Recent orbital success on Flight 14 in September 2026, which marked the first sustained orbit and Starlink V3 deployment despite engine issues, combined with the October recovery of Ship 40 for detailed heat shield and Raptor engine analysis, underpins the 70% market-implied odds for full Starship reusability before 2028. SpaceX has repeatedly caught Super Heavy boosters since 2024, and Flight 15 is slated to attempt the first upper-stage tower catch, a prerequisite for rapid reuse of both stages. These verified milestones, alongside V3 design iterations and FAA filings for hundreds of annual launches, reflect trader confidence in SpaceX’s iteration pace, though heat shield durability and in-orbit refueling remain key hurdles that could still delay operational full reusability.