CRWV Bull Call Spread — 2026-07-17

CRWV (CoreWeave Inc Ordinary Shares - Class A) shows bullish unusual options activity: $3267K of buyer-initiated unusual call flow (100% call-dominant) detected across near-term expirations, with a peak vol/OI ratio of 15.2x on the 90 call. IV rank is 32 (moderate) — a bull call spread (92.5/95) trims theta/vega bleed versus a naked long. Buy the $92.5 / sell the $95 call bull call spread expiring 2026-07-17 (16 DTE) for a net debit of $0.90 ($90 per spread). Breakeven at $93.40; net delta 0.06.

Underlying: CRWV @ ~$98.24 | 2026-07-17 (16 DTE) | Net debit (entry): ~$90 per spread. Use limit orders at the mid or slightly worse.

MAX LOSS: Limited to the net debit ($90 per spread). Max gain is capped at the strike width minus the debit — a defined-risk, defined-reward trade. | IV RISK: IV rank is 32 — reasonable for a debit spread. | TIMING: 16 DTE — unusual flow is a near-term signal; act promptly or the setup may stale. Close or take profit before expiration week to avoid gamma risk. | SECTOR: CRWV is in Other — avoid concentration with other open Other positions. | EXECUTION: Use limit orders at mid or slightly worse on the spread (don't leg in). Verify the bid-ask before sending; do not chase with market orders. | EVENTS: Check for upcoming earnings, FDA decisions, or macro prints within the trade window that could cause outsized gap risk.