Rebels Edge · Tue, Jun 16, 2026

SpaceX Options Go LIVE… Traders Go Crazy

Summary

The hosts discuss what they describe as SpaceX’s first day of options trading, alongside falling crude oil prices and declining market volatility. They also review Qualcomm’s AI-device strategy, Dave & Buster’s weak results, and Rackspace’s AI infrastructure developments, before turning to sports.

WTI crude trades near $76.78; the hosts expect lower fuel prices to ease inflation and favor another Federal Reserve pause.
The VIX falls below 16 after declining roughly 20% over five trading sessions.
The hosts report approximately 449,000 SpaceX options contracts traded, with calls outnumbering puts and exceptionally high implied volatility.
Qualcomm is working on more than 40 AI-device designs; Pete likes the company but is reluctant to chase the stock’s rally.
Dave & Buster’s shares fall about 15% following revenue and earnings misses and a roughly 5% decline in comparable-store sales.
Rackspace rallies on an AI infrastructure deployment agreement with AMD; the hosts highlight potential upside while noting its substantial prior gains.
The hosts question weather prediction markets’ measurement rules and discuss alleged manipulation risks.

QCOM PLAY RXT AMD DELL HPE META GOOGL

Full transcript

Welcome back to The Rebel's Edge. I got Pete Najarian here with me, so it's not quite as lonely. In fact, it's not lonely at all cuz I'm here at the United Airlines lounge.
>> [laughter] >> But, we'll be coming to you with today's Rebel's Edge, which includes the first day, folks, of SpaceX calls and puts changing hands. And there's a lot of opportunity activity in this one. We'll have all the 411 on that and the rest of
today's news on The Rebel's Edge.
>> [music] [music] [music] >> All right. Welcome back, folks.
Pete, uh how was How was court yesterday?
>> Uh it was interesting.
>> [laughter] >> Yeah, actually I uh we were just doing a deposition for something on a on a property or whatever, but man, I'll tell you what, John, I don't know how those lawyers do it, but they they're very smart on how they do their hourly wage because that was 4 hours. 4 hours.
>> [laughter] >> Man.
>> Absolutely amazing.
>> Better you than me. Wow.
And meanwhile, I was with QUCY and uh some of their presentations in Washington, D.C. Uh and that was pretty exciting stuff. We'll touch on that more, folks. But, uh let's dive right in, Pete, to macro. And I'm going to say uh
when we said we're going to see a seven handle on the crude oil contract, West Texas Intermediate, turns out that was pretty prophetic, not pathetic, prophetic.
We're right there today.
>> As a matter of fact, John, uh 7678 to be exactly precise right this second. Um >> Nice.
>> So, and you can see sort of some of the movement there, but yeah, down 3 and 1/2% there and now down 5%. So, pretty pretty amazing. And you know what? It was something we've been talking about.
And here's the thing. We've got warsh coming in, right? I mean, and taking care of business. And it's a busy week for that. Everybody's going to be listening and wanting to hear more and more and more. He's got a pause, in my opinion. It's it's not just from the CME, but I'm going to say that it makes so much sense for him to kind of pause one more time. See what things look
like. And oh, by the way, since inflation is basically directly, in my opinion, a huge percentage coming from crude, um I would say that that problem is getting solved as we speak.
>> I think you're exactly right. And uh I In fact, Pete, the CPI and PPI uh that are going to be coming out for June and July will reflect a much lower at the pump price, which will mean, oh gee, it's it's shrinking, which in this case, shrinkage is good.
>> Shrinkage?
>> All right.
>> Shrinkage?
>> What about the shrinkage in VIX, Pete?
What's happening there?
>> You know, it started off early on, John.
It was in a very tight range. It was 16 to about 16 and a quarter. Um and this is the VIX, which in the last five trading sessions has dropped um 20%. So, here we are. You can take a look at it right there, up there towards 22. Now, all of a sudden, we're underneath 16. So, sitting around 15.93
or thereabouts, um I would say that the president uh and and a lot of the folks that are part of them, that whole group, I mean, they they have done a lot of work and it looks like it's paying off. We just got to get to the finish line. We're not at the finish line yet, but we're getting closer.
>> Yeah, it's a lot like phase one, phase two, phase three, right, Pete? I mean, except this happens to be something as much life and death as that. No doubt. All right. Let's uh hit the prediction markets, Pete. I just thought this one was funny um because people will bet apparently bet on anything. And
right now here are the bets for the temperature in Miami today. Now, I really don't think this is uh probably the best use for predictive markets, but nonetheless, as you can see
here, it's it's a uh dog fight between 92 to 93 and 94 to 95. [laughter] >> You know, the crazy thing about this one, John, is there's a little bit of a squeaky thing going on here because you could be 2 mi away from me, 3 mi away from me,
and your temperature is XYZ or whatever, and the person over here. So, I I I guess this one I would probably not want to be a part of because I don't know exactly how that temperature gauge is being read and where is it to be read.
So, this is one of those where makes a hell of a lot of sense. 94 to 95? Yeah.
Uh 92 to 95, those those two being the leaders.
Yeah, but uh how do we know what that number started at and what does it look like now?
>> [laughter] >> Exactly. And Pete I would also throw out there that there's already been an insider trade on some of these uh weather predictions. There has been.
I mean, they had a guy go out, Pete. He happened to know where it was that that reading came from. Usually, it's out by an airport or something like that. Uh but like you say, it could be downtown, it could be anywhere. This guy knew where it was, and he went out there with like a torch and uh moved it up by a
couple degrees. And then they actually charged him with insider trading because they said, "You know what? It is on a commodity exchange because that's how these guys operate right now.
They're CFTC regulated and they said, "Okay, so it's just like you manipulated the market. Okay, you're going to jail." >> [laughter] >> Just crazy. There have been other ones, too. There was a guy that worked for Google, Pete. He was an engineer at Google and he could tell by how many
people were coming in on a certain bet and so forth and he could basically manipulate it that way.
>> Huh.
>> And it was it was like, you know, people will always find a way to cheat. If if it's possible, they'll do it.
All right, well, let's dive into SpaceX.
Speaking of things that are red hot right now, Pete.
Um SPCX, when you guys see the amount of options that have traded in here so far today, I asked Pete to guess on the volatility.
And Pete, what was your guess?
>> I was I was PRETTY FAR OFF.
>> [laughter] >> I YOU KNOW WHAT, JOHN? I I hadn't really paid enough attention to that that part of the movement, but uh yeah, I'm a little bit surprised how high it really is, but uh it makes sense. It it does make sense. So, and the volumes make a lot of sense.
>> [laughter] >> Well, the volumes, folks, um there it is. As of the first day of trading, um we have already seen 449,000 options change hands.
That's a lot right there, folks. And there's the breakdown. It's calls versus puts and the the put call ratio is thus um under 0.6, really. And uh that means that, you know, calls are trading almost two to one versus puts. And I think,
Pete, overall, uh the volatility in the July options was 125.
>> Yeah.
>> And for June, but the June's only have um basically three more trading days.
Today's Tuesday, so they have three more days before the June expiration. So, they're trading at 190 >> [laughter] >> But, oh my. I mean, look at that moonshot. Yeah, for all the people that were you know, saying, "Yeah, I'm going to short it here." I'm sure they'll tell
us, Pete, that they waited a few days.
They didn't really short it. First of all, you never really shorted it anyway, you bunch of posers.
And they probably will never buy it either, Pete. But, this one is kind of the talk of the town. In fact, I'll be on with Charles Payne today, Pete, at 2:25 Eastern, folks, on Fox Business talking about it because man, there's a
lot going on in the space stocks, and this one is obviously the reason.
>> Yeah, and and John, talk about a stock that people just continue to have, you know, an appetite for because came out, priced at 130, all of a sudden it's paid trading what? 150, 155, gets all the way up to 176, pulls back just a little bit.
And here we are today, well, where did we get to? Well, so far we've been over 225 today. So, pretty unbelievably incredible run. I mean, we're talking about nearly 100 points higher than the original pricing was. So, is it is it smooth sailing? To some degree, and I
think one of the reasons why this stock has made the kind of move today, which is about it's better than a 10% move.
It's up 10% right now. It's trading right around, call it 215 or 212, something like that.
But, how about the they decided to make a little bit of a move on somebody, John, on this cursor for 60 billion, 60 billion dollars to power their AI. So, already making moves, already getting more and more news out there for people to look at when it comes to SpaceX, and
that's who Elon is, right? I mean, it's it's why so many people are smart enough, and I was listening to Ron Baron just yesterday talking about this, John.
He decided to go in with another billion just to even it all out because he only had $24 billion into it. He decided to go to get He said, "I I decided to throw another billion, so $25 billion at this thing." I would say that turned out to be a pretty damn good decision yesterday by by Baron Mr. Baron. So, good for him,
and the stock is uh the stock is literally on fire. It's amazing.
>> Well, um that billion is already making him some pretty nice returns. That last billion, Pete.
Um let's switch over to Qualcomm because uh their CEO, Cristiano Amon, um outlined the company's push into the next generation of AI consumer devices, and uh Qualcomm is currently working on more than Pete Get this, 40
40 product designs across everything from the smart glasses like you see at uh Meta and so forth to AI-enabled earbuds and cameras. I mean, this is going to be a just a an incredible move, and you look at Qualcomm the stock and see what it's doing.
Um it gives you uh a lot of not just hope, but belief in what AI is delivering right now for people.
>> Yeah, absolutely incredible, John. And then, like you were talking about, the CEO is really excited about all these things. Next generation AI is what he's referring to it. Stock did get all the way up to 235 in the premarket. In the premarket, 235. 231, I think, was the high that it had gotten once we actually started the the day, the trading day.
And shoot, last time I looked at it, John, a little closer to 219. So, um what what's really going on here? You mentioned that whole thing, and I think with the glasses, what people don't really seem to understand is that this is the next generation. It truly is and and it's something that might and rival is the word that they use. It could
rival the smartphone because if you've got it all there, I mean, it could be pretty incredible. Now, so far I think that the one problem with with some of the glasses is just that they kind of look sort of dorky.
A lot of people are probably staying a little bit away from that, but I think that's something that's a damned easy fix, quite frankly. So, it could be pretty interesting and Qualcomm, I mean, it's just amazing what's going on and and and how how how Qualcomm with their
CEO is pushing pushing pushing and AI and the powering and all the rest of it with all these devices, really really pretty incredible. So, do I like Qualcomm? I do. Do I want to chase it right this moment? Probably not.
>> Well, I I got one I think you would chase to the downside maybe, Pete.
That's Dave & Buster's.
Um now, it's a matter of time before these guys have to say something about AI, Pete.
>> [laughter] >> Yeah.
>> Because I don't think they're going to say something about space.
I don't think they're going to say something about data centers. Maybe they'll turn all those stupid games at Dave & Buster's into a data center, but play, p l a y is the symbol, folks. It is down 15%. It was down even more than that and then it kind of called some of
those losses and cut them back a little, but man, same store sales at these and I think this is one of those things, Pete, that when consumers are cutting back, they can find it pretty easy to cut back at Dave & Buster's.
>> Yeah, I mean, what what's amazing to me is I haven't seen one in a really long time and I did used to know where some of them were scattered around, you know, metropolitan areas and all that kind of thing and they were pretty fun, right?
You go there, you have some pizza, you have some this, that, and you play the games. Well, last I looked, a lot of people can do a lot of these things at home, right? And they'd rather do that, and if they're cutting back at all, they certainly they're they're definitely going to do that. So, as you were talking about the comps uh uh store sales down 5%. This is
one where it's very rare because they did miss. They missed on the top, they missed on the bottom, they missed on just about everything that you could look at and think about, John, but the back to the basics is what they're talking about for their strategy. I don't know. I don't think that's They need to change a lot more than that, and
I think the problem is even if they change it, why are people going to go there? We know why they they go to some of these golf things and stuff like that. We know a lot of those things, but in this case, I just don't see it. I mean, there was a time and place for it, it was great, but I think unfortunately their time is done, and I don't know how much longer these guys
are going to be around. And I'm not saying that to be a bad guy, I'm just saying that that's an opinion.
>> Yeah, Pete, my take on Dave & Buster's is different than yours. Um I don't know why people would go there unless they have coupons, and that means, of course, people less uh profit. Unless they have big coupons that they issue or something. Um I don't know why they'd be flocking
there for pizza and then greasy greasy handles on the games.
>> [laughter] >> I'm just >> It's one person's opinion, though. I'm probably not going on the board of Dave & Buster's anytime [laughter] soon.
>> You You just got ousted, man.
>> I just got caught.
How about this one? Rackspace. Um I guess we should have seen this coming, Pete, because of the great move that Dell made. Um and Hewlett-Packard Enterprise, for that matter. Um a lot of very positive things on both of those two stocks. On Rackspace, shoot,
it was 50 cents in February, Pete. Take a look at it now, folks. It's over six bucks. I know it's a double-digit move today. It was up as much as 20%. Now it's up 10, but my gosh, this is one that I think, you know, if I were really
focused on something, this is where I should have been focused because of AI, data centers, Rackspace. I should have been more focused on this.
>> Yeah, I hear you. And it's uh it is just one of those things. By the way, the short interest here is decent. It's not like crazy, but call it 10%. So, somebody's feeling a little bit of the pain on that 50-cent run all the way up, like you were saying, like six bucks or so. But, you know, they made a deal with this deployment of AI infrastructure
with AMD. So, that's something that I think gave them that big boost today early, John, when it popped up to over 20% to the upside and then kind of fizzled down just a little bit. But, um this is a stock when you look at it and you look at the percentage gain that it's made, it's pretty extraordinary.
So, is this a name that still could have some upside? I would say absolutely it could have some upside. I you know, it it's just like what is the next thing?
And and this seems to be at least a piece of the next thing. And I like what they're doing with the AI infrastructure. And and I'm sure anybody Rackspace with the public and the private cloud and all of that, I think this is a name that people should definitely at least just have it on your board somewhere to keep an eye on this thing
because it's it's getting pretty interesting and more interesting every day.
>> I should have had it on my board, for sure. All right. Well, what do you got as far as a controversial quarterback, Pete? I hear you want to talk a little bit about Texas Tech Red Raider football and maybe a guy who's not going to be there.
>> Yeah, you know, it it it needed to play out this way, John. There was just so much negative uh talk going on about Texas Tech, about what this decision was made, and all the rest of it, you know, this whole thing.
This guy, by the way, Brandon Sorensen, is considered one of the best quarterbacks in college football, including last year, you know, going into the draft this year. He didn't go into the draft, and why didn't he do that? Well, cuz he's going to get five He was going to get five million dollars from Texas Tech. But, the problem here
is the gambling. Now, that is a big problem. And uh and uh and the NCAA wants nothing to do with that, and I don't think the NFL wants much to do with that, but um the NFL probably at least has a little more leeway as far as like will they give this guy a chance? I don't know. I really don't know, John,
but potentially, I've heard people say that he could have been a top-five quarterback in this year's draft.
Um and now they're talking about well, what's your next What is the only option left for this guy? Because ain't no way he's going to play this year because everybody in the Big 12 is just going crazy about this thing, right? So, the reality is, well, he's going to he's going to do the supplemental draft. Now, we don't talk about that much anymore
because it doesn't really occur all that often, and you know, it's kind of a complex thing, and you know, what round is some guy going in, and all the rest of this. I can only tell you this, Terrelle Pryor was a third-round quarterback who uh went went to the uh Raiders back in 2011.
He's the last quarterback that went into this Let's call it a portal if we want, but this this supplemental draft. So, it's pretty interesting, John. I I find it um I think it's the only way that's left for this kid to kind of make it through, and you know, you got to feel bad a little bit for the kid, not a lot, cuz
he made his own decisions. He bet 90,000 bucks on pro and college sports. I mean, that's that's pretty amazing.
Um he's bounced around from Indiana to this place to that place and now Texas Tech. And I think it just makes sense that he's going to have to do this.
Here's the question for you.
Um can they look past it number one in the NFL?
And number two, who are the teams that might be looking for a guy like him?
I'll give you I'll give you my teams. I got Arizona cuz who in hell they got like five quarterbacks but all of them are like 35 years old with different, you know, injuries going on. You got the Jets, you got Miami, and you got Atlanta. All probably need a decent quarterback. This guy is a really good quarterback. Problem is he also was a a
guy betting on games, which is not looked at as a very good thing. So, um what do you think about this, John?
Where will they actually pick him up? I mean, cuz that's still is up. I mean, just cuz they've got the supplemental doesn't mean anybody takes him, but I kind of think that they will and if if I'm one of those teams that's looking around for a quarterback, I'd probably go with Arizona, but you
know, I'd also be worried that uh Las Vegas is just a little north of there.
>> I would say, Pete, that um uh first of all, supplemental draft, the Bears did that when I was living in Chicago and they grabbed some kid out of Notre Dame in the supplemental draft.
And when you do that, you're giving up a regular draft pick, folks. Um I know most of you who really follow football know that, but uh in other words, if the Bears said, you know, "Hey, we want this quarterback uh and we're willing to give up next year's
first-round pick for that quarterback." Cuz basically it's bidding just like that, Pete. Um these these happen because of uh like leagues when, you know, you have something like the World League or the uh uh
Yeah, the USFL, whatever it is. When those things fold up, if a player was in there, somebody some of these teams might say, "Hey, I >> Well, unfortunately, it looks like we lost John. Too bad because I know he had
a lot of commentary that he wanted to throw into this whole thing, but uh the the reality is, this has been a subject that's been going on now for a while, and a lot of people have been kicking that whole thing around, and we just thought it was interesting because of the fact that it looks like it's finally getting repaired to some degree. Now,
will he get drafted?
Who knows? And and John was actually uh talking about how the draft works and so forth. So, in other words, if somebody feels like he's a third round pick, they could just put in a third round pick for him, and if nobody else is above them, well, that's where you get it. Now, you lose your third round pick for next year,
2027. So, anyway, we'll see, but I do know that the kid is a very, very good quarterback. I will say that. And I don't know enough about the gambling he was doing and how he was doing it. I don't really even care. It was a stupid decision to do it, and he shouldn't have, but um sometimes young people and
old people make some bad decisions.
Um I'll jump to the last subject then.
Byron Buxton. This guy has been with the Minnesota Twins for his entire career.
He's 32 years old. He's been playing for 12 years. The guy is absolutely amazing.
The only issue at all with Byron Buxton is this, injuries. The guy just has the hardest time making it through a season playing as many games as as he possibly could. It's just amazing when you look back at what he's been able to accomplish. The guy hits home runs like an absolute animal. As a
matter of fact, right now, he's sitting up there with 23 home runs, which is one behind the leaders, and we we're only in 62 games. So, it gives you a little bit of an idea of how aggressive and how many home runs this guy hits in his 12 years, in 960 games he's hit 191
home runs. So, great player, fun guy. I got to know him a little bit just bumping into him actually down in Naples, Florida when they were down there in the Fort Myers area and so forth.
Um and you know what? If he can stay healthy, he's going to be a lot of fun and I just I thought it was really cool.
He was the American League Player of the Week. He's a guy who probably doesn't get talked about in the in the big stage of the whole US and Major League Baseball, but I'll tell you what, special guy who's doing an amazing job and I just felt like, you know what? Not a lot of other sports items out there really of of any intrigue. We already have talked about the Knicks, you know,
this day and that day, this day and that day. Congratulations to them, by the way. They were absolutely incredible um how they directed themselves throughout the entire season in the playoffs and the whole thing. All right, we look forward to seeing you tomorrow. John and I are back here at 12 or excuse me, 1:00 p.m. Eastern time. We'll see you then.

Transcript from the show's YouTube captions; automatic captions may contain errors. Educational content, not investment advice.