Notable Tuesday Option Activity: SPCX, ENPH, CIFR

Notable options trading volume was observed on Tuesday across several Russell 3000 components, led by Space Exploration Technologies Corp (SPCX). SPCX recorded a total options volume of 756,467 contracts, representing approximately 75.6 million underlying shares. This activity accounted for roughly 85.9% of the company's average daily trading volume of 88.1 million shares over the past month. A significant concentration of this volume was seen in the $155 strike call option expiring on September 11, 2026, where 50,633 contracts traded, equivalent to approximately 5.1 million shares. In addition to SPCX, Enphase Energy Inc. (ENPH) experienced unusually high options turnover, logging 29,650 contracts or approximately 3.0 million underlying shares, representing 81.6% of its monthly average daily volume. Trading was heavily concentrated in the $40 strike call options expiring September 18, 2026, which saw 5,405 contracts traded. The surge in call buying across these names suggests heightened bullish positioning and speculative interest heading into September expiration cycles.