Options Action Veteran traders stunned as SpaceX fans bet on 80% overnight gains: 'I've never seen anything like it'

Orientul Mijlociu

Believers in Elon Musk's astronomic vision for SpaceX are storming options on the stock as punters place cheap bets on massive moves and total premium surpasses trading in monster index ETFs like the State Street SPDR S&P 500 and the Invesco QQQ Trust . About a million options in SpaceX traded as of this writing, amounting to more than $1.4 billion in premium, according to data from ThinkOrSwim and SpotGamma. By contract volume, it's neck-in-neck with Nvidia for the second-most-traded behind