Delta Neutral

◀

Thursday, August 6, 2026

nightly pull 2026-08-06 18:13

▶

SPCX OUTLOOK: BEARISH PROTECTIVE PUT CYCLE chain: 2026-08-06 18:13:49.138726

Last Price

$114.92

close $108.27

Position Value

$7,010.12

Share Delta

+0.61

Hedged Delta

0.00

Net Delta

+0.61

UNHEDGED

★ Recommended hedge: BUY 1x SPCX 09/11/26 $125.00 PUT @ ~18.23 ($1,823.00) — delta -0.570 vs share delta +0.61 → net +0.04. OI 395, IV 86.0%, spread 1.9%. Sell it into the next leg down, buy more shares, re-hedge.

HEDGE CANDIDATES — PUTS 30–120 DTE (ranked by delta fit)

Expiry

Strike

Bid / Ask

Mark

Delta

Rel Sprd

Ctrcts→0Δ

Net Δ (1x)

Cost (1x)

09/11/26 (36d)

$125.00

18.05 / 18.40

18.23

-0.570

86.0%

395

1.9%

1.07

+0.04

$1,823.00

SPCX 09/11/26 $125.00 PUT — last 7 day price history (nightly pulls, mark)

07/30

07/31

08/03

08/04

08/05

08/06

Date	Bid / Ask	Mark	Chg	Delta	IV	OI
07/30	19.50 / 26.30	22.90		-0.557	103.0%	0
07/31	25.40 / 26.20	25.80	+12.7%	-0.591	104.0%	4
08/03	22.20 / 22.90	22.55	-12.6%	-0.526	110.0%	349
08/04	16.00 / 16.80	16.40	-27.3%	-0.429	103.0%	349
08/05	22.45 / 23.85	23.15	+41.2%	-0.635	92.0%	381
08/06	18.05 / 18.40	18.23	-21.3%	-0.570	86.0%	395

09/18/26 (43d)

$125.00

19.00 / 19.20

19.10

-0.557

85.0%

9,148

1.0%

1.10

+0.05

$1,910.00

SPCX 09/18/26 $125.00 PUT — last 7 day price history (nightly pulls, mark)

07/28

07/29

07/30

07/31

08/03

08/04

08/05

08/06

Date	Bid / Ask	Mark	Chg	Delta	IV	OI
07/28	22.60 / 22.90	22.75		-0.498	102.0%	12,306
07/29	24.20 / 24.60	24.40	+7.3%	-0.536	101.0%	12,306
07/30	24.10 / 24.50	24.30	-0.4%	-0.542	101.0%	9,356
07/31	26.30 / 26.60	26.45	+8.8%	-0.579	102.0%	9,359
08/03	23.10 / 23.40	23.25	-12.1%	-0.517	106.0%	9,370
08/04	17.05 / 17.45	17.25	-25.8%	-0.426	100.0%	9,384
08/05	23.80 / 24.00	23.90	+38.6%	-0.619	90.0%	9,244
08/06	19.00 / 19.20	19.10	-20.1%	-0.557	85.0%	9,148

10/16/26 (71d)

$125.00

21.65 / 21.90

21.78

-0.522

81.0%

3,187

1.1%

1.17

+0.09

$2,178.00

SPCX 10/16/26 $125.00 PUT — last 7 day price history (nightly pulls, mark)

07/28

07/29

07/30

07/31

08/03

08/04

08/05

08/06

Date	Bid / Ask	Mark	Chg	Delta	IV	OI
07/28	24.90 / 25.20	25.05		-0.477	94.0%	2,801
07/29	26.40 / 26.80	26.60	+6.2%	-0.511	93.0%	2,924
07/30	26.40 / 26.70	26.55	-0.2%	-0.516	93.0%	3,004
07/31	28.50 / 28.90	28.70	+8.1%	-0.548	94.0%	3,033
08/03	25.40 / 25.80	25.60	-10.8%	-0.494	97.0%	3,045
08/04	19.75 / 20.20	19.98	-22.0%	-0.415	91.0%	3,038
08/05	26.10 / 26.45	26.28	+31.5%	-0.576	85.0%	3,210
08/06	21.65 / 21.90	21.78	-17.1%	-0.522	81.0%	3,187

09/11/26 (36d)

$119.00

14.20 / 14.55

14.38

-0.499

86.0%

111

2.4%

1.22

+0.11

$1,438.00

SPCX 09/11/26 $119.00 PUT — last 7 day price history (nightly pulls, mark)

07/30

07/31

08/03

08/04

08/05

08/06

Date	Bid / Ask	Mark	Chg	Delta	IV	OI
07/30	15.80 / 21.30	18.55		-0.494	109.0%	0
07/31	21.20 / 21.90	21.55	+16.2%	-0.538	104.0%	0
08/03	18.40 / 19.00	18.70	-13.2%	-0.472	109.0%	0
08/04	12.80 / 13.60	13.20	-29.4%	-0.372	103.0%	0
08/05	18.70 / 19.05	18.88	+43.0%	-0.571	91.0%	0
08/06	14.20 / 14.55	14.38	-23.8%	-0.499	86.0%	111

09/18/26 (43d)

$120.00

15.75 / 15.95

15.85

-0.501

85.0%

14,475

1.3%

1.22

+0.11

$1,585.00

SPCX 09/18/26 $120.00 PUT — last 7 day price history (nightly pulls, mark)

07/28

07/29

07/30

07/31

08/03

08/04

08/05

08/06

Date	Bid / Ask	Mark	Chg	Delta	IV	OI
07/28	19.40 / 19.70	19.55		-0.456	102.0%	15,597
07/29	20.90 / 21.20	21.05	+7.7%	-0.494	101.0%	14,449
07/30	20.80 / 21.10	20.95	-0.5%	-0.500	100.0%	14,401
07/31	22.80 / 23.10	22.95	+9.5%	-0.537	101.0%	14,818
08/03	19.90 / 20.20	20.05	-12.6%	-0.475	106.0%	14,716
08/04	14.35 / 14.75	14.55	-27.4%	-0.382	100.0%	14,594
08/05	20.25 / 20.50	20.38	+40.1%	-0.569	90.0%	14,957
08/06	15.75 / 15.95	15.85	-22.2%	-0.501	85.0%	14,475

10/16/26 (71d)

$120.00

18.50 / 18.70

18.60

-0.477

81.0%

7,773

1.1%

1.28

+0.13

$1,860.00

SPCX 10/16/26 $120.00 PUT — last 7 day price history (nightly pulls, mark)

07/28

07/29

07/30

07/31

08/03

08/04

08/05

08/06

Date	Bid / Ask	Mark	Chg	Delta	IV	OI
07/28	21.70 / 22.10	21.90		-0.441	94.0%	3,894
07/29	23.10 / 23.50	23.30	+6.4%	-0.474	93.0%	3,917
07/30	23.00 / 23.30	23.15	-0.6%	-0.478	93.0%	3,901
07/31	25.00 / 25.40	25.20	+8.9%	-0.510	94.0%	3,999
08/03	22.20 / 22.60	22.40	-11.1%	-0.457	97.0%	4,155
08/04	16.85 / 17.45	17.15	-23.4%	-0.377	90.0%	7,620
08/05	22.65 / 22.90	22.78	+32.8%	-0.534	85.0%	7,827
08/06	18.50 / 18.70	18.60	-18.3%	-0.477	81.0%	7,773

11/20/26 (106d)

$125.00

24.80 / 25.10

24.95

-0.490

81.0%

1,425

1.2%

1.24

+0.12

$2,495.00

SPCX 11/20/26 $125.00 PUT — last 7 day price history (nightly pulls, mark)

07/28

07/29

07/30

07/31

08/03

08/04

08/05

08/06

Date	Bid / Ask	Mark	Chg	Delta	IV	OI
07/28	27.50 / 27.90	27.70		-0.455	90.0%	1,401
07/29	28.90 / 29.40	29.15	+5.2%	-0.485	89.0%	1,381
07/30	28.90 / 29.30	29.10	-0.2%	-0.489	89.0%	1,412
07/31	30.90 / 31.40	31.15	+7.0%	-0.516	90.0%	1,419
08/03	28.00 / 28.40	28.20	-9.5%	-0.470	91.0%	1,429
08/04	22.45 / 23.20	22.83	-19.0%	-0.406	85.0%	1,431
08/05	28.80 / 29.15	28.98	+26.9%	-0.538	82.0%	1,428
08/06	24.80 / 25.10	24.95	-13.9%	-0.490	81.0%	1,425

09/18/26 (43d)

$115.00

12.80 / 13.00

12.90

-0.446

81.0%

21,473

1.6%

1.37

+0.16

$1,290.00

SPCX 09/18/26 $115.00 PUT — last 7 day price history (nightly pulls, mark)

07/28

07/29

07/30

07/31

08/03

08/04

08/05

08/06

Date	Bid / Ask	Mark	Chg	Delta	IV	OI
07/28	16.50 / 16.70	16.60		-0.415	98.0%	10,667
07/29	17.70 / 18.10	17.90	+7.8%	-0.450	101.0%	10,723
07/30	17.60 / 17.90	17.75	-0.8%	-0.454	100.0%	10,828
07/31	19.50 / 19.80	19.65	+10.7%	-0.492	101.0%	10,839
08/03	16.80 / 17.10	16.95	-13.7%	-0.430	106.0%	10,552
08/04	11.85 / 12.25	12.05	-28.9%	-0.337	100.0%	10,530
08/05	16.95 / 17.15	17.05	+41.5%	-0.515	90.0%	10,873
08/06	12.80 / 13.00	12.90	-24.3%	-0.446	81.0%	21,473

09/11/26 (36d)

$114.00

11.25 / 11.65

11.45

-0.437

82.0%

102

3.5%

1.40

+0.17

$1,145.00

SPCX 09/11/26 $114.00 PUT — last 7 day price history (nightly pulls, mark)

07/30

07/31

08/03

08/04

08/05

08/06

Date	Bid / Ask	Mark	Chg	Delta	IV	OI
07/30	15.40 / 19.80	17.60		-0.445	114.0%	0
07/31	17.90 / 18.60	18.25	+3.7%	-0.490	103.0%	7
08/03	15.40 / 16.10	15.75	-13.7%	-0.427	107.0%	7
08/04	10.40 / 11.15	10.78	-31.6%	-0.325	103.0%	7
08/05	15.40 / 15.75	15.58	+44.5%	-0.513	91.0%	58
08/06	11.25 / 11.65	11.45	-26.5%	-0.437	82.0%	102

11/20/26 (106d)

$120.00

21.60 / 21.90

21.75

-0.453

81.0%

4,181

1.4%

1.35

+0.16

$2,175.00

SPCX 11/20/26 $120.00 PUT — last 7 day price history (nightly pulls, mark)

07/28

07/29

07/30

07/31

08/03

08/04

08/05

08/06

Date	Bid / Ask	Mark	Chg	Delta	IV	OI
07/28	24.40 / 24.80	24.60		-0.423	91.0%	4,228
07/29	25.70 / 26.10	25.90	+5.3%	-0.452	89.0%	4,212
07/30	25.60 / 26.00	25.80	-0.4%	-0.456	89.0%	4,217
07/31	27.50 / 28.00	27.75	+7.6%	-0.483	90.0%	4,212
08/03	24.70 / 25.20	24.95	-10.1%	-0.438	92.0%	3,903
08/04	19.75 / 20.40	20.08	-19.5%	-0.372	85.0%	3,639
08/05	25.35 / 25.70	25.53	+27.1%	-0.501	83.0%	4,194
08/06	21.60 / 21.90	21.75	-14.8%	-0.453	81.0%	4,181

10/16/26 (71d)

$115.00

15.50 / 15.75

15.63

-0.435

77.0%

4,007

1.6%

1.40

+0.17

$1,563.00

SPCX 10/16/26 $115.00 PUT — last 7 day price history (nightly pulls, mark)

07/28

07/29

07/30

07/31

08/03

08/04

08/05

08/06

Date	Bid / Ask	Mark	Chg	Delta	IV	OI
07/28	18.70 / 19.10	18.90		-0.407	90.0%	3,024
07/29	20.00 / 20.30	20.15	+6.6%	-0.435	93.0%	3,199
07/30	19.90 / 20.30	20.10	-0.2%	-0.439	93.0%	3,194
07/31	21.70 / 22.10	21.90	+9.0%	-0.471	93.0%	3,809
08/03	19.20 / 19.60	19.40	-11.4%	-0.419	97.0%	3,818
08/04	14.40 / 14.90	14.65	-24.5%	-0.338	91.0%	3,755
08/05	19.40 / 19.65	19.52	+33.2%	-0.489	85.0%	3,843
08/06	15.50 / 15.75	15.63	-19.9%	-0.435	77.0%	4,007

11/20/26 (106d)

$115.00

18.65 / 18.90

18.77

-0.421

75.0%

1,164

1.3%

1.45

+0.19

$1,877.00

SPCX 11/20/26 $115.00 PUT — last 7 day price history (nightly pulls, mark)

07/28

07/29

07/30

07/31

08/03

08/04

08/05

08/06

Date	Bid / Ask	Mark	Chg	Delta	IV	OI
07/28	21.40 / 21.80	21.60		-0.396	86.0%	526
07/29	22.60 / 23.00	22.80	+5.6%	-0.419	90.0%	583
07/30	22.50 / 22.90	22.70	-0.4%	-0.422	89.0%	963
07/31	24.30 / 24.70	24.50	+7.9%	-0.449	90.0%	1,015
08/03	21.70 / 22.10	21.90	-10.6%	-0.411	86.0%	1,036
08/04	17.15 / 17.75	17.45	-20.3%	-0.338	86.0%	1,073
08/05	22.10 / 22.40	22.25	+27.5%	-0.464	83.0%	1,106
08/06	18.65 / 18.90	18.77	-15.6%	-0.421	75.0%	1,164

09/11/26 (36d)

$110.00

9.20 / 9.55

9.38

-0.384

82.0%

258

3.7%

1.59

+0.23

$938.00

SPCX 09/11/26 $110.00 PUT — last 7 day price history (nightly pulls, mark)

07/30

07/31

08/03

08/04

08/05

08/06

Date	Bid / Ask	Mark	Chg	Delta	IV	OI
07/30	13.40 / 14.90	14.15		-0.420	96.0%	0
07/31	15.50 / 16.10	15.80	+11.7%	-0.450	103.0%	7
08/03	13.20 / 13.90	13.55	-14.2%	-0.387	107.0%	102
08/04	8.70 / 9.55	9.13	-32.6%	-0.288	104.0%	140
08/05	13.00 / 13.30	13.15	+44.0%	-0.465	91.0%	150
08/06	9.20 / 9.55	9.38	-28.7%	-0.384	82.0%	258

09/18/26 (43d)

$110.00

10.25 / 10.35

10.30

-0.384

82.0%

27,107

1.0%

1.59

+0.23

$1,030.00

SPCX 09/18/26 $110.00 PUT — last 7 day price history (nightly pulls, mark)

07/28

07/29

07/30

07/31

08/03

08/04

08/05

08/06

Date	Bid / Ask	Mark	Chg	Delta	IV	OI
07/28	13.80 / 14.00	13.90		-0.370	99.0%	12,627
07/29	14.80 / 15.10	14.95	+7.6%	-0.406	97.0%	12,811
07/30	14.80 / 15.00	14.90	-0.3%	-0.410	97.0%	12,800
07/31	16.40 / 16.70	16.55	+11.1%	-0.445	101.0%	13,279
08/03	14.20 / 14.30	14.25	-13.9%	-0.385	103.0%	12,903
08/04	9.60 / 10.05	9.82	-31.1%	-0.292	100.0%	13,056
08/05	13.90 / 14.15	14.03	+42.9%	-0.459	90.0%	14,075
08/06	10.25 / 10.35	10.30	-26.6%	-0.384	82.0%	27,107

SCENARIOS — SPCX DOWN MOVE, HOLDING 61 SHARES + 1x 09/11/26 $125.00 PUT (estimate ⓘ)

Move	Price	Shares P/L	Put P/L (1x)	Net P/L
-5%	$109.17	$-350.51	+$348.98	$-1.52
-10%	$103.43	$-701.01	+$740.89	$39.87
-15%	$97.68	$-1,051.52	+$1,175.71	$124.19
-20%	$91.94	$-1,402.02	+$1,653.46	$251.44

THE PROTECTIVE PUT CYCLE

1HEDGEBuy puts sized to your share delta (shares ÷ 100). A put whose delta matches makes the combined position ≈ delta neutral.

2STOCK DROPSShares lose value, but the puts gain roughly dollar-for-dollar (delta) plus acceleration (gamma).

3SELL PUTSHarvest the put gains after the down-move. Don't hold to expiry — theta eats the hedge.

4BUY SHARESUse the put proceeds to buy more shares at the lower price. Cost basis drops, share count grows.

5REPEATRe-hedge the larger position with new puts (recheck the table above — you now need more delta) and wait for the next leg down.

Adding positions: edit screeners/delta_neutral/delta_neutral_positions.json — add a ticker, share count, and strategy params (DTE window, min open interest, max spread), then rerun python generate_delta_neutral.py. Each position renders its own hedge card on this page. Scenario P/L is a delta+gamma estimate from real chain greeks; it ignores IV changes and time decay.