CoreWeave (NASDAQ:CRWV) is leading AI infrastructure stocks lower this morning, last seen down 8.4% at $82.69. Over the weekend, Anthropic CEO Dario Amodei penned an essay urging companies to slow their AI innovation. Tesla (TSLA) CEO Elon Musk and OpenAI CEO Sam Altman echoed Amodei's comments. Software, memory, semiconductor, and AI-adjacent names are all selling off.
CoreWeave stock is up 24% year to date, though the shares are well off their July 29, one-year low of $60.55. The equity's June 20, 2025 record high of $183.58 is also far out of reach, with the shares' most recent breakout attempts thwarted by the $120 ceiling.
Options traders are leaning into puts, per the stock's 10-day put/call volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which sits in the 96th percentile of its annual range. In other words, while calls are still outflanking puts on an absolute basis, the high percentile hints at a healthier-than-usual appetite for bearish bets of late.
Options on CoreWeave stock are looking affordable. Specifically, the stock's Schaeffer's Volatility Index (SVI) of 72%, which sits higher than just 7% of readings from the last year.
