XM Satellite Radio (NASDAQ: XMSR) - The FCC Chairman Kevin Martin recommended approval of the Sirius Satellite (NASDAQ: SIRI)-XMSR merger. The FCC Commissioners could rule on the proposed merger soon.
XMSR and SIRI announced a merger of equals in February of 2007. XMSR shareholders will receive 4.6 SIRI shares for each XMSR share.
XMSR July option implied volatility of 76 is near its 26-week average according to Track Data, suggesting non-directional price movement.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com









