CoreWeave put trading surges as AI cloud stocks fall
CNBC reported a $1.9 million position in December puts as concerns about financing costs weighed on neocloud shares.
CoreWeave options activity surged on Wednesday as the AI cloud company’s shares fell about 15% and traders increased bearish positions, CNBC reported on October 14.
Trading volume exceeded seven times its 30-day average. Nearly 200,000 puts traded against about 106,000 calls, while options volume in Nebius approached four times normal levels and IREN reached twice its usual level.
One position opened around 10 a.m. Eastern time involved 26,000 December 18 puts with a $37.50 strike. They traded near the ask, suggesting a purchase, according to SpotGamma data cited by CNBC.
The contracts cost about 74 cents each, or $1.9 million in total. CNBC reported that the stock would need to fall roughly another 42% over two months for the position to pay off. Previous open interest at that strike was just over 1,000 contracts.
AI, tech, and the markets they move—in one daily briefing.
Daily. Free. Join 34,000+ readers across crypto, finance, and policy.
Prosper Trading Academy CEO Scott Bauer described the position as a possible hedge against correlated AI stocks or the Nasdaq. The trader’s identity and purpose were not established in the report.
The selling came as CoreWeave bond yields approached 15%, intensifying scrutiny of AI infrastructure financing. Nebius and IREN also fell as much as 10% during the session. CoreWeave went public in March 2025 at $40 a share.