Max Knoblauch1/8/26

Bulls pour into Joby and Archer options as Trump’s push for record defense budget boosts eVTOL names

Options traders appear bullish on electric aircraft makers like Archer Aviation and Joby Aviation on Thursday, with large volumes boosting the stocks following President Trump’s call for a record $1.5 trillion US military budget for 2027.

Both companies, as well as newly public rival Beta Technologies, have sizable defense contracts. In July, Archer CEO Adam Goldstein told Sherwood News that he believes the company’s defense side will outpace its civil air taxi service for at least a decade.

Traders seem to believe him. As of 10:53 a.m. ET, about 31,000 Archer call options had exchanged hands, around 9,000 short of its 20-day average for a full day. Joby saw roughly 20,000 call options traded by the same time, eclipsing its 20-day average. For the most actively traded calls for Joby and Archer (C$17s expiring February 20 and C$9s expiring on Friday, respectively), volumes on the ask side are outstripping the bid or mid, indicating motivated buyers.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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