Bought Calls in Sirius Sattelite

Tuesday afternoon I bought a modest position in the (SIRI) March $4 calls at a premium of $0.35. The government’s decision regarding the merger with XM (XMSR) was rumored several weeks ago, and the stock has subsequently sold off with the market when that decision didn’t come. However, I think it is likely to come at some point over the next month or so, the merger will likely be approved, and that should have a positive affect on the stock price. I’ve given myself a bigger window than I think I will likely need with regard to the merger decision, and now there is little left to do but wait.

Comments

[arb]

"...However, I think it is likely to come at some point over the next month or so, the merger will likely be approved, and that should have a positive affect on the stock price."

Likely... likely... should.

Uh huh.

As William Goldman said (albeit in a different context),
"Nobody knows anything."

[sparky]

Shouldn't one be required to properly spell their investments?

[firboy4]

I agree about the spelling idea, as it gives me more confidence in the author. I wonder how much he really knows! I've owned SIRI for a while now, sold 25% of it, and might buy back more if it dips again. Yeah, we all hope the merger will come through, but God knows when, and God ain't tellin'!!! So, any speculation has now pretty much become ridiculous.

[german]

siri will go higher, but not before the merger takes place.
i bought at 3,22 ane 3.18 and hope for a small profit soon.

[CAFFPM]

June 6 calls @ .15, I plan on excercising and holding if SIRI acts like it did in Dec '05 after "Howard-mania&quo... pushed it through $8