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> some sort of trade that would eliminate my exposure to SpaceX

I think it's less complicated than you'd think.. just buy LEAPS puts proportional to your exposure.



LEAPS are very expensive.


Because they're long-term, yes. It'll really come down to how much you're willing to pay for monthly Elon-shenanigans-insurance.

I'm very interested in seeing how the market prices these options after the IPO.




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