SpaceX-linked pricing is still anchored by the company’s IPO valuation story, but SPCX is trading below its 20-day and 50-day averages while derivatives activity shows neutral funding and a modest ...

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SPCX is changing hands at $135.28, up 0.12% on the session, with a 24-hour range of $134.58 to $135.48 and $31.1 million in reported futures volume. The tokenized contract is sitting just above its 7-day average of $134.59, but still below the 20-day SMA at $142.21 and the 50-day SMA at $149.89, which keeps the medium-term structure heavy rather than trending cleanly higher.

That matters because the contract is pricing exposure to a SpaceX equity story that has been driven by valuation and business-mix headlines, not by any new quarterly earnings release. Reuters reported in April and June 2026 that SpaceX was targeting a $1.75 trillion IPO valuation, with Starlink described as the company’s only profitable segment and a major source of revenue. Reuters also said Musk would retain 85.1% of combined voting power after the filing, underscoring governance concentration as part of the setup. Bloomberg later reported on November 6, 2026, that payments from US government agencies would make up less than 10% of revenue this quarter, down from 16.6% in the most recent quarter.

The business case described by Reuters is straightforward: Starlink is profitable, has over 10 million subscribers, and accounts for roughly 50% to 80% of SpaceX revenue.

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