Space Race 2.0: Branson vs. Bezos

Jeff Bezos also plans on going to space later this month

Deputy Editor
Jul 2, 2021 at 10:19 AM
facebook X logo linkedin


The shares of Virgin Galactic Holding Inc (NYSE:SPCE) are skyrocketing this morning, last seen up 16.3% to trade at $50.32, after the space tourism company announced founder Richard Branson will be aboard the next test spaceflight on July 11. The flight will put Branson in space before fellow billionaire and Amazon.com (AMZN) founder Jeff Bezos, who plans to ride up with his company Blue Origin on July 20 during its first passenger spaceflight.

While Virgin Galactic stock has erased much of its recent pullback, it's still set to snap an impressive weekly win streak. The 10-day moving average also provided some padding on the charts, keeping the stock at an impressive 110% year-to-date lead. 

An unwinding of pessimism in the options pits could also put more wind at the security's back. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Virgin Galactic stock sports a 50-day put/call volume ratio which stands higher than 78% of readings from the past year. This implies a much healthier-than-usual appetite for long puts of late. 

Echoing this, the SPCE's Schaeffer's put/call volume ratio (SOIR) of 0.69 stands in the extremely high 99th percentile of its 12-month range, meaning short-term options traders have rarely been more put-biased. 

 

 

 

 

Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.


Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!

 

 
 
 


 
 

Rainmaker Ads CGI