What the Options Market Tells Us About Sirius XM Holdings
Portfolio Pulse from Benzinga Insights
Investors have taken a bearish position in Sirius XM Holdings (NASDAQ:SIRI), with 81% of recent options trades being puts. This suggests potential foreknowledge of upcoming events. The stock is currently trading at $3.98, up 4.87%, but RSI indicators show it may be overbought. Analysts have mixed ratings with a consensus target price of $3.825.
July 24, 2024 | 2:16 pm
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Investors have taken a predominantly bearish position in Sirius XM Holdings, with 81% of recent options trades being puts. This suggests potential foreknowledge of upcoming negative events. The stock is currently trading at $3.98, up 4.87%, but RSI indicators show it may be overbought. Analysts have mixed ratings with a consensus target price of $3.825.
The high percentage of bearish options trades (81% puts) suggests that significant investors expect the stock to decline. The stock's recent price increase and overbought RSI indicators further support the likelihood of a short-term price drop. Mixed analyst ratings add to the uncertainty.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100