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XM Satellite (NASDAQ: XMSR) closed at $7.38.
XMSR and Sirius Satellite (NASDAQ: SIRI) announced a merger of equals in February of 2007. XMSR shareholders will receive 4.6 SIRI shares for each XMSR share.
The FCC Chairman Kevin Martin recommended approval of the SIRI-XMSR merger. The FCC Commissioners could rule on the proposed merger soon.
XMSR July option implied volatility of 114 is above its 26-week average of 79 according to Track Data, suggesting larger price movement.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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