EchoStar Corp (NASDAQ:SATS) is down 4.8% at $120.10, paring some of yesterday's 11.2% rally as investors react to SpaceX's historic initial public offering (IPO). The world's largest initial public offering (IPO) begins trading today under the ticker SPCX after raising $75 billion at $135 per share, and EchoStar --though it owns some of SpaceX stock -- is feeling the pain.
Sector peers Rocket Lab (RKLB) and AST SpaceMobile (ASTS) are also in the red, down 6.5% and 8.5%, respectively, at last look.
SATS has shed 13% since its May 18 record high of $147.25, though support from the 150-day moving average captured the pullback. Despite today's drop, the stock has still surged 600% over the last 12 months and is up 16.5% in 2026.
Options traders have been firmly bullish. EchoStar's 50-day call/put volume ratio of 6.96 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and Nasdaq OMX PHLX (PHLX) ranks higher than 91% of readings from the past year, signaling a much stronger-than-usual appetite for calls.
Today is more of the same. At last look, 21,000 calls have changed hands, volume that's four times the average intraday amount. The weekly 6/12 130-strike call is the most popular, while the June 150 call is also seeing notable activity.
