Sirius XM Radio Inc (NASDAQ:SIRI) shares are trading up

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Dallas, Texas 08/21/2013 (Financialstrend) – It had been recently observed that the November 16th options on the stock of  Sirius XM Radio Inc (NASDAQ:SIRI) are being rolled out for purchase. It is noted that the longer time of 88 days available for the option to expire would prove to present potential opportunities to the option traders to achieve higher premium. The present strike price for the put contract for expiry on November 16th is at $3.50 per share and the premium is presently at 16 cents. This strike price represents a potential downside in the price movements of the stock approximately by around 4% so that the put option buyers could turn out profits.

Further, this option at $3.50 per share would prove attractive to the investors who had already made up their minds to buy the shares of SSirius XM Radio Inc (NASDAQ:SIRI), which would prove to be a profitable alternative to buying the shares current at $3.67 per share. Further, an analysis on the price trends and other fundamental developments of the company had presented that the opportunities for the occurrence of such decline in prices are around 63% in the near future which also adds on to the profitability of the options.

Sirius XM Radio Inc (NASDAQ:SIRI) had moved up on Tuesday in the markets to make gains of around 1.66% in share prices and had thereby closed at $3.67 per share. The stock had been presenting intraday price fluctuations ranging from low of $3.60 to high of $3.71 per share for the day. The company’s stock had on Tuesday reported volume of trading in the markets at 28.90 million shares, while the shares on an average had moved to record trading volumes at 39.93 million shares per day. The stock presently has 52 week low of $2.33 and 52 week high of $3.85 per share.

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