days.
Expert Opinions on Sirius XM Holdings
2 market experts have recently issued ratings for this stock, with a consensus target price of $3.825.
- An analyst from Guggenheim has decided to maintain their Neutral rating on Sirius XM Holdings, which currently sits at a price target of $2.
- An analyst from Barrington Research has decided to maintain their Outperform rating on Sirius XM Holdings, which currently sits at a price target of $4.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Sirius XM Holdings options trades with real-time alerts from Benzinga Pro.