Aug. 16 at 10:18 AM
$SIRI is a slow argument nobody's watching. The chart says distribution… highs sagging for a month, down 7%, volume going quiet.
The options market says otherwise: calls getting bought heavily into the fade, 11.3% of the float short. Someone's accumulating the bet that this bleed is done while the tape keeps bleeding. Price is 1.9% above the floor at 27.92, so the argument settles soon.
Hold it and clear 31.07, the call buyers called the bottom and shorts help them celebrate. Crack 27.92 and the chart was telling the truth the whole time. Nobody posts about SIRI. That's usually when the moves happen.
