Derivatives and Quantitative Strategist

Gaudenz Schneider

Financial Economist with over 20 years of investment experience across all asset classes. He has worked as a sell-side derivatives researcher and trader on one of London’s largest trading floors, and as a structurer and portfolio manager for the buy-side in Switzerland. As head of Quantitative Strategy at an Asian WealthTech company, Gaudi and his team designed over 50 distinct investment strategies for institutional clients in Australasia.

Gaudi’s analysis follows a scientific approach based on empirical research and quantitative evidence.

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Equity Derivatives

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Context:<a href="https://www.smartkarma.com/entities/space-exploration-technologies-corp-spacex" target="_blank" data-smartkarma-citation="entities:33284:1" rel="noopener">SpaceX (SPCX US)</a> options debuted on 16 June with exceptional first-day activity, trading around 1.7m contracts and more than US$2bn in premium.</li>
<li>
Put/Call balance: Calls led overall, but the put/call ratio of 0.77 still points to relatively balanced two-way demand rather than purely one-sided upside speculation.</li>
<li>
Volatility pricing: July and August ATM implied volatility traded around 110%, showing that investors paid a substantial premium for listed option exposure.</li>
</ul>



Context:SpaceX (SPCX US) options debuted on 16 June with exceptional first-day activity, trading around 1.7m contracts and more than US$2bn in premium.

Put/Call balance: Calls led overall, but the put/call ratio of 0.77 still points to relatively balanced two-way demand rather than purely one-sided upside speculation.

Volatility pricing: July and August ATM implied volatility traded around 110%, showing that investors paid a substantial premium for listed option exposure.


SpaceX (SPCX US): Options Lift Off With US$2bn in Premium on Day One