Special Situations · The Largest IPO in History
He won't name the 4 tickers until Tuesday at 11:30 a.m. ET. Here's why he's on the other side of the biggest IPO in history.
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This past January, Garrett Baldwin called the top in gold and silver, almost to the day.
He told his readers to take profits, and a few days later the metals dropped.
A year before that, his warning signal went off right before the spring 2025 crash. The news hadn't caught on yet. He had.
That's the thing about Garrett. He spots the top while everyone else is still celebrating.
This week, the biggest IPO in history hit the market. SpaceX. Priced at $135 a share. Worth about $1.77 trillion. The largest deal Wall Street has ever done. It could turn roughly 4,000 people into millionaires.
Every headline says the same thing: get in now.
Garrett is doing the opposite.
So who is he? And why does it pay to listen when he leans the other way?
Who is Garrett Baldwin?
You already know Option Pit. Garrett is the newest name on the desk: an economist and market writer with more than 15 years in the business, with work in Business Insider, Forbes, and Investopedia.
But the resume isn't the point. How he reads the market is.
Garrett doesn't trade headlines. He watches two things almost no one watches together: where the big money is flowing, and what company insiders are doing with their own cash.
When both line up, he buys. When they fall apart, he steps aside.
And it works. Here's the proof.
He's done this before
Garrett's signal, the one he calls the "1% Pattern," counts how many stocks are rising versus how many are falling. When the fallers take over, a warning flag goes up.
That flag has caught the moves most people missed:
Gold via the GLD fund. Garrett raised his "yellow flag" Jan 26 and went "red" Jan 28, right at the peak. Gold has trended lower since, to about $387.
And his biggest week goes all the way back to June 2022. He turned a single trade into a gain of more than 1,500% in about a week.
One trade. Not a typical result. Past performance does not guarantee future returns.
So when Garrett says the whole crowd is wrong about SpaceX, it pays to look closer.
The other side of the frenzy
Right now it's a frenzy. The headlines scream buy. Thousands of people wake up rich on paper. The fear of missing out is everywhere you look.
Here's what nobody on TV will say out loud. This price never got tested in the open market. It got to $1.77 trillion in private rooms, doubling from one insider deal to the next, until it finally went public.
Approximate private tender valuations, then the IPO price. The first time the public has ever set SpaceX's price. Morningstar's published fair value estimate is about $780 billion.
The deal priced at more than twice what Morningstar calls fair value. The crowd is paying top dollar at the single most uncertain moment this company will ever have.
Garrett has seen this movie. It is the same setup that topped gold in January, and flashed red before the 2025 crash. Total certainty. Everyone leaning the same way. That is the exact moment he leans the other way.
And there is a softer target here than the stock itself.
You already know the easy move: buy the big names tied to SpaceX. Google. Nvidia. The banks that got in early. It won't work. SpaceX is a rounding error inside those giants. It barely moves them.
So Wall Street is pushing something that sounds smarter. A backdoor. Can't get SpaceX shares? Just buy one of these small funds that already own some. The pitch is everywhere.
It's a trap.
For years, those funds were the only way regular people could own a sliver of SpaceX. They were the only door in, so buyers paid a brutal markup to get through it. Even now, one of them still costs close to double what it actually holds.
Illustrative. For every $1 of value the fund holds, you pay close to $2. That gap is the premium, and the exact figure moves daily.
Then the door opens. SpaceX hits the public market, and anyone can buy it directly. The one reason that markup ever existed just walked out the door.
This isn't a bet against rockets, or Starlink, or Elon. You can love SpaceX and still make this trade. It's a bet that a fake premium, propped up only because the door was locked, falls back to earth now that the door is wide open.
Garrett's play is a defined-risk options trade on the four funds most exposed when that premium breaks. You know your risk to the dollar before you put a cent down.
He's found the four names. He just won't say them yet.
Here's why he's making you wait.
Why he's making you wait until Tuesday
A great trade rewards patience, not panic.
Garrett wants to watch the debut and Monday's first full day of trading. He wants to see how the market reacts before he commits.
Then, on Tuesday, June 16 at 11:30 a.m. ET, he hands you the whole trade: the four tickers, where to get in, and the exact point where he admits he's wrong and walks away.
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The desk
The economist behind the "1% Pattern." He follows where the money moves and what insiders buy. This week, he brings his trades to the desk for the first time.
More than 20 years trading on the exchange floor. He's trained traders at Goldman Sachs, JP Morgan, and Susquehanna. When the market's fear gauge spikes, Jim Cramer calls him to explain it on live TV.
He's been on the Chicago options floor since 1991, where he built one of its busiest trading desks.
A former exchange member who ran her own trading group.
He went from trading on the floor to running an options and stock fund worth over $1 billion.
A macro trader with 15 years on the AMEX and CBOE floors and years running his own macro portfolio. His strategies grew past $200 million, with 75% profitable months and no losing years.
Together, the desk has nearly 100 years on the trading floor. They don't chase headlines. They spot the setup early and get in before the move.
The track record
This isn't a guess.
Since September, the desk has closed 24 winning trades. Most wrapped up in under two weeks. Ten took less than five days.
None of these were complicated.
Take the GE trade. One simple options play. About $540 in, $1,250 out, in six days.
One member wrote in after the NVDA trade: in at $4.84, out at $8.10. Another sold AMZN calls for a 100% win.
Every trade went out in real time, by text and email. The ticker, the price, the exit. No guessing.
Not every trade is a winner. These are selected closed trades. Past performance. Results are not typical and do not guarantee future returns.
And it's not just the team cashing in.
Members trade right alongside the desk
"In at $1.92, out at $7.50."
"In at $1.83, out at $7.15."
"NVDA: In at $4.84, out at $8.10. Thanks Mark."
"Sold AMZN 220 Calls for $12.40. 100% win."
"In one day I've made the cost of Special Situations."
Individual results. These experiences are not typical and do not guarantee similar outcomes.
Worried it costs a fortune to play? It doesn't.
First month $17. Cancel anytime. 14-day money-back guarantee.
You don't need a big account
This trips up a lot of people.
You're not buying SpaceX at $135 a share. You're not betting your savings against a $1.77 trillion company.
You're making one simple options trade, and you know your risk before you start.
Most cost a few hundred dollars to enter. The GE winner took about $540. A beginner can place it in minutes. A pro will respect how clean it is.
So what exactly do you get when you join?
What you get the moment you join
The SpaceX trade is your first, not your last. Special Situations hunts setups like it all year, and turns them into simple options trades on names you already know.
Your first month
Join today. Get the SpaceX trade, the alerts, a live session, and the dashboard. If it's not for you, ask for a full refund within 14 days. No questions.
Questions, answered
No. The trades are simple, and the weekly sessions walk through every step in plain English. Beginners can follow along. Pros get the precision they want.
Not much. Most trades cost a few hundred dollars to enter. The GE winner took about $540.
No. Every trade comes by text and email with the exact entry. And each one has a set exit, so you know the plan before you act.
Real-time text and email alerts with the ticker, price, and exit. Plus a live dashboard that shows every open trade and where it stands.
Usually 3 to 5 a month. Only the best setups make the cut.
No. Garrett's trade is an options play on the funds most tied to the IPO. You don't buy SpaceX, and you don't short it.
Tuesday, June 16 at 11:30 a.m. ET. You need to be a member before then to get it.
You're covered by a 14-day money-back guarantee, and you can cancel anytime.
P.S. You don't have to short SpaceX, or even have an opinion on it, to make this trade. You just have to be on the right side when a fake markup gets wiped out. Garrett has been on the right side before. This time, he hands you the exact trade, plus everything else the desk sends out. But only if you're in before 11:30 a.m. ET Tuesday.
The SpaceX trade drops in
First month $17, then $49 a month. Cancel anytime. 14-day money-back guarantee.