SIRI Intraday Friday and weekend 07-31-09
Payday! literally, but if you have a job, not because your('re) invested in sirius xm.
Good morning all....suggestion time:
I suggest we go back to a weely SIRI thread instead of the daily, it seems a lot of good discussion is being snapped because of the start of the new day. For instance last week there was a good technology discussion going that broke at the end and wasn't continued to the next day.
Also, since the BK scare and debt dealings their(ere) hasn't been a whole lot of news.
The weekly thread was first started because the comments section under the articles was generating alot of discussion off topic to the article but good for general sxm investing. Then with the BK scare there was so much posting in the weekly thread that we had to go to a daily because the pages were huge.
Also, alot of discussion happens after i go to bed and quite frankly I don't put the effort to copy and paste from yesterday to today to make a comment on that, and its hurting my post count, lol, jk. but seriously, the night discussions are good and aren't being continued by the day timers.
Please consider going back to a weekly thread? Maybe starting monday we can post a weekly thread and Charles you can help us by deleting/merging/whatever if someone starts a tuesday thread. If im way off let me know.
FYI this was posted yesterday by Neil at Tylers article
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
