Neocloud stocks tumbled on Wednesday, with CoreWeave falling 15% after the Nvidia-backed company’s bond yields hit 15%. Options volume in CoreWeave surged to more than seven times its 30-day average, with roughly 200,000 puts purchased versus only 106,000 calls. One trader notably bought 26,000 37.5-strike puts expiring December 18 for $1.9 million, described as bubble puts by Scott Bauer, CEO of Prosper Trading Academy. These contracts require the stock to fall another 42% over the next two months to be profitable. CoreWeave, which IPO’d at $40 per share in March 2025, sits at the center of the broader AI trade.
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