SpaceX Options (SPCX): Launch Date, Selling Puts to Buy Cheaper, and Covered Call Income

The SpaceX market debut is shaping up to be one of the most anticipated IPOs of 2026, and millions of options traders want the same answer to one question: when will SPCX options actually be listed?

Here is the key fact most "how to buy SpaceX stock" articles miss: options do not start trading on IPO day. When SpaceX shares begin trading — reportedly under the ticker SPCX — you will be able to buy and sell the stock immediately, but the options chain will not exist yet. Listed options must be separately approved and added by the options exchanges after the stock proves it meets listing standards.

In practice, options on a large, liquid IPO typically begin trading about 3 to 5 business days after the stock debuts. Based on widely reported expectations of a SpaceX (SPCX) debut around Friday, June 12, 2026, SPCX options would most likely become available for trading on or around Thursday, June 18 to Friday, June 19, 2026.

Important: the SPCX ticker, the IPO date, and the options-listing date above are based on reported expectations and projections — they are not officially confirmed. Always verify the live ticker and the exact options-approval date with your broker before placing any trade.

The short delay between the IPO and the SPCX options launch date comes down to regulation. Before any options can be listed, the underlying stock has to satisfy the criteria set by the options exchanges and the Options Clearing Corporation (OCC):

• Listed on a national exchange such as the NYSE or Nasdaq.
• Public float of roughly 7,000,000+ shares — which a mega-IPO like SpaceX clears instantly.
• At least ~2,000 shareholders.
• Sustained trading volume and a minimum share price over the first days of trading.

A blockbuster name like SpaceX clears the size and volume thresholds on day one. The remaining gate is simply the exchanges processing the listing — which is why the 3-to-5-business-day window is the realistic target for SPCX options going live, rather than the opening bell.

Once SPCX options do list, expect the first week to be one of the wildest options environments on the market. A few realities to brace for:

• Sky-high implied volatility: An Elon Musk-linked name will carry massive retail hype. That pushes implied volatility — and therefore option premiums — to extreme levels. Rich premiums are attractive to sellers, but they exist precisely because the expected price swings are huge.
• Wide bid/ask spreads: Brand-new options markets are thin. Spreads can be wide enough to eat a meaningful chunk of any trade.
• Violent price discovery: The market is still deciding what SpaceX is worth. Large gaps up and down in the first weeks are normal.
• The lockup overhang: IPO insiders are usually restricted from selling for roughly 90 to 180 days. When that lockup expires, a flood of new shares can trigger sharp moves.

None of this means avoid SPCX options — it means size small and respect the volatility. The high premiums are the opportunity and the warning sign at the same time.

Strategy A is built for the trader who wants SpaceX exposure but is afraid of chasing a hyped IPO at the top. Instead of buying SPCX at whatever it spikes to on day one, you can sell a cash-secured put and name your own buy price.

The idea in one line: you pick a target price below where the stock is trading, get paid a premium to wait there, and you either keep that premium or you are assigned the shares at your chosen discount.

• If SPCX stays above your strike: you keep the premium as income. With first-week implied volatility this high, those premiums can be unusually large.
• If SPCX drops to your strike: you buy 100 shares per contract at your target price — minus the premium you already collected, a built-in discount to the strike.

Quick illustration (numbers are hypothetical): Say SPCX spikes to $180 on day one but you would rather own it near its reported $135 offering area. Once options list, you sell a cash-secured put at the $135 strike and collect a large premium driven by the elevated volatility. You are paid to wait for your price. The trade-off: a hyped IPO can fall well below your strike, and a cash-secured put does not protect you from that decline — only sell a put at a price you would genuinely want to own SPCX at. See our full guide on cash-secured puts for the mechanics.

Strategy B is for the investor who already holds SpaceX shares — whether through an IPO allocation or by buying early on day one. Once you own at least 100 shares, the covered call turns that position into an income engine.

You sell a call option against your shares at a strike above the current price and collect the premium upfront. Because SPCX's implied volatility will likely be sky-high in the early months, those call premiums can be exceptionally rich — letting holders generate a steady weekly or monthly yield on a stock they already own.

• If SPCX stays below your strike: the call expires, you keep the premium and your shares, and you can sell another call next cycle.
• If SPCX rips above your strike: your shares are sold (called away) at the strike — you keep the premium plus the gain up to the strike, but you cap further upside.

That capped upside is the real cost: on a hyped name that can double, a covered call seller does not fully participate. The strategy trades a slice of explosive upside for consistent, high-volatility premium income — which is exactly why strike selection matters so much on a stock like SPCX.

If you want to be ready the moment SPCX options go live, here is the practical sequence:

• Get an options-approved brokerage account now. Approval can take days — do it before the listing, not after.
• Buy or watch the stock at IPO, knowing the options chain will not appear until roughly 3–5 business days later.
• When SPCX options list, check the chain and confirm the exact expirations and strikes with your broker.
• To enter cheaper: sell cash-secured puts at a target price you would happily own.
• To earn income on shares you hold: sell covered calls and harvest the elevated premium.
• Manage the volatility: size positions small, expect wide spreads, and plan around the lockup expiration.

Want to pair these strategies into one repeatable cycle? Read how the wheel strategy rotates from selling puts into covered calls.

The window around a major IPO moves fast, and high-volatility names like SPCX leave little room for guesswork. If you want to be prepared before SpaceX options list, the OptionLeo coaching program covers cash-secured puts, covered calls, the wheel strategy, implied volatility, and disciplined trade planning in a structured 12-week curriculum.

You can schedule a free strategy call to talk through how to approach a new high-volatility listing — or explore the coaching program and browse more options articles first. There is no obligation; the call is a chance to ask questions and decide whether a structured options income process is right for you.