SpaceX Stock Steadies Near $140, Implied Volatility Drops to 57
SpaceX shares have traded in a narrow range around $140 for three weeks, with implied volatility falling to 57 from over 120 before earnings. Options data show a put/call open interest ratio of 1.1, down from Monday's record 1.2, while trading volume favors calls. The most active contract is a $144 strike expiring next day, requiring a 3.5% rise.
After a volatile debut, SpaceX shares have stabilized over the past three weeks. As of August 27, the stock traded within a roughly $10 range around $140. Implied volatility, a key measure of options cost, has declined to 57, down from above 120 before the earnings release. On its first trading day, the stock was the most volatile in the S&P 500, but its current volatility level no longer ranks in the top 25 of the index.
Open interest data show that put open interest exceeds call open interest, with a put/call ratio of 1.1, down from Monday's record high of 1.2. This week's trading volume has been skewed toward calls. The seven most active contracts are all calls, with the busiest being the $144 strike expiring the next day, which requires the stock to rise another 3.5% within the week.
Although implied volatility has retreated from its highs, it remains above the stock's realized volatility.