$CRWV — Selling Puts Into AI Infrastructure Conviction
My View: $CRWV is one of the highest-conviction AI infrastructure plays in the market right now, and the volatility premium makes it an ideal sell-put candidate — not a stock to chase long, but a name to get paid while you wait for the right entry.
The Setup:
I sold the $CRWV 20260424 $65.0 PUT at $2.43. Currently marked at $1.25 — unrealized gain of ~48.6%.
Why I took this trade:
CoreWeave is the backbone, not the hype. Unlike AI software names trading on narrative, CRWV provides the actual GPU cloud infrastructure that hyperscalers and model labs depend on. Microsoft is a major customer. That's not speculation — that's contracted revenue.
$65 strike is a structurally strong level. Post-IPO, $65 represents a zone where long-term institutional buyers have shown accumulation interest. I'm not predicting the stock rallies — I'm saying I'm comfortable owning it there if assigned.
IV was elevated at entry. Selling premium into high implied volatility is the edge. The market was pricing in outsized fear; I collected that fear as premium.
Defined risk, asymmetric reward. Max gain is the full $2.43 premium collected. Risk is managed by the conviction level at the strike — I would wheel into shares if assigned.
Risk I'm watching: Any macro deterioration that reprices AI capex sentiment broadly. If hyperscalers start cutting infrastructure spend, CRWV gets hit. That's the one scenario where I'd re-evaluate.
Current Status: Approaching 50% profit target. Will close near full profit or let theta finish the job into expiry.
This is not financial advice. Options involve risk. Do your own due diligence.
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