CoreWeave, Inc. closed at 71.77 USD, down 2.88 %.

CoreWeave drew notable options activity with a $1.83 million put sale and a $0.32 million call purchase dominating the tape. The large trades, concentrated in bullish structures, point to robust conviction even as the stock pulled back on the session, with traders positioning for both downside support and meaningful upside over extended horizons.

>>>Unlock Earnings Insights & Commission-Free Trading Benefits!

Options Indicators

CRWV’s implied volatility stands at 112.21%, and with an IV percentile of 89.24%, current option volatility is in the elevated range, indicating that options are priced expensively relative to their own historical levels. Yet the IV/HV ratio of 1.00 shows implied volatility is broadly in line with realized volatility, so while premiums are rich on a percentile basis, the market’s pricing is not materially detached from the stock’s actual recent movement pattern. The Call/Put volume ratio is 1.27, reinforcing a bullish tilt in overall option flow.

Large Trades

A PUT sale worth $1.83 million was the largest trade of the day, with 2,000 contracts of the June 16, 2028 $35.00 put sold. With the stock reference price at $71.77, this strike is out of the money, making it a moderately bullish cash-secured or margin-backed put-writing trade. By selling far-downside protection, the trader expresses confidence CRWV will remain above $35.00 through expiration and collects premium income upfront, reflecting a bullish-to-neutral stance that could also lead to share accumulation at a deep discount if assigned. A CALL purchase worth $0.32 million was the other highlighted trade, consisting of 2,000 contracts of the August 7, 2026 $80.00 call bought. At $71.77, the $80.00 strike is out of the money, representing a straightforward bullish directional bet on upside over the coming year. The buyer paid premium for leveraged exposure to a move above $80.00, suggesting expectations for meaningful appreciation rather than a hedge. Overall sentiment is clearly bullish, with all large-trade flow concentrated in bullish structures and no meaningful bearish trades appearing. The mix of an out-of-the-money put sale and an out-of-the-money call purchase points to constructive expectations from two angles: one investor monetizing downside support well below spot, another paying for leveraged upside above the current price. Taken together, the activity suggests confidence in CRWV’s ability to hold firm and potentially move higher.

Strategy Reference

For a similar low-assignment-risk approach, sellers could consider a shorter-dated put around the 50.00 strike, which sits further out of the money relative to the elevated IV percentile, while traders preferring a defined-risk bullish view without heavy margin might deploy a call spread such as buying the 80.00 call and selling a higher-strike call to offset the rich premium.