Arabic version: ارتفاع نشاط خيارات سبيس إكس مع بقاء التقلبات عند مستويات أقل
According to Cnbc, SpaceX shares rose 8% to $171 on Monday, extending a rebound of nearly 50% from their lows. The rocket maker reclaimed its IPO price as the Nasdaq 100 Index reached all-time highs. Morgan Stanley analyst Adam Jonas reiterated a $300 price target, while a Falcon 9 mission delivered four astronauts to the International Space Station in under eight hours last Thursday.
Options trading accelerated with the rally. About 1.7 million contracts valued at $900 million changed hands Monday, twice the 30-day average. Calls accounted for 1 million contracts worth more than $640 million. Cboe LiveVol data indicated traders likely bought 456,000 calls, compared with fewer than 240,000 puts, while likely selling 250,000 puts and 295,000 calls.
The latest advance differs from SpaceX’s June debut because implied volatility is lower after seven weeks of trading within a 10% range. Implied volatility stood at 55, up from an all-time low below 50 on Thursday, but well below the level above 110 seen when the stock moved from $171 to an intraday high above $225 in less than three full sessions after its debut.
Options pricing at Monday’s close assigned less than a 50% chance that SpaceX would touch $225 before July, while giving the shares a 54% chance of reaching $185 by the end of the month. Barchart data showed puts carrying equal or higher implied volatility than calls, suggesting that downside swings remained as possible as a further surge. The 30-day correlation between SpaceX and Tesla was 0.66, according to ThinkOrSwim data.
