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Two large hedge funds were selling SIRI outright-- not hedging their positions-- before the launch. Which is why I asked why they bought the shares in the first place-- did they not know a launch for this company was involved?

Their sales were sales of "a long position".

In this recent selling, I am pleased to say, I have increased my position in the company. With the new stock I bought I have initiated a position in the December 35 put. However, i think the price I paid for the put may have proven to be a phenomenal waste of money-- not a waste of a phenomenal amount of money, but a phenomenal waste of money.

Glad to see ILS told me correctly about the June 30 launch-- I posted the information here the other day. Yahoo Postings about a July 20th launch were nerve wracking.

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