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CRWV

CoreWeave, Inc.Close $105.89EOD only

Max Pain

$106.00

Next expiry May 29, 2026

Expected Move

±$7.40

7.0% from close

Price Gap

+0.11

Distance to max pain

IV Rank

Low premium

P/C OI

0.90

Slightly call-heavy

Consensus

6.0/10

Range bias

Published snapshot: May 26, 2026 close

End-of-day snapshot

This page reflects CRWV options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

May 26, 2026 close

CRWV Flow Report

Analysis based on market close April 10, 2026

Directional Theta Gang Flow Earnings Consensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

You are viewing an older report from April 10, 2026. A newer flow report is available for May 22, 2026.

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Flow Verdict

Confidence:

7 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 24.4% from MP

Watch next session: New call OI or premium accumulation at $110-$115 (would reinforce pin/pressure up); Heavy put flow or intraday premium at $92-$100 that flips P/C volume ratio toward 1.0

Flow Summary

Net premium: +$115.1M bullish

P/C volume ratio: 0.56 — call-dominant (substantial call volume today)

P/C OI ratio: 0.95 — OI almost balanced but slight call lean in positioning

Flow is decisively call-biased today with large call premium concentrated at $100, $105 and $110 strikes and a positive dealer footprint (GEX +$61.3M, DEX +45.3M shares). Near-term gamma pinning around $100–$110 is consistent with dealer hedging buying into dips and selling into strength; expiration-week put prints exist but appear more like hedging/expiration-related activity versus a directional put ramp.

Notable Prints

CRWV 2026-09-18 $125 PUT

Vol: 1,523

OI: 195

Vol/OI: 7.8x

IV: 83.6%

Notional: ~$5.65M

Intent: Long-dated protective or structured hedge (institutional put purchase or part of collar/synthetic)

Dual read: Could be a large institutional protective put (bearish hedge) or part of a longer-dated structured trade (collar or spread) tied to equity exposure.

Read-through: Material notional and ITM status (strike $125 > spot $102) imply large balance-sheet hedging or complex positioning rather than a short-term directional bet; emphasizes institution-level risk management despite near-term call flow.

CRWV 2026-04-17 $85 PUT

Vol: 20,536

OI: 1,675

Vol/OI: 12.3x

IV: 107.6%

Notional: ~$1.52M

Intent: Expiration-week protective puts or directional short-dated tail protection (buying puts ahead of expiry)

Dual read: Could be pure bearish/speculative put buying or traders hedging long exposure into expiry; large volume relative to OI suggests new positions being initiated.

Read-through: High short-dated put activity at strikes materially below spot looks like expiration hedging/pin-management rather than signal that institutional flow is shifting bearish versus the dominant call premium.

CRWV 2026-04-17 $86 PUT

Vol: 17,057

OI: 590

Vol/OI: 28.9x

IV: 106.5%

Notional: ~$1.43M

Intent: Large short-dated buying of downside protection (expiry hedge) or aggressive directional put purchases

Dual read: Either aggressive directional short-dated bearish bets or protective hedges for existing long exposure; very high vol/oi suggests fresh demand into expiry.

Read-through: Given overall call-dominant premium and positive GEX, this looks like expiration-hedge flow that may temporarily increase downside friction but not overturn the bullish regime.

CRWV 2026-04-24 $120 CALL

Vol: 4,521

OI: 256

Vol/OI: 17.7x

IV: 88.2%

Notional: ~$0.82M

Intent: Directional call buying (speculation on higher prices into next-week expiry) or opening longer call exposure

Dual read: Fresh bullish call purchase or dealers facilitating overwriting/sales into buyers (neutral to bullish net effect).

Read-through: Out-of-the-money call demand at $120 reinforces skew of call-side premium and appetite for upside beyond near-term expected move — supports bullish bias.

CRWV 2026-04-24 $110 CALL

Vol: 3,786

OI: 611

Vol/OI: 6.2x

IV: 87.8%

Notional: ~$1.51M

Intent: Call accumulation / roll into next-week strikes (directional upside or dealer-facilitated position)

Dual read: Could be buyers adding protection for short stock or outright bullish purchases; the strike sits in the near-term GEX concentration band so activity is meaningful.

Read-through: Reinforces near-term pinning around $105–$110 where dealers will need to hedge and create gamma-related flows.

Institutional Positioning

Call additions: $100-$120 calls (large premium at $100: $29.25M, $105: $17.46M, $110: $16.59M) — heavy call premium concentrated at $100, $105, $110 (near-term expiries)

Put additions: Significant short-dated put buying at $83-$89 (expiry 4/17) and a large long-dated $125 put (9/18) indicating institutional hedging/structured protection rather than a broad put accumulation in the front months.

GEX/DEX consistency: Yes — positive GEX (+$61.3M) and DEX (+45.3M shares) align with the observed call-heavy premium flow and pinning behavior around $100–$110.

OI clusters: $110 call cluster (28,315 OI) and $105 call cluster (23,419 OI) create a near-term call wall/resistance band; $70 put cluster (41,700 OI) remains the largest put concentration but sits well below the ±10% band from spot.

Hedging evidence: Clear evidence of hedging: heavy short-dated put activity (4/17 $83-$86 range) consistent with near-expiry protective buying and a large long-dated ITM $125 put that looks like institutional protective insurance or part of a structured position (collar/synthetic).

Max pain context: Max pain sits down at $82 for near expirations while spot is $102 and MP is rising across expiries; dealers are exposed to call premium and positive GEX which supports a pin/pressure toward the concentrated call strikes ($100-$110) rather than toward MP immediately.

Signal vs Noise

~4/17 short-dated puts at $83-$89: likely expiration hedges or pin-management rather than a sustained directional signal given huge vol/oi and proximity to expiry.

~Large long-dated $200 call volume (5/15 $200C vol 1,524) is extremely OTM (96% from spot) and likely speculative or part of structured exposure, not a near-term directional driver.

~Multiple prints at the same strikes across expirations (e.g., call flows at $100/$105/$110) indicate dealer inventory/gamma hedging activity rather than discrete directional conviction by many small buyers.

Key Conclusions

🐂Net premium strongly bullish: +$115.1M with P/C volume ratio 0.56 — calls dominate today (heavy at $100-$110).

🧾Dealer positioning supports the bias: GEX +$61.3M and DEX +45.3M shares imply dealers buying delta into dips and selling into strength (pinning around $100–$110).

⏱️Expiry-week put prints ($83-$86, 4/17) look like hedges/rolls — treat them as noise relative to the persistent call premium.

📌Key near-term resistance/pin zone: $105–$110 based on largest call OI and GEX concentration (dealer-pin magnet zone within expected move).

🛡️Material longer-dated protection exists (9/18 $125P) — institutions maintain downside insurance even while buying near-term upside exposure.

How to Use These Reports

This flow reflects the market close on April 10, 2026.

What the reports do

Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.

How traders use them

Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.

What to remember

These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.

If the report conviction and the raw data disagree, slow down and resolve the mismatch before sizing risk.