MEMX sets volume records as SpaceX trading lifts retail and options activity

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MEMX volume records & SpaceX

Highlights

MEMX's June average daily share volume surges 40% year over year to 566 million shares, with retail share volume up 61% to 260 million shares and market share reaching 2.42%.
SPCX trades $1.676 billion between June 12 and month-end, becomes the sixth most active retail stock on MEMX, and drives significant activity in leveraged ETFs such as SPCH and SPXS.
Industry average daily options volume rises 50% year over year to 73.8 million contracts in June, with SPCX options starting June 16 and MEMX capturing 20.4% market share in SPCX options.

June trading records and SpaceX activity

As reported by MEMX in its June trading update, average daily total share volume rises 40% year over year to 566 million shares, while retail share volume increases 61% to 260 million shares. Retail activity accounts for 46% of total volume, and MEMX market share reaches 2.42% in June.

SpaceX, trading under SPCX, begins trading on June 12 and quickly becomes a major driver of retail flow on the exchange. From June 12 through month-end, SPCX ranks as the sixth most active retail stock on MEMX, with $1.676 billion traded and 3.5% of total retail notional.

Several leveraged SpaceX exchange-traded funds also add to activity, generating $192 million in retail volume on MEMX. The most active 2x bull ETF is SPCH by Themes, while the most active 2x bear ETF is SPXS by REX Shares.

Index inclusion and options market impact

SPCX joins the Nasdaq 100 index on July 7 and the Russell 1000 index on July 29. Because both benchmarks use float-adjusted market capitalization weighting, SPCX represents less than 1% of each index.

S&P Dow Jones Indices does not fast track SPCX, leaving it ineligible for the S&P 500 until at least mid-2027. The company must first complete the standard 12-month seasoning period and post profitability for four consecutive quarters.

Industry options volume also reaches a June record, helped in part by zero-day options in single stocks and the launch of SPCX options. Excluding indexes, average daily industry options volume rises 50% year over year to 73.8 million contracts.

SPCX options begin trading on June 16 without short-term options, Monday or Wednesday expirations, or penny increments. MEMX says its regular-electronic market share in SPCX options reaches 20.4% on strong quoting and liquidity removal, and the exchange ranks first among 18 venues in quote performance for SPCX.

Our earlier article on Morgan Stanley (MS) highlighted how the stock’s bullish momentum was being supported by positioning ahead of its Q2 2026 earnings and stronger capital-markets activity. It also noted that sizable fees tied to the SpaceX IPO were helping lift the bank’s investment-banking results, reinforcing the positive near-term setup despite the risk of short-term consolidation.

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