CoreWeave, Inc. closed at $87.85, registering a 2.13 percent decline.
Options activity was dominated by a $1.52 million short call sale at the $100.00 strike expiring November 2026, alongside a $510 thousand short put sale at the $70.00 strike expiring October 2026. Total bearish large-trade flow reached $2.04 million versus only $510 thousand in bullish flow, leaving a net bearish imbalance of $1.53 million.
>>>Click to claim your commission-free cards before trading!
Options Indicators
CRWV’s implied volatility is 78.44%, but its IV percentile is only 5.18%, which indicates that despite the high absolute IV level, current option pricing sits near the low end of its own historical range. In other words, volatility is on the cheap side rather than elevated, and the IV/HV ratio of 0.57 further suggests implied volatility is running below realized volatility, reinforcing the view that options are relatively inexpensive at current levels.
The Call/Put volume ratio is 1.47.
Large Trades
A CALL sale worth $1.52 million was the largest displayed trade, with 1,400 contracts sold at the $100.00 strike expiring on 2026-11-20. With CRWV referenced at $87.85, this call was out of the money, and the sale reflects a moderately bearish to capped-upside view: the trader collected premium while positioning for the stock to remain below the strike or, at minimum, not rally sharply enough to make the short call problematic by expiration. The structure points more to income generation and an expectation of limited upside than to an outright aggressive bearish bet.
A PUT sale worth $510 thousand was the other displayed large trade, with 1,700 contracts sold at the $70.00 strike expiring on 2026-10-16. Since the strike sat below the current stock reference of $87.85, the put was out of the money, making this a bullish premium-selling position. The trader was effectively expressing willingness to own downside exposure only if CRWV fell materially, while collecting option premium upfront; strategically, that suggests confidence in support above $70.00 and a constructive view on the stock’s medium-term downside risk.
Overall large-trade sentiment leans bearish, with total bearish flow at $2.04 million versus bullish flow at $510 thousand, leaving a net bearish imbalance of $1.53 million. The directional conclusion is therefore negative on balance: although there was one meaningful bullish short-put sale that signaled confidence in downside support, the heavier concentration of bearish premium flow—led by the sizable out-of-the-money call sale and reinforced by additional bearish activity in the full large-trade set—shows institutional positioning was more focused on limiting upside expectations and protecting against weaker price action than on chasing further gains.
Strategy Reference
For a low assignment probability short call, consider the $100.00 strike expiring November 2026, while a put credit spread using the $70.00/$65.00 strikes may reduce margin requirement compared to a naked short put.
Comments