CoreWeave (CRWV) Magnetar collar options on Class A shares expire unexercised
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
CoreWeave, Inc. reported a large derivative collar on its Class A common stock expiring without being exercised. Magnetar-managed funds held paired put options with a strike price of $82.50 and call options with a strike price of $200.00 on multiple blocks of shares.
According to the filing, these options, entered into on September 10, 2025 as part of a collar arrangement, expired unexercised and for no value on June 18, 2026 because the closing share price was between the put and call strikes. The positions were held indirectly through Magnetar Funds such as CW Opportunity 2 LP and CW Opportunity LLC. Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC and David J. Snyderman each disclaim beneficial ownership of the issuer’s common stock except to the extent of any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
24 transactions reported
Mixed
24 txns
Insider
Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC, Snyderman David J.
Role
null | null | null | null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| E | Call option (obligation to sell) | 91,114 | $0.00 | -- |
| E | Put option (right to sell) | 91,114 | $0.00 | -- |
| E | Call option (obligation to sell) | 414,002 | $0.00 | -- |
| E | Put option (right to sell) | 414,002 | $0.00 | -- |
| E | Call option (obligation to sell) | 54,277 | $0.00 | -- |
| E | Put option (right to sell) | 54,277 | $0.00 | -- |
| E | Call option (obligation to sell) | 5,612 | $0.00 | -- |
| E | Put option (right to sell) | 5,612 | $0.00 | -- |
| E | Call option (obligation to sell) | 120,993 | $0.00 | -- |
| E | Put option (right to sell) | 120,993 | $0.00 | -- |
| E | Call option (obligation to sell) | 166,109 | $0.00 | -- |
| E | Put option (right to sell) | 166,109 | $0.00 | -- |
| E | Call option (obligation to sell) | 208,216 | $0.00 | -- |
| E | Put option (right to sell) | 208,216 | $0.00 | -- |
| E | Call option (obligation to sell) | 47,045 | $0.00 | -- |
| E | Put option (right to sell) | 47,045 | $0.00 | -- |
| E | Call option (obligation to sell) | 177,116 | $0.00 | -- |
| E | Put option (right to sell) | 177,116 | $0.00 | -- |
| E | Call option (obligation to sell) | 109,158 | $0.00 | -- |
| E | Put option (right to sell) | 109,158 | $0.00 | -- |
| E | Call option (obligation to sell) | 87,934 | $0.00 | -- |
| E | Put option (right to sell) | 87,934 | $0.00 | -- |
| E | Call option (obligation to sell) | 18,424 | $0.00 | -- |
| E | Put option (right to sell) | 18,424 | $0.00 | -- |
Holdings After Transaction:
Call option (obligation to sell) — 0 shares (Indirect, Footnotes);
Put option (right to sell) — 0 shares (Indirect, Footnotes)
Footnotes (1)
- In connection with the expiration of a call option and a put option entered into on September 10, 2025, as part of a collar arrangement, both options expired unexercised and for no value on June 18, 2026, as the closing price of the Class A Common Stock on such date was between the call strike price and the put strike price. Magnetar Financial LLC ("Magnetar Financial") serves as the investment adviser to each of CW Opportunity 2 LP, CW Opportunity LLC, Magnetar Capital Master Fund, Ltd, Magnetar Constellation Master Fund, Ltd, Magnetar Longhorn Fund LP, Magnetar SC Fund Ltd, Magnetar Xing He Master Fund Ltd, Purpose Alternative Credit Fund - F LLC, and Purpose Alternative Credit Fund - T LLC, the general partner of Magnetar Structured Credit Fund, LP DBA Magnetar Constellation Onshore Fund (They are not separate legal entities), and the manager of Magnetar Alpha Star Fund LLC and Magnetar Lake Credit Fund 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 administrative 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 CW Opportunity 2 LP. These securities are held directly by CW Opportunity LLC. These securities are held directly by Magnetar Alpha Star Fund LLC. These securities are held directly by Magnetar Capital Master Fund, Ltd. These securities are held directly by Magnetar Constellation Master Fund, Ltd. These securities are held directly by Magnetar Lake Credit Fund LLC. These securities are held directly by Magnetar Longhorn Fund LP. These securities are held directly by Magnetar SC Fund Ltd. These securities are held directly by Magnetar Structured Credit Fund, LP DBA Magnetar Constellation Onshore Fund (They are not separate legal entities). 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. Expiration of a long derivative security for no value, transaction code "K" only.
Key Figures
Put option strike price: $82.50/share
Call option strike price: $200.00/share
Largest underlying share block: 414,002 shares
+3 more
6 metrics
Put option strike price
$82.50/share
Strike price on CoreWeave Class A put options in collar
Call option strike price
$200.00/share
Strike price on CoreWeave Class A call options in collar
Largest underlying share block
414,002 shares
Underlying CoreWeave Class A shares for one put and call option leg
Another underlying share block
208,216 shares
Underlying CoreWeave Class A shares for one put and call option leg
Derivative transactions reported
24 transactions
Total derivative records, all expirations of options in collar
Expiration date
June 18, 2026
Date on which all collar options expired unexercised
Key Terms
collar arrangement, investment adviser, parent holding company, beneficial ownership, +2 more
6 terms
collar arrangement financial
"entered into on September 10, 2025, as part of a collar arrangement, both options expired unexercised"
investment adviser financial
"Magnetar Financial LLC ("Magnetar Financial") serves as the investment adviser to each of CW Opportunity 2 LP"
An investment adviser is a person or firm that professionally manages money and gives recommendations about buying, selling, or holding investments. Like a financial coach or guide, they have a legal duty to act in a client's best financial interest, so their advice, fees and potential conflicts can directly affect returns and risk — making their role important for investors who want informed, accountable help with portfolios.
parent holding company financial
"Magnetar Capital Partners LP ("Magnetar Capital Partners") is the sole member and parent holding company of Magnetar Financial."
beneficial ownership financial
"disclaims beneficial ownership of these shares of Common Stock of the Issuer, except to the extent of its or his pecuniary interest"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"disclaims beneficial ownership of these shares of Common Stock of the Issuer, except to the extent of its or his pecuniary interest therein."
derivative security financial
"Expiration of a long derivative security for no value, transaction code "K" only."
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
FAQ
What did the CoreWeave (CRWV) Form 4 filed by Magnetar report?
The Form 4 reports the expiration of a collar of derivative options on CoreWeave Class A common stock. Put and call options linked to various share blocks expired unexercised and for no value on June 18, 2026, rather than resulting in stock transactions.
What options were involved in the CoreWeave collar reported by Magnetar?
The collar combined put and call options on CoreWeave Class A common stock. Footnotes describe put options with a strike price of $82.50 and call options with a strike price of $200.00, each tied to specific underlying share amounts, all expiring on June 18, 2026.
Why did the CoreWeave collar options expire for no value?
The options expired for no value because CoreWeave’s closing stock price was between the put and call strike prices. In that situation, neither the right to sell at the lower strike nor the obligation to sell at the higher strike is exercised, so both options lapse worthless.
Who actually held the CoreWeave derivative positions in the collar?
The positions were held by various Magnetar Funds, not by the advisers personally. Footnotes state the securities were directly held by entities such as CW Opportunity 2 LP and CW Opportunity LLC, while Magnetar Financial and related entities acted as adviser or parent entities.