News about share lockup

SpaceX reports earnings after the bell on Tuesday. Over the past three months it delivered four astronauts to the International Space Station in record time, expanded its mobile network spectrum, was reportedly eyeing a $40 billion debt deal to buy Nvidia chips, and CEO Elon Musk said he plans to give shares to every kid in America next year. Options market-makers price a roughly 6% move after the report, per Cboe LiveVol data, less than half the 13% erased after its August debut report. The stock rallied 60% over the following two months before reversing, dropping as much as 19% in the past two weeks. Monday's 1.1 million contracts traded were 20% above the 30-day average, with 665,000 calls, and implied volatility is 62 versus above 110 before second-quarter earnings. Two lockup releases, one two days after earnings and one on October 26, together cover over 1.6 billion shares, while earlier releases on Sep. 9, 10 and 24 had no discernible effect.