Since reaching recent highs in mid-June, SpaceX shares have tumbled nearly 50%, while Tesla has fallen about 18% following last week's earnings report. According to options pricing, investors are preparing for a dramatic move in SpaceX shares after earnings. By comparison, Tesla options currently carry implied volatility around 52%, with contracts trading near 55%. Despite the steep decline in SpaceX shares over the past several weeks, many retail investors continue betting on a rebound. Traders executed roughly 21,000 contracts worth about $770,000 in premium, highlighting continued speculation that the stock could recover quickly after earnings.