1.8 MILLION

CONTRACTS TRADED

$2.8 BILLION

OPTION PREMIUM

NO. 3

BEHIND TSLA & NVDA

This was not a quiet debut.
It was a full-scale trading frenzy.

Call Buyers Chased Another Launch

Calls outnumbered puts by approximately 1.3-to-1, showing much of the early activity was aimed at even more upside.

Heavy call buying may also have added fuel to the move. When market makers sell calls, they may buy shares to hedge as the stock rises, creating even more demand.

That can accelerate a rally — but when momentum fades, the same force can work in reverse.

Are SPCX Options Expensive?

SPCX options are carrying extremely high implied volatility. For buyers, that makes the contracts expensive. For sellers, it creates large premiums — but those premiums come with equally large risk.

After reviewing the actual order tickets, the initial buying-power requirements did not appear wildly out of line with the premiums being offered.

The bigger concern is what happens after the trade is opened. A sharp drop, rising volatility or a broker margin increase could expand buying power while the position is already losing money.

A Large Trader Bought Protection

Not everyone was betting on another move higher. A large September options position was purchased to protect against a significant decline in SPCX.

One derivatives strategist suggested the hedge may have been connected to restricted shares becoming eligible for sale later this summer. The trader’s identity and motivation were not confirmed.

What Could Keep SPCX Rising?

The strongest near-term support may come from index funds. SPCX is expected to be added to major FTSE Russell and MSCI indexes near the end of June. Funds tracking those indexes will need to buy shares.

Tight share supply, passive index demand and continued call buying could keep pressure on the upside.

What Could Bring It Back to Earth?

SpaceX may eventually grow into its valuation, but the stock has already moved dramatically above its IPO price. Once the excitement and index buying fade, investors will have to decide how much future growth is already priced in.

The Next Few Weeks: A Tug-of-War

Index funds still have shares to buy, the available supply remains tight and heavy call activity could continue supporting the stock. Once that forced buying fades, the setup may become more fragile.

Maria’s Bottom Line

I’m Waiting for the Drop

I am not chasing SPCX after such a powerful run. I want the stock to come back down to earth before I buy shares or sell puts at a price where I would be comfortable owning it.

For now, I’m generating premium with ASTS and RKLB, where I already have some profit built in.

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Warsh did not signal an immediate rate hike. But he also did not promise rate cuts. That is the key shift.

Rates:

Held steady at 3.50% to 3.75%.

Inflation:

Still too high for the Fed to declare victory.

Maria’s Take

The Fed has become too noisy. Too many speeches, too many mixed messages, and too many officials pulling the market in different directions.

Warsh needs to take control of the message. Not by being reckless. By being disciplined.

The Fed should speak clearly, act carefully, and stop letting every side comment turn into a market event. I think the market may actually like that.

For too long, investors have had to trade around Fed chatter instead of real data. If Warsh can quiet the noise and bring one clear message back to the Fed, that is healthy.

Less noise. More control. Clearer leadership. That is exactly what the Fed needs.

Math Makes Money

TRADES OF THE WEEK

0DTE SPX  •  $30K SCHWAB ACCOUNT

Week of June 15, 2026

All trades 0dte SPX iron condors on the $30K Schwab account. MEIC = Multiple Entry Iron Condor. 50W = 50-wide wings. 95% = stop loss on short leg. No profit target — let trades expire.

Risk Warning

At the time of this writing, we plan on entering most of these trades, but they are part of a much greater and larger trading program and should be considered for educational and entertainment purposes only. Not financial advice of any kind.

Trading involves substantial risk and is not suitable for every investor. You can lose some or all of your money. Nothing here is financial advice or a recommendation to buy, sell, or copy any trade. Do not copy trades blindly. Do your own due diligence, understand the risk, and make decisions based on your own account, risk tolerance, and financial situation.

Mon–Fri 3:25 PM ET  •  Sun 5:55 PM ET

Live trading with the AI robot. Ask Maria and Rob questions in the YouTube chat. A community of trading addicts.

» Quick Short · Watch on YouTube

SpaceX Options Day 2 — The Frenzy Continues
Plus Warsh just changed the Fed’s message