Public information on Xueqiu shows that investor Duan Yongping recently took two positions tied to SpaceX, traded under the ticker SPCX. The first was an options trade on July 24, when he sold 1,000 put contracts expiring on Dec. 18, 2026, with a strike price of $115. The contracts were sold at about $23.26 each, bringing in roughly $2.326 million in premium.
A second trade followed on Aug. 5, when Duan bought 100,000 shares of SPCX at an average cost of about $108.68. Based on SpaceX’s latest closing price of $140, that stock position was showing an unrealized gain of about $3.132 million.
Taken together, the two trades imply paper gains of about $5.458 million in roughly 20 days. Still, the options position remains open. While the premium has already been collected, Duan would still be obligated to take delivery at the $115 strike price if SPCX falls below that level and the puts are exercised.
BlockBeats noted that SPCX has been highly volatile. After listing in June, the stock at one point rose above $200 before falling back to around $105. In August, the shares rebounded to around $140 as the impact of the first lock-up expiration came in weaker than expected and market risk appetite improved.
BlockBeats reported on Aug. 15, citing public information from the Xueqiu platform, that Duan Yongping recently took part in two SpaceX-related trades through options and common stock in SPCX.
According to the disclosed information, Duan sold 1,000 SPCX put contracts on July 24. The contracts expire on Dec. 18, 2026 and carry a $115 strike price. They were sold at about $23.26, implying total premium income of roughly $2.326 million.
He then bought 100,000 shares of SPCX on Aug. 5 at a cost of about $108.68 per share. Based on SpaceX’s latest closing price of $140, that equity position was showing an unrealized gain of about $3.132 million.
Combined paper gains reach about $5.458 million
Looking at the two trades together, Duan’s latest SpaceX position was showing paper gains of about $5.458 million over roughly 20 days.
There is still open risk in the put position. Although the premium from selling the puts has already been received, the contracts have not expired. If SPCX drops below $115 and the options are exercised, Duan would still be required to buy the shares at the strike price.
SPCX has seen sharp swings
SPCX has been moving sharply in recent weeks. After listing in June, the stock at one point climbed above $200 before falling back to around $105. In August, the shares rebounded to the $140 area as the impact from the first lock-up expiration came in weaker than expected and market risk appetite recovered.
BlockBeats said the trade, which began as a premium-collection strategy through put selling, had developed into a high-probability stage trade.
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