CoreWeave, Inc. closed at $82.64, rising 3.85 percent from the prior close.
The session featured significant bullish options activity, highlighted by two large call purchases worth a combined $2.91 million, signaling strong conviction in the stock's long-term upside potential.
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Options Indicators
CRWV’s implied volatility is 110.59%, and with an IV percentile of 89.24%, current option volatility sits in an elevated zone, indicating that options are priced expensively relative to their own recent history. The IV/HV ratio of 1.32 further suggests implied volatility is running above realized volatility, meaning the options market is embedding a sizable premium for expected future movement. In this setup, long premium positions face a relatively higher entry cost, while premium-selling structures or defined-risk spreads may offer a more efficient way to express a view. The Call/Put volume ratio is 2.53.
Large Trades
A CALL buy worth $1.60 million was the largest single-leg trade of the day, with 2,125 contracts purchased at the 175.0 strike expiring on 2027-03-19. With the stock reference price at $82.64, this strike is deeply out-of-the-money, making it a high-conviction bullish bet on substantial upside over a long time horizon. The structure suggests the buyer is seeking leveraged exposure to a major upside move rather than near-term protection, and the size indicates a willingness to pay meaningful premium for long-dated upside participation.
A CALL buy worth $1.31 million was the second highlighted large trade, consisting of 1,400 contracts purchased at the 87.5 strike expiring on 2026-08-21. This call is also out-of-the-money versus the $82.64 reference price, but it sits much closer to spot than the 175.0 strike, which makes it a more moderate bullish expression with a higher probability of becoming relevant if the stock extends higher. Strategically, this is still a directional upside bet through premium outlay, reflecting expectations for appreciation into next year rather than a premium-selling or hedging posture.
Overall sentiment in CRWV large trades was clearly bullish, with total bullish flow of $2.91 million versus total bearish flow of $0.38 million, leaving a net difference of $2.54 million to the bullish side. The directional judgment is decisively positive because the two largest trades were outright call purchases, both expressing upside intent through premium paid, while the only opposing flow was a much smaller same-direction double call sale that reflects a neutral-to-slightly-bearish premium-collection view. Taken together, the large-trade profile shows investors were far more willing to spend capital on upside exposure than on bearish positioning, pointing to constructive market sentiment with a speculative tilt toward future gains.
Strategy Reference
Given the elevated implied volatility, a premium seller could target the 175.0 strike for low assignment probability, while a trader preferring defined-risk exposure could consider bull call spreads, such as buying the 87.5 call and selling a higher strike like 110.0, to reduce the cost and margin requirement of a bullish position.
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