SpaceX options see record-breaking $3.5M+ contracts on first trading day
By
Christopher Whittall
The kind of bagel that ruins lesser bagels for you.
Summary
SpaceX options debuted on derivatives markets with record-breaking trading volume, surpassing 3.5 million contracts on their first day. This made SpaceX the sixth most traded contract overall and the third most active single stock option, trailing only Tesla and Nvidia. The frenzy reflects intense investor demand to gain exposure to Elon Musk's privately held rocket company through derivatives markets.
Key quotes
· 3 pulledThe frenzy around SpaceX shares spread to derivatives markets on Tuesday as investors scrambling to bet on Elon Musk's rocket maker sent options volumes to record highs on their first day of trading.
Over 3.5m options on SpaceX changed hands on Tuesday, according to the Options Clearing Corp, making it the sixth most traded contract across the entire market.
Among single stock options contracts, activity was only higher in Musk's electric carmaker Tesla and Nvidia, the world's largest company by market cap.
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