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What goes up, must come down, even rockets, and particularly shares of rocket makers. But the once-in-a-generation surge of SpaceX
shares is moving options prices too, allowing savvy investors to protect their portfolio at no costs.
Space (SPCX) made history with its record-setting Nasdaq listing last Friday, pushing past a $2.5 trillion market cap. To nobody's surprise, Tuesday's launch of SPCX options also set new records for a first-day, post-IPO options volume. The inaugural session saw nearly 1.8 million contracts traded, and revealed a psychological split between ultra-bullish mania and some calculated institutional risk management.
Let's break down two notable large block trades from day one, what they reveal about market sentiment, and how I would play the volatility.
