CRWV Flow Report

Analysis based on market close April 6, 2026

Directional Theta Gang Flow Earnings Consensus

Flow Verdict

Confidence:

5.5 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +0.5 spot 1.2% from MP

Watch next session: $85.00 GEX pin magnet; Put flow at $70.00-$75.00

Flow Summary

Net premium: -$15.7M bearish

P/C volume ratio: 1.18 — put-dominant

P/C OI ratio: 1.03 — neutral

Net premium is bearish with put-dominant volume, but open interest is balanced and positive GEX suggests pinning pressure near $80-$85. The flow is mixed with institutional hedging against downside.

Notable Prints

CRWV 2026-05-01 $75.00 Put

Vol: 1,868

OI: 147

Vol/OI: 12.7x

IV: 89.5%

Notional: ~$859,280

Intent: Fresh directional put buying for downside protection

Dual read: Bought (bearish) or sold/covered (neutral)

Read-through: Consistent with bearish flow regime and hedging ahead of earnings

CRWV 2026-04-10 $83.00 Call

Vol: 2,920

OI: 1,496

Vol/OI: 1.9x

IV: 92.6%

Notional: ~$648,240

Intent: Short-term directional call buying targeting upside

Dual read: Bought (bullish) or sold/overwritten (neutral)

Read-through: Contradicts bearish flow but aligns with positive GEX pinning near $85

CRWV 2026-04-24 $94.00 Call

Vol: 718

OI: 144

Vol/OI: 5.0x

IV: 81.7%

Notional: ~$1,385,740

Intent: Lottery ticket call buying for breakout

Dual read: Bought (bullish) or sold/overwritten (neutral)

Read-through: Low probability bet but large notional suggests speculative upside interest

CRWV 2026-04-17 $64.00 Put

Vol: 990

OI: 315

Vol/OI: 3.1x

IV: 101.4%

Notional: ~$564,300

Intent: Hedging or speculative put buying for deeper downside

Dual read: Bought (bearish) or sold/covered (neutral)

Read-through: Aligns with bearish flow and put OI clusters at $64-$70

CRWV 2026-04-10 $79.00 Put

Vol: 1,111

OI: 643

Vol/OI: 1.7x

IV: 94.7%

Notional: ~$254,419

Intent: Near-term protective put buying

Dual read: Bought (bearish) or sold/covered (neutral)

Read-through: Supports bearish flow with spot near $80.94

Institutional Positioning

Call additions: $83.00-$94.00 calls in April expirations, speculative size

Put additions: $64.00-$75.00 puts across April-May, larger notional

GEX/DEX consistency: No — positive GEX (+$7.2M) contradicts bearish flow (-$15.7M net premium)

OI clusters: $70.00 put wall (43,976 OI), $100.00 call wall (45,595 OI)

Hedging evidence: Yes — large put OI at $64.00-$70.00 and put buying in unusual activity

Max pain context: MP at $80.00 (4/10), $82.00 (4/17), $83.00 (4/24); spot drifting toward pins

Signal vs Noise

~$70.00 ITM call volume (177) is low and likely assignment/hedging, not directional

~High IV (88.7% avg) suggests volatility premium, not pure directional flow

~Some near-term put/call flow may be rolling ahead of April expirations

Key Conclusions

🐻Net premium -$15.7M with put-dominant volume (P/C 1.18)

📌Positive GEX (+$7.2M) creates pinning pressure near $85.00

🛡️Institutional hedging evident with large put OI at $64.00-$70.00

Read the Flow analysis for CRWV for 2026-04-06. This AI-generated report covers regime classification, key price levels, strategy recommendations, and actionable trade ideas drawn from end-of-day options data including gamma exposure, delta exposure, and implied volatility.