SpaceX options trading is booming, becoming one of the hottest targets in U.S. stock options.

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Golden Times Finance reported on June 16 that SpaceX (SPCX.O) options became one of the most actively traded products in the U.S. market on Tuesday, driving the company up by as much as 17% at one point in the early trading on the third trading day after listing. As of 10:35 a.m. New York time, the trading volume for SpaceX options had already exceeded 600,000 contracts, making it the third-largest options trading underlying for U.S. companies. Chris Murphy, co-head of derivatives strategy at Susquehanna International, said, “Options volatility has clearly tilted upward, and investors are willing to pay higher prices to take part in the further short-squeeze momentum following the listing.” According to Murphy’s data, implied volatility—a key indicator of options demand—was already at a high level at the open, with three-month implied volatility reaching approximately 110% to 115% in the early part of trading. The most actively traded options contract was a call option expiring on Thursday with a strike price of $220, with a trading volume of 25,000 contracts, corresponding to 2.5 million shares of stock. Jake Taylor, head of single-stock options at Optiver US, said, “Given the unusually high level of investor interest, we expect both institutional and retail investors to participate actively. Trading activity and volatility will remain high as the market is still forming views on the company’s valuation and outlook.”
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