- Cboe Global Markets plans to list SpaceX options as soon as this week, pending regulatory and clearing approvals, allowing traders to bet on or hedge the private company's share price.
- The move follows rising retail options activity in high-profile tech names and foreshadows future listings for OpenAI (OPEN) and Anthropic (ANTH) after their IPOs.
- The listing aligns with a broader trend of expanding options liquidity and extended-hours trading for high-growth tech names.
Cboe Global Markets expects to list options tied to SpaceX as soon as Tuesday, according to people familiar with the matter. The contracts, subject to regulatory and clearing approvals, would allow traders to bet on or hedge SpaceX share price moves before its anticipated IPO in 2026.
The exchange anticipates strong demand, citing a surge in retail options activity, particularly in high-profile tech names like Tesla (TSLA). "We've seen an insatiable appetite for derivatives on high-growth companies," a Cboe spokesperson said, declining to comment on specific timelines. "SpaceX is a natural fit given its market prominence and the enthusiasm around its eventual public debut."
The listing is part of a broader push by exchanges to expand options liquidity into pre-IPO and high-volatility sectors. Cboe has also signaled plans to list options for OpenAI and Anthropic after their IPOs, furthering the trend of derivatives availability ahead of public listings.
Market participants expect robust initial volume, though liquidity may be sparse until price discovery settles. "We're likely to see strong early interest from both retail and institutional traders," said a derivatives strategist at a major bank. "These options offer a way to express views on SpaceX's valuation without waiting for the IPO."
The development also coincides with regulatory shifts favoring extended-hours trading and broader product access for high-growth names. The SEC has signaled openness to such listings, balancing investor access with market safeguards.
SpaceX's IPO is one of the most anticipated in recent years, with implied volatility expectations running high. Options will provide a tool for hedging downside risk or leveraging upside exposure, though the risks are substantial given the company's private valuation and the lack of historical trading data.
Cboe declined to comment on whether other venues are pursuing similar listings. A spokesperson said the exchange is "committed to expanding product suites that meet evolving investor needs."
Correction: An earlier version of this article misstated the timeline for OpenAI and Anthropic options. Those listings are expected after their IPOs, not concurrently with SpaceX.