Mystery Buyer Just Bet $20 Million SpaceX Could Nearly Triple by Friday.
One Analyst Thinks It Could Be a Big Wall Street Bank
Quick Read – A mystery buyer holds nearly $20 million in SPCX $330-strike calls expiring Friday, requiring the stock to nearly triple from $120. – Kochuba rules out retail, hedge funds, and market-makers, pointing instead to a bank hedging short exposure in the stock or volatility. – Pestrichelli says a $100 rally to $215 by Wednesday morning could make the position profitable, framing it as a cheap hedge rather than a speculative bet. – Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and SpaceX didn’t make the cut. Grab the names FREE today. Open interest in a single out-of-the-money SpaceX (NASDAQ:SPCX) call option is now approaching $20 million, and no one on Wall Street can say for certain who is behind it.
The contract in question is the $330-strike call expiring this Friday, August 7, a strike that would require SPCX to nearly triple in four trading days from around $119.59. Brent Kochuba, founder of SpotGamma, thinks the fingerprints point to a big bank. The pattern is unusual.