Sirius and XM

As I warned last night, volatility in XM looked unusually low for a company about to merge - or put another way, the call options that everyone was buying yesterday to get rich quick were just too cheap and good to be true. Flyonthewall.com caught on a little while ago, reporting that SIRI implied volatility at 50 is about average indicating a deal "is not imminent". We told you that last night, and for free! :)