$SPCX IPO followed up by massive options trading
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"SpaceX options opened with extremely heavy demand," said Chris Murphy, co-head of derivatives strategy at Susquehanna, a market maker.
"Investors continue to chase upside in high-beta AI and space-linked winners," Murphy said.
Some 675,000 options contracts changed hands by 10:40 a.m. ET (1440 GMT), with calls leading puts 1.5-to-1, according to Trade Alert data.
"It's really kind of going nuts," said Brent Kochuba, founder of options analytic service SpotGamma.
Options on SpaceX were the second-most heavily traded contracts on individual companies on Tuesday, topped only by Tesla, Trade Alert data showed.