On October 21, 2026, an investor purchased 25,000 call options for CoreWeave stock with a strike price of $85, expiring on March 19, 2027. The total premium for this transaction amounted to approximately $17.05 million, with each contract priced at $6.82. This trade occurred following a period where the company's shares dropped by 25% in a single week.
Additional market activity included a $10.5 million purchase of the same $85 strike contracts and a $14.9 million trade in $80 call options on October 20, 2026. The volume for the $85 contracts was nearly 15 times the existing open interest, indicating the opening of new positions.
CoreWeave faces financial scrutiny with reported debt between $50 billion and $52 billion as of October 2026. Bond yields for the company reached 15% to 16%, while five-year credit default swap spreads peaked at 1,000 to 1,200 basis points before stabilizing.
Goldman Sachs upgraded CoreWeave to Buy on October 19, 2026, highlighting resilient demand. The company reported a revenue backlog of $104.2 billion as of Q2 2026 and maintains a capacity agreement with Nvidia through 2032. Investors are betting that these factors outweigh current debt concerns.
