That hedge has given up at these levels. Remember everyone, its only a hedge. They cant have hoped to keep it this low, better to regroup and attack major resistance points only now. When momentum presents itself down, they will attempt to pile on at that point. We are going to be soon aware that the 2014 hedge is the only major short left, and the only ones who now want to keep SiriusXM low. Institutions are in, and will support an advance(not confirmed, just a theory of course.)