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SIRISirius XM Holdings, Inc

Options Analysis Report•RADIO BROADCASTING STATIONS
Market Cap $9.6B|NASDAQ
● 2026-08-31$28.54
BULLISH
Analysis: 2026-08-28 EOD data
1Y +23.5%YTD +39.2%7D +0.3%
73,378
30D
±10.0%
4%

SIRI Options Overview

bullish flow with unusual activity. No clear edge detected.

REWARDS

RISK ANALYSIS

6.1VALUESENTIMENTACTIVITYLIQUIDITYTIMING

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?

6.9
ExpensiveCheap

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

levels.

Risk Checks5/9 checks passed
≤35%

IV Rank 50.4% — elevated vs history

<1.05x

IV/HV 1.28x — IV premium over HV

Sector Relative≤50%

Sector percentile 32% — below sector median

<1.1x

Front/Back 1.02x — flat

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 32.4% — normal range

<80%

Effective IV 69.4% (ATM 32.4% + spread 18.5% + bias) — fair

<3.0%

Total drag 26.30% (spread 18.48% + slippage 7.82%) — high friction

≥5.0

Vega efficiency 0.81 (vega 1.501 / spread 18.48%) — spread drag

Sentiment

Bullish or bearish?

6.8
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksNeutral - Strong signal (Conviction: +8%, Raw: -0%)
|net sentiment| ≥25%

Conviction-weighted: +8% (neutral) — Raw: -0%

≥15%

|OI skew| 49.9% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew +97.8%, OI skew +49.9% — aligned

≥2/3 conditions

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

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: -4%, ATM: +97%, OTM: -87% — strong bullish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 0% — very bullish vs sector

Activity

Unusual activity?

6.6
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks4/8 checks passed
≥1.5x

Volume 2.8x avg — hot

≥15%

Vol/OI 20.1% — high turnover

≥2 days

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

≥5%

OI change +2.7% (5d) — building

Sector Relative≥60%

Sector activity percentile 97% — very active vs sector

≥30%

Large trade volume 94% — heavy institutional

≥60%

Aggressive execution 52% — patient

≥30

Conviction +8 (bullish) — mixed

Liquidity

Can I trade efficiently?

3.8
IlliquidLiquid

Evaluates

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

Risk Checks3/8 checks passed
≤5.0%

Spread 18.5% — wide

≥10,000

OI 365,863 — deep

≥500

Volume 73,378/day — active

≤$0.50

$0.92 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 69% — wider than sector

≥100 contracts

Depth 274.9 contracts (bid:163.6 ask:111.3) — adequate

<1.0%

Avg slippage 7.82% — poor

Timing

Is now a good time?

6.5
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks5/9 checks passed
|slope| ≥5%

Slope +1.8% — flat/unclear

<30 or >70

IV percentile 50% — neutral

≥10pts kink

IV kink 0.1pts — no clear event

<0.5 or >2.0

θ/ν ratio 42.77 — favors income trades

≥3 expirations

5 liquid expirations — flexible

≥60% (safe)

safe window: No events detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +8% @ 54% consistency — unclear

≥40 composite score

Score 124 (ITM 20% + inst 94%) — HIGH institutional

Directional Strategy Fit

Option Buyers
Long Calls7.1
bullishIV cheap, bullish flow
Long Puts5.1
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put5.0
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 Aug 31, 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.

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