In yesterday’s trading, Sirius Satellite Radio (NASDAQ: SIRI) saw heavy option volume in both its puts and calls. On the call side, there were 104,810 contracts traded, which is 5.9 times greater than the average daily call volume. 34,416 contracts traded on the put side, which is 8.6 times the average daily put volume. After the dust settled last night, the Schaeffer’s put/call open interest ratio (SOIR) jumped from 0.28 to 0.34 and the percentile ranking rose to 92 percent from 90 percent. SIRI has risen 42 percent over the past three trading sessions, but the SOIR has risen from 0.25 to 0.34. This suggests that there are many that doubt the stock’s ability to maintain its current level.

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This entry was posted on Tuesday, November 30th, 2004 at 10:51 pm and is filed under General. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.