Markets · RKLB up to 10x
Rocket Lab’s perp jumped 4.4% in a minute as earnings came out, then ended the night down 6.1%
Nearly four-fifths of the estimated $12.2 million traded in the contract overnight changed hands in the first hour after the U.S. stock market closed.
Rocket Lab’sRKLB+10.03% perpetual future on trade.xyz jumped 4.4% in the minute the company released earnings Monday afternoon. The move was gone by 5 p.m. Eastern. By 6 a.m. Tuesday the contract traded at $55.24, down 6.1% from its $58.83 price at Monday’s stock market close.
Most of the trading came early. An estimated $9.6 million changed hands between 4 and 5 p.m., nearly four-fifths of the $12.2 million traded over the full 14 hours.
| Zhipu AI (ZHIPU) | $56.84 | $61.44 | +8.10% | $5.2m |
|---|---|---|---|---|
| MiniMax | $20.65 | $22.00 | +6.55% | $2.0m |
| Rocket Lab (RKLB) | $58.83 | $55.24 | -6.11% | $12.2m |
| Unitree | $105.72 | $110.86 | +4.86% | $41.7m |
| CXMT | $6.37 | $6.07 | -4.71% | $12.7m |
| Hims & Hers Health (HIMS) | $22.96 | $22.35 | -2.68% | $3.5m |
| USA Rare Earth (USAR) | $8.77 | $8.56 | -2.40% | $1.3m |
| Applied Optoelectronics (AAOI) | $52.16 | $51.13 | -1.97% | $1.1m |
| Cerebras (CBRS) | $96.67 | $95.11 | -1.61% | $5.1m |
| Intel (INTC) | $59.38 | $58.45 | -1.57% | $14.1m |
- Rocket Lab’s release
- 4:05 p.m. ET Monday, November 9
- Perp close in the release minute
- $60.03 Up from $57.53 at the end of the preceding minute
- First-hour share of turnover
- 79% Estimated from hourly prices and trading volume
- Rocket Lab perp at 6 a.m.
- $55.24 Down 6.1% from $58.83 at 4 p.m. Monday
What traded at 4:05 p.m.
Rocket Lab reported a record $268 million in third-quarter revenue at 4:05 p.m. and forecast $270 million to $290 million for the fourth quarter. The perp had slipped to $57.53 just before the release. In the minute beginning at 4:05, it traded as high as $60.70 and finished at $60.03.
The reversal outlasted the jump. The perp traded at $57.17 by 5 p.m. and $55.47 by 6 p.m., about 23 cents above where it would finish the overnight window. The exchange records show when traders repriced the contract. They do not identify which part of the release traders acted on.
Two contracts rose more than rocket lab fell
Among contracts with at least $1 million in estimated turnover, Zhipu AI rose 8.1% and MINIMAX+6.84% gained 6.6%. Rocket Lab posted the largest decline in that group. Unitree traded an estimated $41.7 million, more than three times Rocket Lab’s turnover, while rising 4.9%.
What the entry price meant for a trader
A perp gives a trader exposure to Rocket Lab’s share price without buying the shares. A hypothetical $10,000 long opened at the 4 p.m. perp price and held to 6 a.m. would have lost about $611 before fees and funding payments. For the same $10,000 of starting exposure at the 4:05 minute’s closing price, the loss would have been about $798. Both figures assume the position stayed open.