Rebels Edge · Wed, Jun 17, 2026
The SpaceX Trading Craze Is Getting Bigger
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Jon Najarian discusses stronger-than-expected retail sales, equity gains, and what he describes as a surge in SpaceX-related options trading and volatility. He also reviews company-specific developments at uniQure, Intel, La-Z-Boy, and AST SpaceMobile before closing with sports commentary.
- Najarian argues that actual consumer spending is a better market signal than consumer-confidence surveys.
- He describes heavy speculative activity in purported SpaceX options, citing July implied volatility near 130% and June volatility above 200%.
- The VIX is quoted near 16.81, contrasting with the much higher volatility he attributes to SpaceX options.
- uniQure reportedly rose more than 80% premarket on plans to submit a marketing application for its Huntington’s disease gene therapy.
- Intel’s chip announcement reportedly promises 9% better performance and 18% lower power consumption; Najarian also revisits unusual buying of September $115 calls.
- La-Z-Boy reportedly gained 22% after quarterly results exceeded expectations, with adjusted earnings per share up 37% year over year.
- AST SpaceMobile reportedly advanced after successfully launching BlueBird satellites 8, 9, and 10; Najarian suggests investors are rotating back into other space stocks.
Full transcript
Hello folks, welcome back to Cboe Global Markets and the Rebel's Edge. I'm Jon Najarian. Pete unable to make it today. He's doing a different media today for the Minnesota Vikings and he'll be joining again tomorrow, of course, but what I've got for you today, folks,
SpaceX SpaceX SpaceX. You want more?
We've got SpaceX. BANG!
>> [music] [music] >> WELL, WE'RE ALSO DEBUTING THE Rebel Investors Club hats
because why not? What better place than here where I started my trading career Cboe and now it's Cboe Global Markets.
They are truly global, folks.
You can't really be on a part of the globe that has trading and doesn't have Cboe Global Markets there.
They are everywhere and they're kind enough to let us shoot from right here.
Really appreciate that. So thanks to everybody at Cboe for that. Cboe Global Markets. All right, let's dive right into macro and today I'm going to say macro, folks, is equities higher basically stronger than expected retail sales. I kind of remember a friend of
mine at Newsmax telling me that hey, consumer confidence is really down and I said, first of all, look at where they spend money, not where they are pulled to spend money because polling just doesn't work the same way it used to, folks. If you doubt me,
then take the other side of my trades because I know that where people put their money down is a far better metric for what's going on in the markets um, sentiment and all of it. So, with that said, let me cover a little bit of
SpaceX because yesterday, of course, SPCX, uh, Space Exploration and Technology, Elon's company, um, the options debuted yesterday. Just as we told you they would and, uh, they exploded. They traded huge numbers yesterday. This is
today, folks. Um, what Jared just put up on the screen, this was in the first 60 minutes today. 24,000 contracts at the 200 strike.
If you multiply that strike by the 24,000 contracts, they're controlling $480 million worth of stock with that one trade alone. There were various trades yesterday, folks, that basically
controlled over a billion dollars in SpaceX stock. 50,000 call options at $200. Well, you can do the math. What's 50,000, which is 5 million shares times 200? It's a billion dollars. So, there are so many options trading here. Got
one more screen to show you real quick.
Uh, this is, uh, basically where they stacked up just an hour ago. Tesla was number one as far as volume trade today.
Nvidia two. SpaceX was number three. Um, the number's staggering to see this much interest in a, uh, stock and the there's a lot of rampant upside speculation.
They traded them all the way up to 380 yesterday. They were trading the 315 calls that expire in two days yesterday when they listed this. So, it is a monster, my friends, and, uh, in some cases a feeding frenzy for those
options. So, just wanted to bring that to you because I knew nobody else would.
We are watching this. We're also watching the volatility here, folks, because the volatility of those SpaceX options, um, July options about 130% to give you a metric against it. Um, I think Apple is about 22% vol. So is the S&P 500 around 16. So
when you hear 130, uh, and you know that June was over 200 yesterday, wow, uh, gives you an idea of, uh, how volatile they think these could be and why not? Look at where the stock got to yesterday and where it's trading today. All right, with that said, um, let's just real quickly,
folks, cover the VIX because it's important. It always is. It's based on what the men and women behind me are trading, um, because the VIX right now is just, uh, 1681.
It's holding on to about that level, um, and when you've got the markets moving as they're moving, it's not surprising to see the VIX, uh, in the 16 cuz that's basically a 1% move plus whatever the extrinsic, uh, amount of premium that the traders need to put in
there. Uh, if they price them too cheap, they'll come in and buy it. If they make them too expensive, they come in and sell it. That's the way markets work, as all of you know. Now let's hit prediction exchanges because, um, I thought this one was really interesting because California, um, I
thought really shot themselves in the foot with that proposed billionaire tax.
They thought it was going to be something the proletariat, uh, would like. They thought it was something that people that don't work would say, "Look at those guys over there with the billions of dollars. Let's tax them an extra 5% and let's do it on unrealized gains." Just the fact that they own, for instance, Tesla stock but
haven't sold it. Usually you don't have have taxes on it until you either get a dividend or until you sell your stock.
Well, California was going to be different. They wanted that billionaires tax. Now, the odds of that tax not making it onto the ballot falling dramatically here. This represents how they believe it will not appear on the November ballot, but they've already done the damage to their economy, folks.
I hate to say it, but you know, when Sergey Brin and Larry Page and Peter Thiel and Chamath Palihapitiya and all of these billionaires say, you know, enough. I'm not going to let you guys tax me 5% on my total wealth.
And it's never just once, folks. If this thing got through, they'd be going after everybody the same way. They understand it now, but the damage has been done.
Sorry to say, cuz I'm a native Californian. I was born in San Francisco. So, it's kind of sad to see what that economy has done to itself, because it used to be the fifth largest in the world. And now it's circling the drain with all the debt that they're going to have to pay for all of the services that
they want to provide without the tax base. All right, let's take a look at Unique. Well, this one UQ.
I'm sorry, QURE.
That's what happens when you're dyslexic, I guess.
Maybe that's a dyslexic person named the stock as well.
The shares were up huge.
And why were they up so huge? Well, it's a Dutch biotech company that you and I haven't talked about all that much, but they plan to submit a marketing application for approval of their gene therapy candidate.
This one is very important. It didn't look like it was going to get to the finish line in the US to treat Huntington's disease, but now apparently they're going to be able to do that. And that's why the shares were up better than 80% in the pre-market. Q U R E Keep
it as a stock that you keep on your watch list, folks, because this is finally, uh, mercifully, I guess, going to make it to, um, the finish line.
Let's talk about Intel next because Intel, I N T C, not only do you and I own part of this thing, folks, and I don't just mean in our accounts, I mean because the president bought 433 million shares worth for the American people at
20 bucks a share. And we had unusual activity in the name. Isn't that nice?
So, unusual activity, take a look at this. 2nd of June, we had with the stock trading 106, somebody steps in and buys the September 115 calls. They paid 1630.
Well, so those were out of the money.
All of that is extrinsic, meaning out of the money, premium put in there, folks.
Take a look at where the stock got to today.
Over 120 again. And Intel, basically, they announced their their processing for this new chip. It's going to deliver 9% performance boost, good thing, and 18% reduction in power consumption
to its predecessor. That's huge.
Obviously, you're very well aware of what data centers and how hungry they are for basically power. Well, you need a whole bunch of, uh, data centers to run AI and so forth.
Well, Intel wants to be a big part of that. And now they're offering a chip that you uses 18% less power than their previous chip. That's a big deal. That's why the stock jumped as much as it jumped today. And, uh, we're applauding that, certainly, all of us who are in it
from the unusual option activity. Now, let's hit Lazy Boy. And this is one that I'd send out to my friend Connell McShane over at News Nation. Hey Connell, good to see you, buddy.
He is a He's one of the best in the business. Love him.
But he questioned me when I said I think those people are idiots that are paying attention to things like the Michigan sentiment index or confidence or this or that. Why do I think that, folks? Like I said top of the show, because I'd much rather go with where real money is being
put on the line. If you're putting money on the line, I'm paying more attention to you than if you picked up the phone and took a poll, cuz I have never done that.
And I bet most of you won't do it for free, either. If they're going to pay you, oh yeah, I'll do that. But if they're just asking me questions over the phone, what incentive do I have to do that?
Anyway, these guys, Lazy Boy, up 22% earlier today. Why was that?
Well, their Q4 topped expectations, highlighted by strong operational execution despite a challenging backdrop. Their adjusted EPS, folks, were up 37% year-over-year. So if you've got something like that going on, tell me
again how people are not confident. Tell me again how the sentiment is negative, cuz they might say that, but their dollars spent are saying something completely different. So that's what I'm talking about, Connell McShane. And I hope I get to come on your show again and maybe
fill you in a little more on why you don't want to pay attention to polls, but you do want to pay attention to where real money is put on the line. All right. Lastly, ASTS.
This week, well, for the last several weeks, it's been everything space. And what they did a lot, folks, going into the SpaceX IPO on Friday, was people were selling Bitcoin, they were selling gold, selling silver, and a lot of the space stocks. And now I think they're beginning to rotate back in to those
space stocks because they got their allocation in SpaceX. They hopefully used a little discipline and took some profits. I'm not saying uh that I'm their financial advisor, but I always think it's a good idea to pull money off the table rather than just sit there and roll the dice the whole time. But ASTS
sharply higher. Their uh launch of their Bluebird's 8, 9, and 10, these are satellites, folks, uh was successful.
Because of that success, the stock was moving up. And this is going to be delivering uh data from space much the way, of course, that Starlink does. Um and they're uh saying uh 200 Mbps, uh megabytes per second. That's good.
Still not at SpaceX speed, but it's good. And uh I applaud them. I don't think anybody should own the entire uh spectrum in any of these things. So, I welcome the competition uh even though I'm a SpaceX guy and a Elon Musk guy.
All right, let's dive into a little sports here, folks, and I know you're going to love this one. I only wish Pete was here to see it, too. Um this is Lionel Messi, maybe the best to ever suit up and put those uh um spikes on uh
when he goes out there on the soccer field. I know Pelé was great. I know Ronaldo is great, but watch this and tell me he doesn't win the goat debate for soccer.
>> But even the smartest scientist in human history could explain what Lionel Messi did tonight. The man is 38 years old, brother. This is his sixth World Cup. He should be lucky if he even scores one goal. Well, this immortal human decided to open the game by scoring the best goal of the entire World Cup so far. Top corner.
>> Just a dad.
>> So surely that was it, right? One amazing goal for the all-time legend.
>> Brother.
>> He scored again. He scored a brace in his opening World Cup game. BUT WE ARE SOMEHOW NOT DONE YET BECAUSE THEN HE SCORES A BOTTOM CORNER LASER. The guy had a hat-trick. And by the way, if you guys want to stay up to date on the World Cup, make sure you're following.
For all my fellow Ronaldo truthers out there, but fellas, we have officially lost the war. It's over. Do you understand? THE GUY IS 38 YEARS OLD, SIXTH World Cup.
>> 38 years old.
>> the favorite on Calci to win the Golden Boot. There's no other way around it at this point. Messi is the goat of the sport and all things considered, he might be the greatest athlete of all time. We will never ever see an achievement of this magnitude at this age in any sport in history ever again.
Not >> It is incredible. It is incredible what he's done, folks. And um Argentina, um how lucky are they that this guy plays for them?
Uh just an incredible performance and he's done it throughout his career. Uh 38 years old, probably his last one, but what a way to go out with a triple, with a hat-trick. All right. He's 38 years old. We've already discussed that. He did this historic
hat-trick and he tied um Klose's all-time men's World Cup scoring record.
Uh so if you want to talk goat, uh I'd say this guy should be always in that discussion uh at the top of that list, much like MJ should always be at the top of the basketball goats. All right. Uh
let's wind up with one more, folks. Um I'll say uh Scotty Scheffler is chasing Tiger Woods all-time career earnings record. And this is something that's just amazing because Scheffler, if he if
that's big if, but he if he wins the US Open, that would mean that he's got the Grand Slam and he and Tiger and Rory would be the ones that have done that this century. Tiger Woods has won 120 million dollars. We all know he's a
billionaire and he has that through endorsements and so forth with Nike and all the companies that have been with him. Rory McIlroy has 115 million in winnings. Scotty Scheffler is already, folks, already at 111 million dollars in
winnings, 9 and 1/2 million behind Tiger and he just needs a couple more wins here, folks, and he tops Tiger for the tour career earnings title.
Will he do it and can he do it out in New York? Well, keep an eye on him.
I love watching this guy play golf and I think that it's fabulous that it's not just McIlroy and Tiger that you've got Scheffler, you've got DeChambeau.
There's going to be so much excitement for the Open and I'm all here for it.
Well, thank you for joining me, folks. I know it's always a little bit longer when we are lucky enough to have Pete with us, but like I say, he had other people drawing him over to the Minnesota Vikings today.
So for that reason, I'm here solo at Seebow Global Markets and I appreciate all of you guys for joining me here. I hope you have a great day and we'll be back tomorrow at 1:00 p.m. Eastern time.
right. See you then.
Transcript from the show's YouTube captions; automatic captions may contain errors. Educational content, not investment advice.