Options/SIRI

SIRISirius XM Holdings, Inc

Options Analysis Report•RADIO BROADCASTING STATIONS

Market Cap $9.7B|NASDAQ

● 2026-09-11$28.88

BULLISH

Analysis: 2026-09-10 EOD data

1Y +21.3%YTD +40.8%7D -0.4%

Options Vol

3,698

30D

Implied Move

±9.3%

IV Rank

SIRI Options Overview

bullish flow. No clear edge detected.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Balanced conditions with no clear edge

Learn

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SIRI Gamma Walls

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Value

Is IV priced right?

7.0

ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks5/9 checks passed

IV Rank

≤35%

IV Rank 52.1% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 1.07x — IV premium over HV

Sector Relative≤50%

Sector percentile 33% — below sector median

Term Structure

<1.1x

Front/Back 1.06x — backwardation

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 36.1% — normal range

Spread-Adjusted Value

<80%

Effective IV 66.4% (ATM 36.1% + spread 15.1% + bias) — fair

Execution Efficiency

<3.0%

Total drag 24.81% (spread 15.13% + slippage 9.68%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 0.39 (vega 0.586 / spread 15.13%) — spread drag

Sentiment

Bullish or bearish?

6.4

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksNeutral - Strong signal (Conviction: -3%, Raw: -4%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: -3% (neutral) — Raw: -4%

OI Skew Magnitude

≥15%

|OI skew| 47.9% — call-heavy

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew +71.6%, OI skew +47.9% — aligned

Conviction Quality

≥2/3 conditions

0-DTE 10%, far-OTM 15%, avg DTE 30

OI Momentum

|change| ≥3%

OI change +0.0% (5d) — stable

Smart Money Flow

|weighted flow| ≥20%

ITM: -30%, ATM: -10%, OTM: -0% — bearish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 20% — very bullish vs sector

Activity

Unusual activity?

2.2

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks0/8 checks passed

Volume Surge

≥1.5x

Volume 0.2x avg — normal

Turnover Rate

≥15%

Vol/OI 1.0% — normal turnover

Multi-Day Persistence

≥2 days

1 day(s) elevated — may be one-day event

OI Build

≥5%

OI change +2.2% (5d) — building

Sector Relative≥60%

Sector activity percentile 43% — neutral vs sector

Trade Quality

≥30%

Large trade volume 21% — mixed

Execution Urgency

≥60%

Aggressive execution 40% — patient

Flow Conviction

≥30

Conviction -3 (bearish) — mixed

Liquidity

Can I trade efficiently?

3.3

IlliquidLiquid

Evaluates

bid-ask spreads

, volume depth, and open interest for trade execution quality.

Risk Checks3/8 checks passed

Tradeable Spread

≤5.0%

Spread 15.1% — wide

Adequate OI

≥10,000

OI 373,118 — deep

Active Volume

≥500

Volume 3,698/day — adequate

Reasonable Cost

≤$0.50

$0.76 to cross — expensive

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 71% — wider than sector

Order Book Depth

≥100 contracts

Depth 226.5 contracts (bid:116.1 ask:110.4) — adequate

Execution Quality

<1.0%

Avg slippage 9.68% — poor

Timing

Is now a good time?

6.5

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks5/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope +6.1% — backwardation

IV Percentile Clarity

<30 or >70

IV percentile 52% — neutral

Event Detection

≥10pts kink

IV kink 2.5pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 6.13 — favors income trades

Expiration Distribution

≥3 expirations

5 liquid expirations — flexible

Event Risk

≥60% (safe)

caution advised: FOMC in 5d; CPI in 0d (HIGH)

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow -3% @ 52% consistency — unclear

Smart Money Timing

≥40 composite score

Score 51 (ITM 20% + inst 21%) — moderate institutional

Directional Strategy Fit

Option Buyers

Long Calls7.0

bullishIV cheap, bullish flow

Long Puts5.2

bearishIV cheap, bullish flow

Premium Sellers

Cash-Secured Put4.8

bullishIV too cheap, bullish flow

Covered Call3.8

bearishIV too cheap, bullish flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Sep 7, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.

More on SIRI

SIRI gamma walls SIRI option chain SIRI max pain SIRI expected move SIRI IV rank SIRI put/call ratio SIRI options flow