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SPCXSpace Exploration Technologies Corp. Class A Common Stock

Options Analysis Report•SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC.
Market Cap $1.87T|NASDAQ
● 2026-08-28$141.50
NEUTRAL
Analysis: 2026-08-27 EOD data
1Y +474.5%YTD +548.8%7D +3.3%
743,296
30D
±14.2%
20%

SPCX Options Overview

IV is elevated. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

6.1VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
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SPCX Gamma Walls

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Value

Is IV priced right?

6.3
ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks6/9 checks passed
≤35%

IV Rank 75.6% — elevated vs history

<1.05x

IV/HV 0.52x — IV ≤ HV

Sector Relative≤50%

Sector percentile 86% — above sector median

<1.1x

Front/Back 0.87x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 52.2% — normal range

<80%

Effective IV 58.3% (ATM 52.2% + spread 3.1% + bias) — good value

<3.0%

Total drag 4.91% (spread 3.07% + slippage 1.84%) — high friction

≥5.0

Vega efficiency 44.15 (vega 13.555 / spread 3.07%) — efficient

Sentiment

Bullish or bearish?

5.6
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksNeutral - Weak signal (Conviction: -7%, Raw: -2%)
|net sentiment| ≥25%

Conviction-weighted: -7% (neutral) — Raw: -2%

≥15%

|OI skew| 3.5% — balanced

Same sign, |vol skew| ≥10%

Vol skew +28.2%, OI skew -3.5% — divergent (opposite)

≥2/3 conditions

0-DTE 53%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: -38%, ATM: +3%, OTM: +1% — bearish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 23% — very bullish vs sector

Activity

Unusual activity?

4.7
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed
≥1.5x

Volume 0.6x avg — normal

≥15%

Vol/OI 17.8% — high turnover

≥2 days

1 day(s) elevated — may be one-day event

≥5%

OI change -13.2% (5d) — unwinding

Sector Relative≥60%

Sector activity percentile 91% — very active vs sector

≥30%

Large trade volume 30% — mixed

≥60%

Aggressive execution 48% — patient

≥30

Conviction -7 (bearish) — mixed

Liquidity

Can I trade efficiently?

6.9
IlliquidLiquid

Evaluates

, volume depth, and open interest for trade execution quality.

Risk Checks5/8 checks passed
≤5.0%

Spread 3.1% — acceptable

≥10,000

OI 4,166,737 — deep

≥500

Volume 743,296/day — active

≤$0.50

$0.15 to cross — cheap

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 89% — much wider than sector

≥100 contracts

Depth 227.7 contracts (bid:107.6 ask:120.1) — adequate

<1.0%

Avg slippage 1.84% — fair

Timing

Is now a good time?

7.2
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed
|slope| ≥5%

Slope -13.2% — contango

<30 or >70

IV percentile 76% — seller opportunity

≥10pts kink

IV kink -4.4pts — no clear event

<0.5 or >2.0

θ/ν ratio 84.09 — favors income trades

≥3 expirations

5 liquid expirations — flexible

≥60% (safe)

safe window: No earnings detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow -7% @ 53% consistency — unclear

≥40 composite score

Score 60 (ITM 20% + inst 30%) — moderate institutional

Directional Strategy Fit

Option Buyers
Long Calls6.3
bullishIV cheap, mixed flow
Long Puts5.9
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put5.5
bullishIV too cheap, mixed flow
Covered Call5.1
bearishIV too cheap, mixed flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Aug 31, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.