Are you still waiting for the $135 SPCX? Wall Street and on chain data have started to speak with real money. The most popular scenario in the past few days should be that after experiencing a first day surge, SpaceX's IPO will first retrace to the new investment cost range of $140-150 due to macro pressure on the US stock market and profit taking of new funds. But SpaceX did not choose to follow this script, and today (the morning of June 16th) it has forcefully risen from the ground, with a strong melt up reaching around $227! If we only look at the price, this can certainly be explained as a wave of FOMO (fear of missing out) sentiment after a new stock goes public, but the real-time flow of derivatives on the chain and the huge wave of derivatives on Wall Street will clearly tell you the true flow of funds: Wall Street and on chain hardcore data: Gamma Squeeze of options skyrockets, with 20 billion yuan of mechanical buying orders queuing up Today (June 16th), the US stock market welcomed the strongest catalyst after SpaceX's listing - SPCX options officially went online for trading on exchanges such as Cboe! Gamma Squeeze outbreak: As soon as the options opened, a large number of retail investors crazily chased up and bought forward call options (OTM Calls) on platforms such as Robinhood. This directly triggered an epic gamma squeeze, and market makers were forced to continue mechanical overstocking in the spot market to hedge against Delta risks, becoming the first driving force behind today's morning rally. The extremely deflationary supply and demand structure: SpaceX's IPO subscription was already about twice over subscribed, and early insiders and institutional investors had a strict lock up period of 180 days, resulting in very few tradable floating stocks in the current market. The extremely low supply collided with the extremely surging buying of option derivatives, forming the most classic "less supply, more demand" price surge. So, while the market is still waiting for it to rebound and get on board, what really happens is that the main funds and market makers are forced to queue up to buy above $200. This structural buying momentum is more important than any community call for orders, as it is determined by the hedging mechanism of financial derivatives and has entered the execution path of absolute funds. Macro wave of early pricing: The inclusion of the Nasdaq 100 index is imminent What is even more despairing for bears is that SpaceX is expected to be officially included in the Nasdaq 100 index through a fast track in the next 10-15 trading days (around early July). This means that large passive index funds such as QQ will have to initiate "mechanical buying" at that time. According to preliminary estimates from institutions, this will bring SpaceX a strong net inflow of up to $22-27 billion! The current surge in prices is precisely due to the market pricing ahead of the upcoming billion dollar "national team" buying spree. The issue discussed in the market today has changed: a few days ago, everyone was worried that the 5% underwriting fee would increase costs (the final cost was $141.75). Has the price reached its limit? Today's question has become: If SpaceX, priced at $135, breaks through $210 in less than four days, what is its long-term valuation endpoint? The answer given by Wall Street is to pay for the user explosion of Starlink, the large-scale launch of Starship, and the expected huge infrastructure and computing power cooperation with AI giants such as Anthropic and Google. Institutions have already raised their long-term valuations to trillions of dollars. Cross border Fission: The Expected Price Layer of Hyperliquid and Moomoo What does this have to do with the cryptocurrency industry? The relationship is too big. With Moomoo, a subsidiary of Futu, officially integrating Hyperliquid's on chain perpetual contract market data, global investors have begun to observe the "24/7 expected price discovery" of the US stock market through the SPCX-USDC perpetual market on the chain during the closing period. The surge of SpaceX in the US stock market is simultaneously causing the liquidity of SPCX derivatives on the chain to boil completely. You are still waiting for $135, but today SpaceX in the US stock market is already at a high of $227. Under the long-term narrative support of option leverage amplification, passive index fund buying countdown, and spatial+AI infrastructure, how high can it soar next? Emotions and short-term fluctuations can induce you, but structured capital flows composed of option hedging and index inclusion will never lie. SPCX SpaceX launches new MeltUp GammaSqueeze AiCoin data review