ChainCatcher, citing Jinshi, reported that shares of SpaceX (SPCX.O) began trading today, while options contracts tied to the company are scheduled to start trading next Tuesday. The report stated that SpaceX raised $75 billion at a valuation of $1.765 trillion. Its shares opened at $150, higher than the IPO issue price of $135.
Options to trade on CBOE, Nasdaq and other exchanges
A spokesperson confirmed that the options will be traded on exchanges including the Chicago Board Options Exchange (CBOE) and Nasdaq. With the company’s stock already trading, the launch of options products will give investors instruments to trade around the stock’s future price direction and to hedge against a decline in the share price.
The report also noted that these derivatives may see strong demand because they allow investors to express views on future share-price moves through options contracts. If options trading volume surges, the resulting activity may further increase demand for trading in the underlying shares.