SpaceX Options Trading Hits 500,000 Contracts as Investors Bet on Call Options Ahead of Nasdaq-100 Inclusion

According to ThinkOrSwim, SpaceX options trading reached 500,000 contracts by Monday morning (July 7, local time), with call options comprising over 300,000 contracts—the fifth-highest volume among all stocks. Put options accounted for roughly 130,000 contracts, with call options dominating the top ten most-traded contracts.

The most-traded contract was a July 17 expiration call with a 450 strike, traded at 0.15 per contract. The stock would need to rally roughly 180% from its 160 closing price to break even on this contract by expiration. SpaceX's implied volatility stands at 92, approximately 3.5 times that of the Nasdaq-100 tracking ETF QQQ. SpaceX begins trading in the Nasdaq-100 index on July 8.