You make some good points on a weekly vs. daily thread. A weekly thread makes sense to me. Thanks for what you do here.
You make some good points on a weekly vs. daily thread. A weekly thread makes sense to me. Thanks for what you do here.
Looks like we've just started to make a move on nice volume. Start of the pre-conference call spike before the post-conference beat down?
Thanks for the summary. I sort of new those numbers, but it's really nice to have them staring at me!
We're up 2 pennies already today. This morning may have been the buying time. I'm jumping in at the next dip and then jump back out after a 4 cent rise.
I've been doing this for over 18 months. Sooner or later, I'll earn back the money that I invested when SIRI was in the 4 dollar range.
Sounds good to me regarding weekly thread,we can always start a new thread on big news days like CC and Earnings or Debt refi's...
As far as a stock price prediction short term,i have no clue,but a slow run up is preferrable to us longs,True...
Pretty sure most smart money has gone long now,with minor pull backs of 3or 4 cents going forward,except when we get close to .60 and definitely $1,there will be massive sell offs for profits,IMHO...
ok,here comes the beginning of a run up,on level 2 bids are up and buyers want in,,think you missed your last buying opurtunity in low .40's for a while.
Can anyone see a contrarian angle to this??
Neal Barkett says:
July 30, 2009 at 10:30 pm
Thought this would be very interesting to all concerned. This is from “TRADING FLOOR BLOG”.
Traders Snap Up December-Dated Calls on Sirius XM Radio Inc.
7/30/2009 3:31 PM
permanent link
Keywords: SIRI
Sirius XM Radio Inc. (SIRI) was targeted by a wave of call volume on Wednesday. During the course of the session, the International Securities Exchange (ISE) reports that traders bought to open 1,462 calls on SIRI, compared to just 1 put.
Most of the day’s action was concentrated around the December 1 call, where 2,993 contracts crossed the tape on open interest of 32,192 contracts. Trades occurred between the bid and ask prices throughout the day — although, with the bid wavering between zero and $0.05, it’s tough to glean very much information from this fact alone.
Instead, it’s probably more relevant to observe that implied volatility on the December 1 call jumped 69.3% yesterday, pointing to growing demand for this back-month bet. Additionally, open interest at this strike rose overnight by 1,635 contracts, suggesting that traders were most likely adding new long calls here on Wednesday.
This rush of upbeat speculation comes just one week ahead of SIRI’s second-quarter earnings report, which is due to hit the Street next Thursday, Aug. 6. Analysts are expecting a loss of 1 penny per share, a notable improvement from the satellite radio issue’s year-ago loss of 6 cents per share.
On the charts, SIRI is faring reasonably well, considering it’s been docked south of the $1 marker since September 2008. The shares are trending higher along their 10-week and 20-week moving averages, which have provided support since mid-March.
-posted by Elizabeth Harrow
7/30/2009 3:31 PM