Trading a SIRI straddle lets you take a pure volatility position on Sirius XM Holdings Inc without committing to a direction. Sirius XM Holdings Inc's straddle involves buying (or selling) a call and a put at the same strike and expiration, profiting when the stock moves more (or less) than the combined premium implies. Use our scanner to evaluate SIRI straddle pricing in real time and find the moments when expected moves are mispriced.
A long straddle on SIRI profits from large moves in either direction and is a classic play into binary events like earnings, product announcements, or macro releases. A short straddle profits when Sirius XM Holdings Inc stays range-bound and implied volatility contracts. The breakeven points are simple: strike plus total premium on the upside, strike minus total premium on the downside. Comparing the SIRI straddle price to historical realized moves helps you judge whether the market is overpaying or underpaying for volatility.
Sirius XM Holdings Inc. provides satellite radio services on a subscription fee basis in the United States. It broadcasts music, sports, entertainment, comedy, talk, news, traffic, and weather channels, including various music genres, such as rock, pop and hip-hop, country, dance, jazz, Latin, and classical; live play-by-play sports from various leagues and colleges; various talk and entertainment channels for a range of audiences; national, international, and financial news; and limited run channels. The company also provides streaming service that includes a range of music and non-music channels, and podcasts, as well as channels that are not available on its satellite radio service; and offers applications to allow consumers to access its streaming service on smartphones, tablets, computers, home devices, and other consumer electronic equipment, as well as connected vehicle services.
In addition, it distributes satellite radios through automakers and retailers, as well as its website. Further, the company provides location-based services through two-way wireless connectivity, including safety, security, convenience, remote vehicles diagnostic, maintenance and data, and stolen or parked vehicle locator services. Additionally, it offers satellite television services, which offer music channels on the DISH Network satellite television service as a programming package; Travel Link, a suite of data services that include graphical weather, fuel prices, sports schedule and scores, and movie listings; and real-time traffic and weather services. The company was incorporated in 2013 and is headquartered in New York, New York. Sirius XM Holdings Inc. is a subsidiary of Liberty Media Corporation.
Earnings, product cycles, macro prints — any time volatility itself is the trade, the SIRI straddle is the cleanest expression of that view. Our scanner prices every SIRI straddle against historical realized moves, flags expirations where the market is overpaying or underpaying for vol, and ranks setups by breakeven width and IV rank. Whether you're long a SIRI straddle into a catalyst or short a SIRI straddle to harvest decay, the options straddle setups that matter are all in one place.
