Sirius XM (SIRI) Volatile Following Block Trade; Sees Unusual Option Volume

April 16, 2012 12:44 PM EDT
Sirius XM Radio Inc. (Nasdaq: SIRI) shares are trading near days' lows Monday as a 4.5 million volume spike pushed the stock below $2.17 per share.

Overall, Sirius is seeing heavy option trading as well, with today's contract volume about 2.1 times the 10-day average to 87,000. Implied volatility is about 50 percent higher than the historical average as well.

Nasdaq noted unusual volume at the January 3 strike, with a block of 40,000 contracts passing through.


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