CME Group launched single-stock futures for Space Exploration Technologies Corp. (SPCX) on Monday. These regulated derivatives provide a new trading mechanism for the recently public aerospace company. Standard contracts represent 100 shares of SpaceX stock. Micro contracts represent 10 shares per contract.
The financially settled products trade nearly 24 hours a day on the Globex platform. This schedule allows investors to speculate or hedge positions outside of standard stock market hours.
SpaceX has attracted significant short interest following its recent IPO. These futures offer a capital-efficient tool for traders to take long or short positions without owning the underlying stock.