Interesting Trade on My Radar: $SPCE

Virgin Galactic (SPCE) is being labeled the "Tesla of the Space Industry." The stock price is doing its best to maintain that status. Call activity has been active for quite sometime, and continues to attract more buyers even at these levels. More than 60k options traded today, with 90% in Calls. Take a look below:



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If you look at the New Options Chain, you can see that the buyers are all over February options. Earnings aren't until March, so they must be expecting some positive comments coming out of the Barclay's conference next week. By buying the SPCE February $20 Calls, the Risk Reward Breakeven price is near $23.46. This means they believe the risk reward is in their favor if their Target Stock Price is higher than $23.46. Buyers of the SPCE $21 and $22 Calls, think even higher. See here:

IT SPCE New Options Chain

Does it continue this moonshot higher?
Do we consolidate in the high teens? 

IT SPCE Stock chart

Or, are these buyers peeling out of stock and jumping in these calls?
What do you think?
Leave a comment below.

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About the Author Felix Frey

As a Wall Street Veteran, Options Expert, and founder of OptionsGeek, Felix has found a way to simplify options. He's on a mission to close the knowledge gap between the Top 1% and everyone else.