Options Activity Confusing...
Prior to the Sirius XM Merger, I followed the options activity of SIRI quite a bit. The options classes were much more narrow than I am seeing now.
We now have call options ranging into $50 strike range, with open interest of 534 contracts! I haven't seen this in a very long time. But it is obvious that some people are making some very little bets on very high targets. In fact, today there was even volume on the 09-Jan $30 strike, calls. Are you kidding me?
Are some of these somehow related to XMSR options changing over? Still I would think that those strike values would change relative to the currency of the merger deal (4.6 siri, to an XMSR share).
I know options. But I do not know who would buy a $30 call option on Sirius, expiring 9-Jan.
Any insight into this options activity...anyone?