Magnetar entities place covered-call/put collar on 71,838 CRWV shares
Rhea-AI Filing Summary
Magnetar reporting persons disclosed a collar entered on 09/30/2025 over shares of CoreWeave, Inc. (CRWV). The arrangement consists of written covered call options with a $200 strike and purchased put options with a $115 strike, each set to expire on 06/18/2026. The filing shows three option lots covering 36,386, 29,311 and 6,141 underlying Class A shares, totaling 71,838 shares held indirectly by Magnetar funds. Only one side of the collar can be in-the-money at expiration; the in-the-money option will be exercised and settled in shares, and the other will expire. Reporting parties include Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC and David J. Snyderman.
Positive
- 71,838 shares are covered by a documented collar arrangement, showing explicit risk management actions
- Options are paired with the same 06/18/2026 expiration, simplifying expiration event outcomes
Negative
- The collar may result in share settlement at expiration, potentially transferring up to 71,838 Class A shares
- Form 4 does not disclose option premiums or counterparty, leaving incomplete financial impact details
Insights
Magnetar placed a collar on 71,838 CRWV shares expiring 06/18/2026
The Form 4 records a covered-call/write and protective-put purchase entered 09/30/2025 with call strikes at $200 and put strikes at $115. The filing explicitly states that only the in-the-money option will be exercised and settled in shares at expiration.
All holdings are reported as indirect and held by Magnetar funds, with standard disclaimers of beneficial ownership except for pecuniary interest. This is a governance- and ownership-disclosure event showing option-based hedging executed by a significant owner.
Transaction details: collar with strikes at $200/$115, total underlying 71,838 shares
The report lists three paired call/put lots: 36,386, 29,311, and 6,141 underlying Class A shares. Each option set shares the same expiration date 06/18/2026 and was transacted on 09/30/2025. The Form 4 shows option settlement will be in shares when exercised.
This disclosure identifies the precise notional exposure and strikes; the filing does not provide premium paid/received or counterparty details.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Call option (obligation to sell) | 36,386 | $764,106.00 | $27.80B |
| Purchase | Put option (right to sell) | 36,386 | $836,878.00 | $30.45B |
| Sale | Call option (obligation to sell) | 29,311 | $615,531.00 | $18.04B |
| Purchase | Put option (right to sell) | 29,311 | $674,153.00 | $19.76B |
| Sale | Call option (obligation to sell) | 6,141 | $128,961.00 | $791.95M |
| Purchase | Put option (right to sell) | 6,141 | $141,243.00 | $867.37M |
Footnotes (1)
- The entity holding the underlying shares of Class A common stock (the "Common Stock") of the Issuer entered into a collar arrangement pursuant to which such entity wrote a covered call option and purchased a put option. Only one of the options can be in-the-money on the expiration date, at which time the in-the-money option will be exercised and settled in shares and the other option will expire. If neither option is in-the-money on the expiration date, both options will expire. Magnetar Financial LLC ("Magnetar Financial") serves as the investment adviser to each of Magnetar Xing He Master Fund Ltd, Purpose Alternative Credit Fund - F LLC and Purpose Alternative Credit Fund - T LLC (collectively, the "Magnetar Funds"). Magnetar Capital Partners LP ("Magnetar Capital Partners") is the sole member and parent holding company of Magnetar Financial. Supernova Management LLC ("Supernova Management") is the general partner of Magnetar Capital Partners. The manager of Supernova Management is David J. Snyderman, a citizen of the United States of America. Each of the Magnetar Funds, Magnetar Financial, Magnetar Capital Partners, Supernova Management and David J. Snyderman disclaims beneficial ownership of these shares of Common Stock of the Issuer, except to the extent of its or his pecuniary interest therein. These securities are held directly by Magnetar Xing He Master Fund Ltd. These securities are held directly by Purpose Alternative Credit Fund - F LLC. These securities are held directly by Purpose Alternative Credit Fund - T LLC.
