SpaceX Shares Jump 17% on Heavy Options Flow, Announces $60B Cursor Deal
SPCX•Shares of SpaceX spiked as much as 17% in intraday trading while over 600,000 options contracts exchanged hands, with the $220 call expiring Thursday seeing 25,000 lots. The company also announced a $60 billion all-stock acquisition of AI coding startup Cursor, boosting its market value near $2.8 trillion.
1. Heavy Options Trading Drives Stock Surge
On the third day of trading, SpaceX saw over 600,000 options lots traded by mid-morning, making it the third-most active name in US options. The most active contract was the $220 call expiring Thursday, with 25,000 lots changing hands, while three-month implied volatility hovered between 110% and 115% as major firms secured market-making roles.
2. $60 Billion Acquisition of Cursor Boosts AI Footprint
SpaceX agreed to acquire San Francisco-based AI coding startup Cursor for $60 billion in an all-stock transaction, more than doubling Cursor’s November valuation of $29 billion. The deal, stemming from an April partnership clause, is expected to close in the third quarter and will make Cursor a wholly owned subsidiary focused on AI for software development.
3. Market Capitalization Surpasses $2.8 Trillion
Following a roughly 40% rally in three sessions since its IPO, SpaceX briefly reached a market value near $2.8 trillion—overtaking Amazon into the fifth spot globally. Shares peaked at $225.64 before trimming gains, reflecting intense retail enthusiasm, ETF inflows and momentum trading amid a relatively small public float.
