Quantum Surge Drives Wild Options Bets

Markets wobbled Monday as quantum computing stocks captured options traders' attention. The catalyst: SpaceX shed over $400 billion in market value after its debut rally reversed sharply on rising US bond yields.

That rotation sent options flow into quantum names fast. IonQ carries 15.2% short interest of free float. Its options chain runs from this Friday all the way out to September 18. Traders with active June 26 expiries are sitting on tight timeframes — any further quantum-driven volatility could force rapid unwinding.

Rigetti Computing tells a similar story. Short interest sits at 19.4% of free float. Availability of shares to borrow stands at just 68% of SI, signalling moderate squeeze risk. Options expiries cluster in weekly increments through August.

Meanwhile, IBM — now in the spotlight after Trump's quantum policy moves — carries a modest 3.4% short interest. Its near-term June 26 and July expiries point to near-dated positioning. Options traders appear to be placing event-driven bets on IBM's quantum narrative.

Marvell Technology stands out with the most densely packed expiry calendar among today's movers. Contracts expire as frequently as two to three times weekly through September. That density suggests elevated hedging activity around AI chip exposure.

With SpaceX spillover still rippling, options flow in quantum and AI names bears close watching into quarter-end.