SpaceX Draws 500,000 Options Trades Ahead of 1% Nasdaq 100 Entry
Updated
Updated · CNBC · Jul 6
SpaceX Draws 500,000 Options Trades Ahead of 1% Nasdaq 100 Entry
3 articles · Updated · CNBC · Jul 6
Summary
About 500,000 SpaceX options had traded by midday Monday, making it the fifth-most active name as the stock heads for accelerated Nasdaq 100 inclusion the next day.
More than 300,000 calls changed hands versus fewer than 130,000 puts, and call buying outpaced puts by nearly 5-to-1; all 10 most-traded contracts were calls.
SpaceX’s roughly 1% weight in the index behind the $500 billion Invesco QQQ should limit any direct impact, even though its implied volatility of 92 is about 3.5 times QQQ’s.
Shares slipped below $160 on Monday after an 8% drop last Wednesday, underscoring the swings that could keep options demand elevated through lockups, passive buying and hedging activity.