CRWV wheel: cash-secured put & covered-call yields
CoreWeave, Inc. Class A Common Stock · Technology · $56.60 close on Nov 12, 2026
What the Nov 12, 2026 close says about CRWV
At 91.9% implied volatility, the options market is pricing a one-standard-deviation move of about $16.34 (28.9%) in CRWV by Dec 18, 2026, 36 days out.
Selling the $50 put (−0.28Δ) for $3.48 means assignment would leave a cost basis of $46.52, 17.8% below the $56.60 close.
The 64-day 0.30Δ put pays 1.5× the premium of the 36-day one for 1.8× the time — more premium per day on the 36-day contract ($0.097 vs $0.080).
At 0.30Δ on the Dec 18 expiry the put yields 6.96% on its strike and the call 5.05% on spot: puts pay 1.4× what calls do on CRWV this session.
Moving down to the $45 put (−0.18Δ) buys 8.8% more room below spot and keeps 58% of the 0.30Δ premium.
Open interest in the stored window totals 507,106 contracts; the largest single line is the $30 put expiring Jan 15 with 59,846 (11.8% of the window).
By options volume CRWV ranks #58 of 679 names in our universe.
Near-the-money options volume (14k) is 962% above its 5-session average.
The builder re-quotes every leg from the live chain when it opens; tracking is free to start.
Cash-secured puts on CRWV
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $50 | −0.28 | $3.48 Nov 12 | $348.00 | $5,000 | 6.96% | 70.6% | $46.52 | 13,069 | 4,087 |
| 0.20Δ | $45 | −0.18 | $2.01 Nov 12 | $201.00 | $4,500 | 4.47% | 45.3% | $42.99 | 7,055 | 772 |
Snapshot #9348 · session 2026-11-12 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 36
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $50 | −0.30 | $5.14 Nov 12 | $514.00 | $5,000 | 10.28% | 58.6% | $44.86 | 31,730 | 1,236 |
| 0.20Δ | $45 | −0.21 | $3.27 Nov 12 | $327.00 | $4,500 | 7.27% | 41.4% | $41.73 | 15,407 | 375 |
Snapshot #9348 · session 2026-11-12 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 64
Covered calls on CRWV
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $67.50 | 0.32 | $2.86 Nov 12 | $286.00 | 5.05% | 51.2% | 24.31% | 246.5% | 1,606 | 694 |
| 0.20Δ | $75 | 0.20 | $1.58 Nov 12 | $158.00 | 2.79% | 28.3% | 35.30% | 357.9% | 15,000 | 3,430 |
Snapshot #9348 · session 2026-11-12 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 36
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $72.50 | 0.31 | $3.35 Nov 12 | $335.00 | 5.92% | 33.8% | 34.01% | 194.0% | 4,948 | 52 |
| 0.20Δ | $82.50 | 0.19 | $1.77 Nov 12 | $177.00 | 3.13% | 17.8% | 48.89% | 278.8% | 1,894 | 34 |
Snapshot #9348 · session 2026-11-12 · captured 22:01 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 64
CRWV volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 91.9%session 2026-11-12
- IV rank / IV percentile
- Unavailable1
- Next earnings
- Unavailable2
- Next ex-dividend
- None announcedchecked Nov 9, 2026
- Open interest, stored window
- 507,106 contractssession 2026-11-12
- Largest open-interest line
- $30 put · Jan 15 · 59,846
- Bid/ask spread
- Unavailable3
- Options liquidity rank
- #58 of 679 optionable names by options volume
How these numbers are made
One end-of-day snapshot per session from a 15-minute-delayed feed. A premium is a contract’s last trade, used only if it printed that session, sits above intrinsic value and is in order with its neighbours; deltas are the feed’s own. Expiries are the first at least 30 and 60 days out, and nothing under 30 days is annualized. Not investment advice. Full methodology.
- We are building our own daily implied-volatility history (34 of 252 sessions so far); IV rank and percentile need a full year of it.
- Our data provider does not license announced earnings dates, and we do not publish estimates.
- Our data feed carries last trades, not live bid/ask quotes, so we cannot show a spread.