- CoreWeave's bonds hit a 15% yield, and Chamath Palihapitiya raised questions about a private credit bubble on X. CoreWeave stock fell 15% and Nebius Group fell as much as 10%.
- Traders bought just shy of 200,000 CoreWeave puts against 106,000 calls. Options volume in CoreWeave reached more than seven times its 30-day average, Nebius almost four times, and Iren twice.
- A new position of 26,000 CoreWeave 37.5-strike puts expiring Dec. 18 traded near the ask at 74 cents apiece, for a total of $1.9 million, according to SpotGamma data. CoreWeave must fall another 42% over two months for the puts to pay off.
Quotes
“These are bubble puts”
“This is the hub, the center of the AI trade”