SIRISirius XM Holdings, Inc
Options Analysis Report•RADIO BROADCASTING STATIONS
Market Cap $9.3B|NASDAQ
● 2026-06-09$27.61
BULLISH
Analysis: 2026-06-08 EOD data
1Y +21.0%YTD +34.6%7D -1.7%
Options Vol
6,708
30D
Implied Move
±12.6%
IV Rank
31%
SIRI Options Overview
bullish flow. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.5
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks3/9 checks passed
IV Rank
≤35%IV Rank 55.9% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.13x — IV premium over HV
Sector Relative≤50%
Sector percentile 36% — below sector median
Term Structure
<1.1xFront/Back 1.23x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 41.7% — normal range
Spread-Adjusted Value
<80%Effective IV 81.4% (ATM 41.7% + spread 19.8% + bias) — expensive
Execution Efficiency
<3.0%Total drag 26.42% (spread 19.83% + slippage 6.59%) — high friction
Vega Efficiency
≥5.0Vega efficiency 0.58 (vega 1.146 / spread 19.83%) — spread drag
Sentiment
Bullish or bearish?
7.3
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Strong signal (Conviction: +23%, Raw: +26%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +23% (bullish) — Raw: +26%
OI Skew Magnitude
≥15%|OI skew| 37.2% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +55.0%, OI skew +37.2% — aligned
Conviction Quality
≥2/3 conditions0-DTE 0%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +32%, ATM: +7%, OTM: +33% — bullish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 35% — bullish vs sector
Activity
Unusual activity?
3.5
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.4x avg — normal
Turnover Rate
≥15%Vol/OI 2.1% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change -2.7% (5d) — unwinding
Sector Relative≥60%
Sector activity percentile 56% — neutral vs sector
Trade Quality
≥30%Large trade volume 39% — institutional presence
Execution Urgency
≥60%Aggressive execution 41% — patient
Flow Conviction
≥30Conviction +23 (bullish) — mixed
Liquidity
Can I trade efficiently?
3.4
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 19.8% — wide
Adequate OI
≥10,000OI 321,858 — deep
Active Volume
≥500Volume 6,708/day — active
Reasonable Cost
≤$0.50$0.99 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 70% — wider than sector
Order Book Depth
≥100 contractsDepth 270.1 contracts (bid:161.2 ask:108.9) — adequate
Execution Quality
<1.0%Avg slippage 6.59% — poor
Timing
Is now a good time?
6.9
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks5/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +23.0% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 56% — neutral
Event Detection
≥10pts kinkIV kink 7.5pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 17.18 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)caution advised: No earnings detected; CPI in 1d (HIGH)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +23% @ 62% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 69 (ITM 20% + inst 39%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls6.0
bullishIV fair, bullish flow
Long Puts4.4
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.6
bullishIV fair, bullish flow
Covered Call4.0
bearishIV fair, bullish flow
For educational purposes only. Not investment advice.