Market Whales and Their Recent Bets on SIRI Options

Investors with a lot of money to spend have taken a bullish stance on Sirius XM Holdings SIRI.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with SIRI, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 11 options trades for Sirius XM Holdings.

This isn't normal.

The overall sentiment of these big-money traders is split between 63% bullish and 18%, bearish.

Out of all of the options we uncovered, 10 are puts, for a total amount of $1,182,358, and there was 1 call, for a total amount of $30,300.

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What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $3.0 to $7.0 for Sirius XM Holdings during the past quarter.

Insights into Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

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 activity within a strike price range from $3.0 to $7.0 in the last 30 days.

Sirius XM Holdings Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

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.

After a thorough review of the options trading surrounding Sirius XM Holdings, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Sirius XM Holdings's Current Market Status

• With a volume of 4,076,446, the price of SIRI is up 1.99% at $3.07.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 84 days.

What The Experts Say On Sirius XM Holdings

Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $3.5166666666666666.

• Maintaining their stance, an analyst from Barrington Research continues to hold a Outperform rating for Sirius XM Holdings, targeting a price of $4.
• Maintaining their stance, an analyst from Deutsche Bank continues to hold a Hold rating for Sirius XM Holdings, targeting a price of $3.
• An analyst from Citigroup has revised its rating downward to Sell, adjusting the price target to $2.

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.