SpaceX proxy stocks drop as IPO nears, but options trading shows strong demand.

Ahead of SpaceX's historic IPO pricing at $135 per share, proxy stocks like EchoStar, AST Spacemobile, and Virgin Galactic saw sharp declines but remain popular in options trading. Investors are using these proxies and space-focused ETFs to gain exposure to SpaceX, driving high options volume and premiums. The IPO is expected to generate massive retail interest, with SpaceX likely becoming a top options-traded stock due to its high price and volatility. This trend highlights strong demand despite proxy stock price drops.