SpaceX Stock Could 3x by Friday, a $20 Million Options Trade Shows
A $20 million options trade pays off only if SpaceX stock nearly triples by Friday. More than 450,000 contracts sit at a $330 strike before Tuesday's earnings.
That price sits almost three times (3x) above where the stock trades now. Options analysts doubt small investors built the position, and point to a bank instead.
Who Is Behind the $20 Million SpaceX Options Trade
Space Exploration Technologies (SPCX) changed hands near $124 on Tuesday afternoon, up by over 8% on the day. The company priced its June 12 offering at $135, according to its prospectus filed with the Securities and Exchange Commission.
SpaceX has never traded anywhere near $330. Its record high is $225.64, and the median analyst target sits at $225. The strike clears both by about 46%.
The $330 line expiring August 7 holds at least seven times the open interest of the next busiest contract, CNBC reported. Those contracts control 45 million shares, worth roughly $14.8 billion if the stock ever reached the strike.
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