SpaceX breaks Meta options record on debut, draws $2.8B premiums
Business
SpaceX just made Wall Street history: on its first day of options trading, the company saw 1.8 million contracts change hands, crushing Meta's old record from 2012.
All this action brought in about $2.8 billion in option premiums, making SpaceX's market debut one for the books.
SpaceX traders favor calls, institutions hedge
At its busiest, SpaceX options were trading at nearly 10,000 contracts per minute, quickly becoming some of the hottest tickets in the US market.
Most traders bought call options, showing big confidence in SpaceX's future stock growth.
While investors went all in on bold bets, even at high strike prices, institutions played it safer with protective strategies to manage risk as the stock soared.