Huge Options Trade in SIRIUS XM Mutes M&A Hope (SIRI)
April 10, 2012 by Jon C. OggToday’s unusual options trading was out in the January-2014 $2.50 Calls. We have seen some 25,000 options contracts trade, which is 2.5 million shares worth of exposure on a fully leveraged basis. This appears to be a new position as well because the open interest was 15,093 contracts before today.
The 25,000 options contracts were on the bid rather than the ask, meaning it was a sale of some sort rather than someone buying speculative calls. Whether or not this was a hedge or just a high premium capture is hard to know, but most likely it is at least one big bet that a high-premium buyout is not coming here. This may just mute some of the old and recent buyout rumors which we generally considered more as “hope” than reality.
JON C. OGG
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.