Despite widespread fears that Thursday's massive post-IPO share unlock will crush the stock, institutional options traders are aggressively betting on a near-term Space Exploration Technologies Corp.
(NASDAQ:SPCX) rally. $111 Calls See Massive Premium Spike Ahead of Thursday's opening bell, the options market is flashing a distinctly bullish signal that contradicts conventional Wall Street wisdom.
Traders have heavily accumulated SPCX call options expiring on Friday, Aug. 7, specifically targeting the $111 strike price.
According to options chain data on Nasdaq, the premium for these short-term $111 calls spiked dramatically on Wednesday, surging by $2.40 to close at $6.55 per contract.
This unusual options activity—effectively tripling the contract's baseline price—suggests that "smart money" expects the stock to swiftly absorb any selling pressure and surge past the $111 mark by the end of the week.
