My $SPCX game plan for next week:
I sold 20 cash-secured put contracts at the $111 strike on Thursday and closed the position for a profit.
I’ll also be looking to sell more cash-secured puts next week.
I think there’s a good chance we’ll see a strong move into earnings.
After earnings, I’ll be looking to buy puts because 20% of SpaceX shares will unlock two days after earnings, which could increase the current float and cause the price to drop.
One thing I’m watching closely is the share unlock schedule:
• Currently, only ~5% of shares are available for trading.
• 20% unlocks two days after earnings (August 6)
• Another 10% unlocks if the stock trades above $175.
• An additional 7% unlocks around August 21, with another unlock around September 10
These unlocks could increase volatility as more shares become available, so it’s something to keep on the radar.
As always, I’ll post updates here as the trade develops.
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