The company delivered four astronauts to the International Space Station in record time, expanded its mobile network spectrum, is reportedly eyeing a $40 billion debt deal to buy Nvidia chips, and CEO Elon Musk said he plans to give shares to every kid in America next year.
Traders think all that means more gains for the stock after it reports earnings after the bell Tuesday.
Options market-makers are pricing about a 6% swing for SpaceX after the event, according to Cboe LiveVol data. That's less than half the 13% it erased after its inaugural report in August, a selloff that turned out to be the low for the shares, which rallied 60% the following two months before reversing before dropping as much as 19% the past two weeks.
While there are about as many open call contracts as puts on the stock, daily trading volume has leaned toward calls the past week, Barchart data shows.
Among the 1.1 million contracts traded Monday – 20% higher volume than the 30-day average – 665,000 were calls, with more bought than sold, according to Cboe LiveVol. Traders also bought more calls than puts, and sold more puts than they bought, the data show, decidedly bullish flow as the space giant heads into its second earnings.