SpaceX $SPCX's Second Trading Day

SpaceX ($SPCX) shares are up 6% in premarket trading, and the stock looks poised for a strong session. Earlier, Elon Musk tweeted, "I think SpaceX will be able to reach approximately $1 trillion in revenue by 2030."

This morning, several new trading instruments tied to SpaceX will begin trading on CBOE and Nasdaq, including 2x leveraged long and short ETFs from providers such as Defiance, GraniteShares, and ProShares.

Personally, I'll be trading GraniteShares' $SPAL, the 2x leveraged long SpaceX ETF. I currently own 100 shares of $SPCX, but I'm looking to increase my exposure today through $SPAL.

At the same time, I plan to hedge part of my position using $SNK, GraniteShares' 2x leveraged short SpaceX ETF. Why? Because the options market for $SPCX has not opened yet. Until options become available, $SNK is one of the few tools available to hedge my exposure and help protect potential gains while maintaining a bullish position on SpaceX.

As always, leveraged ETFs are designed for short-term trading and come with elevated risk, so position sizing and risk management remain critical.