Mel Karmazin Buys 2,000,000 Shares
Mel works fast, and is a man of his word. He announced on Fox that he intended to buy stock in Sirius XM Radio with his own funds, and now he has done just that.
According to SEC filings, Mel Karmazin bought 2,000,000 shares of Sirius XM Radio at an average price of $1.37 per share.
Upon the news, Sirius XM Radio shares have gone up 5% in after hours trading.
[ SEC Filing ]
Look at the two big buys right after Mel bought his 2 million shares:
16:14 $ 1.3552 100
16:12 $ 1.38 15,260
16:11 $ 1.39 719
16:10 $ 1.39 9,000,000
16:10 $ 1.39 8,662,498
16:08 $ 1.3732 2,000,000
Excellent job, Mel. Let’s hope a few other company executives follow suit, before the SIRI bashers claim its an isolated stunt.
Big deal….I lost half of everything i own….I talked to a guy who lost a million dollars because of the naked short jihadists destroying this market….Mel should launch a lawsuit on behalf of his stockholders against jim cramer and cnbc…That piece of shit needs to pay for what he did last friday….
Patrick rodgers 412 200-8567 and join the class action lawsuit against jim jihadist cramer and cnbc…..Also if your an ameritrade account holder write that pos joe moglia ceo of ameritrade
I’ve lost about 125 – 150k – I lost track at this point.
The sad part is that I still believe, so I’ll either get my $ back one day or lose the remainder.
and meanwhile . . . Mel has his straw men buying puts like mad . . . ooh-fah, what a disaster. Poor old Mel may be a decent enough guy but he is way in over his head . . . take a ride along Navesink River Road and see why the Hedge Fund Managers will erase the common stock. Mel Karmazin . . . the “Peter Principle” exemplified.
At this point does it really help pointing fingers? The damage was done. The manipulators crushed this stock. YES…something SHOULD be done about ALL naked short selling(not just for the banks)….but come on….is crying about what happened going to change anything?
We all lost.
The thing is we’re feeling the pain again. We felt it a couple of years ago when the stock got cut in half from $9 to $4….and then we were in limbo with the merger for nearly 2 years and now it REALLY hurts because there was no “POP” back up like we were all expecting.
Yeah, I FREAKED out too.
But I see it this way. We now have 2 VERY clear choices. Take a HUGE loss by selling or hold on and stop complaining.
I’m going with option 2. If you don’t have patience or are at the end of your rope with anger….go for option one and move on. I may win. I may lose. But I’m in it till the end now…and I realize it’s a gamble that may take ALOT LONGER THAN I EVER IMAGINED 3 years ago…but I’m resolved to my fate now.
I am still excited by Mel finally having the freedom to work his magic…but I’ve also learned from these past 3 years…to NEVER expect ANYTHING. Whatever is going to happen is going to happen.
Good luck to all.
Quitters don’t win and winners don’t quit.
SIRI XM is a small money tree. It will take time to grow. But grow it will.
The longer you HOLD the heavier that pile of money will get.
Hi Tyler & Brandon, I tried to reply with this info, but not sure it went through. Here is a copy of option prices that go all the way to A STRIKE PRICE OF $50 for Jan 09 Calls. This is a recent change from the long time strike of $7.50. Any ideas on why this would have happened???
Calls Puts
Symbol
LastTrade Last Net
Change Bid/Size Ask/Size Volume Open
Interest Strike Price Symbol
LastTrade Last Net
Change Bid/Size Ask/Size Volume Open
Interest
.QXOAZ
5 Hrs ago 0.12 -0.03 0.10/387 0.15/3,791 6,887 158,534 2.50 .QXOMZ
5 Hrs ago 1.25 +0.10 1.25/23 1.30/1,067 11,242 160,686
.QSHAZ
8/1/08 4.20 0.00 3.80/61 4.10/139 0 579 2.50 .QSHMZ
7/30/08 0.10 0.00 0.10/116 0.20/101 0 1,135
.QXOAA
5 Hrs ago 0.05 0.00 0.00/0 0.05/2,639 138 285,587 5.00 .QXOMA
9 Hrs ago 3.70 +0.24 3.60/352 3.70/975 40 18,161
.QSHAA
10 Hrs ago 2.10 -0.30 2.05/101 2.35/151 77 830 5.00 .QSHMA
11 Hrs ago 0.90 +0.15 0.80/101 0.95/101 88 33,763
.QXOAU
7/29/08 0.05 0.00 0.00/0 0.05/32 0 52,120 7.50 .QXOMU
7/25/08 5.30 0.00 6.00/315 6.20/272 0 1,105
.QSHAU
10 Hrs ago 1.00 -0.55 1.05/146 1.30/101 9 889 7.50 .QSHMU
6 Hrs ago 2.40 +0.35 2.25/101 2.50/151 78 4,639
.QSHAB
5 Hrs ago 0.70 -0.15 0.55/110 0.70/115 19 3,148 10.00 .QSHMB
10 Hrs ago 4.56 +0.46 4.20/101 4.40/122 5 13,962
.QSHAM
5 Hrs ago 0.55 -0.05 0.45/250 0.55/215 3 2,786 11.00 .QSHMM
8/1/08 4.80 0.00 5.00/121 5.30/117 0 16,874
.QSHAN
Never Traded 0.00 0.00 0.00/0 0.00/0 0 0 12.00 .QSHMN
Never Traded 0.00 0.00 0.00/0 0.00/0 0 0
.QSHAV
7 Hrs ago 0.25 -0.10 0.30/10 0.40/151 12 13,979 12.50 .QSHMV
7 Hrs ago 6.80 +0.70 6.30/101 6.70/151 25 3,670
.QSHAC
6 Hrs ago 0.15 -0.25 0.15/10 0.25/160 15 12,720 15.00 .QSHMC
7/23/08 5.60 0.00 8.60/101 9.00/148 0 3,750
.QSHAW
7/31/08 0.10 0.00 0.00/0 0.20/227 0 9,135 17.50 .QSHMW
4/1/08 6.04 0.00 11.00/52 11.40/130 0 1,395
.QSHAD
7 Hrs ago 0.05 -0.10 0.00/0 0.15/31 10 16,684 20.00 .QSHMD
7/30/08 13.01 0.00 13.50/126 13.80/21 0 61
.QSHAE
7/22/08 0.15 0.00 0.00/0 0.10/101 0 11,651 25.00 .QSHME
12/26/07 12.40 0.00 18.40/101 18.80/112 0 12
.QSHAF
7/24/08 0.05 0.00 0.00/0 0.05/111 0 40,331 30.00 .QSHMF
8/10/07 15.30 0.00 23.40/101 23.80/101 0 0
.QSHAG
4/23/08 0.15 0.00 0.00/0 0.10/101 0 653 35.00 .QSHMG
8/10/07 23.20 0.00 28.40/101 28.80/101 0 0
.QSHAH
1/29/08 0.15 0.00 0.00/0 0.10/128 0 406 40.00 .QSHMH
Never Traded 0.00 0.00 33.40/101 33.80/101 0 0
.QSHAY
3/24/08 0.10 0.00 0.00/0 0.10/128 0 554 45.00 .QSHMY
7/30/08 37.70 0.00 38.40/101 38.80/101 0 0
.QSHAT
7/24/08 0.05 0.00 0.00/0 0.10/148 0 534 50.00 .QSHMT
7/30/08 42.80 0.00 43.40/101 43.80/101 0 0
Sorry about that, the chart made perfect sense as originally formatted, but lost it’s formatting in the e-mail. It basically shows that the strike price on the SIRI jan09 calls goes up to $50 as a potential strike price. In fact, according to the chart there have been 40,331 calls sold at a Jan09 strike of $30. I know the e-mail is confusing, but why would ANYONE buy the Jan09 $30calls??? This just seem really strange to me.
those strikes are the old xm options in those denominations. You can see them on the CBOE website.
Lynn,
I’m pretty sure those are XM calls from before the merger and they haven’t been coverted into SIRI calls yet. So the $30 Jan call is really a $6.50 call (30/4.6).
That makes sense, thanks for the info.