SpaceX options didn’t just debut on US exchanges. They detonated.
On June 16, trading volume for the ticker SPCX hit 1.3 million contracts by 2 p.m. ET, more than triple the previous first-day record held by Meta. The total premium exchanged topped $2 billion, with calls outnumbering puts at a ratio of 1.4-to-1. The frenzy placed SpaceX as the third most actively traded single-stock options that day, trailing only Tesla and Nvidia.
The historic launch followed the largest IPO in history on June 12, where the company raised $75 billion at $135 per share. Shares surged more than 14% intraday on the options launch, briefly pushing the company’s market valuation past Amazon and Microsoft to exceed $2 trillion.
Cboe analysts described the debut as unprecedented, highlighting significant retail participation and flagging potential gamma-squeeze scenarios. When market makers who sold call options are forced to buy shares to hedge, it can create a feedback loop pushing the price even higher.
The 1.4-to-1 call-to-put ratio confirms a decidedly bullish bias. For institutional players, the record-setting volume is a positive signal: high liquidity means tighter spreads and better execution.