Sirius XM Holdings Options Trading: A Deep Dive into Market Sentiment

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 26 options trades for Sirius XM Holdings.

This isn't normal.

The overall sentiment of these big-money traders is split between 69% bullish and 30%, bearish.

Out of all of the options we uncovered, 25 are puts, for a total amount of $2,814,023, and there was 1 call, for a total amount of $38,504.

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Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $3.5 to $5.0 for Sirius XM Holdings over the recent three months.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Sirius XM Holdings's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Sirius XM Holdings's substantial trades, within a strike price spectrum from $3.5 to $5.0 over the preceding 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.

In light of the recent options history for Sirius XM Holdings, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Sirius XM Holdings's Current Market Status

• Currently trading with a volume of 16,109,752, the SIRI's price is down by -2.91%, now at $3.17.
• RSI readings suggest the stock is currently may be approaching oversold.
• Anticipated earnings release is in 68 days.

Professional Analyst Ratings for Sirius XM Holdings

Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $2.9.

• An analyst from Deutsche Bank has decided to maintain their Hold rating on Sirius XM Holdings, which currently sits at a price target of $3.
• An analyst from Citigroup has revised its rating downward to Sell, adjusting the price target to $2.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Sirius XM Holdings, Benzinga Pro gives you real-time options trades alerts.