CoreWeave closed at USD 82.08, a 0.61% change.

Large options activity featured a $5.98 million short call sale at the 110.0 strike for June 2027 and a $1.53 million net-credit bull put spread in October 2026. The flow leans bullish on downside underwriting but tempered on upside, with premium-selling dominating block prints rather than aggressive long positions.

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Options Indicators

CoreWeave’s implied volatility is 80.02%, while its IV percentile is 15.94%, which indicates that despite the high absolute IV level, current option pricing sits near the lower end of its own historical range. In other words, volatility is on the low side relative to where CoreWeave options have typically traded, so options appear cheaply priced rather than expensive. With an IV/HV ratio of 1.38, implied volatility is also running above historical volatility, suggesting the market is still assigning a meaningful premium for forward uncertainty even though that premium is not stretched versus its past norms.

The Call/Put volume ratio is 0.74.

Large Trades

A CALL sale worth $5.98 million was the single largest displayed trade, with 5,000 contracts sold at the 110.0 strike expiring on 2027-06-17. With CRWV referenced at 82.08, this call sits out of the money, so the seller is positioning above the current stock price and effectively capping upside beyond that level. Strategically, this is a moderately bearish to yield-oriented stance: the trader is collecting premium while expressing the view that shares are unlikely to rally through 110.0 by expiration, or at least that upside will remain contained enough for the short call to decay favorably.

A bullish put spread with a $1.53 million net credit was the other displayed large trade, built by selling 5,000 of the 79.0 puts and buying 5,000 of the 65.0 puts, both expiring on 2026-10-30. Both strikes are out of the money versus the 82.08 reference price, which makes this a classic premium-collection structure that leans bullish while defining downside risk. The trader is effectively betting that CRWV stays above 79.0 into expiration, with the long 65.0 put serving as protection against a larger breakdown; the net credit indicates a constructive view that seeks income from time decay rather than an aggressive upside chase.

Overall, the large-trade flow leans bullish. While the biggest single print was a sizeable short call that tempers upside expectations, the broader block activity shows repeated premium-selling on downside strikes and multiple bullish put spread structures, indicating investors are generally comfortable underwriting downside risk rather than paying up for protection. Taken together, the pattern suggests the market is constructive on CRWV’s medium-term floor and expects stability to modest strength, even if conviction on explosive upside appears limited.

Strategy Reference

For a low assignment probability on the call side, a seller may prefer the 95.0 strike in the nearer monthly expiration rather than the 110.0 long-dated call; for a defined-risk bullish stance without posting excessive margin, a vertical put credit spread such as selling the 75.0 put and buying the 70.0 put in a nearer cycle can express a floor view with reduced capital requirement.