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Story summary
- SpaceX shares dropped over 1% to $113.50 on Monday, erasing more than $1.2 trillion in market cap since the June high of $225.64.
- It was the 13th decline in the last 16 trading sessions.
- Traders bought 106k calls and 77k puts, with $442 million premium concentrated in puts.
- SpaceX will report earnings on Aug. 6 and may sell up to 911.5 million locked-up shares (?20%) the next trading day.
