Magnetar discloses paired calls and puts covering CRWV shares
Rhea-AI Filing Summary
CoreWeave (CRWV) insiders disclosed a multi‑fund collar arrangement covering Class A common stock. The filing reports several paired call and put option series written and purchased on 08/15/2025 with strikes at $135 and $140 for calls and $80 for puts, all expiring 03/20/2026. Each series references specific underlying share amounts, including positions of 171,757; 251,428; 295,575; 235,802; 154,956; 124,828; 66,784; 26,154 and other similar lots. The securities are held directly by named Magnetar funds and reported indirectly by Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC and David J. Snyderman, who disclaim beneficial ownership except for pecuniary interest. The filing explains only one option can be in‑the‑money at expiration and the in‑the‑money option will be settled in shares.
Positive
- Clear disclosure of a collar strategy (written calls paired with purchased puts) including strike prices and expiration dates
- Identification of direct holders (specific Magnetar funds) and the reporting chain through adviser and manager entities, aiding transparency
Negative
- None.
Insights
TL;DR: Disclosure shows material option collars across multiple Magnetar funds, indicating a hedged equity position without immediate share transfers.
The filing documents paired written calls and purchased puts (collars) across multiple large lot sizes with strikes at $135 and $140 (calls) and $80 (puts), all expiring 03/20/2026. These positions are held directly by specific Magnetar funds and disclosed indirectly by affiliated entities and an individual manager. For investors, this clarifies that the economic exposure is hedged and that settlement will be share‑based if an option finishes in‑the‑money. The report provides specific lot sizes by series but does not state an aggregate economic value or percent ownership of the company.
TL;DR: The filing fulfills Section 16 transparency for related‑party positions and clarifies reporting lines among adviser, funds, and managers.
The disclosure identifies Magnetar Financial as adviser to multiple funds and shows the ownership chain through Magnetar Capital Partners, Supernova Management and David J. Snyderman, with standard disclaimers of beneficial ownership except for pecuniary interest. The explanation of the collar mechanism and direct holders meets disclosure requirements. The filing does not allege any change in board or executive roles; it is a transactional disclosure rather than a governance event.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Call option (obligation to sell) | 171,757 | $386,451.00 | $66.38B |
| Purchase | Put option (right to sell) | 171,757 | $429,390.00 | $73.75B |
| Sale | Call option (obligation to sell) | 171,756 | $128,817.00 | $22.13B |
| Purchase | Put option (right to sell) | 171,756 | $429,390.00 | $73.75B |
| Sale | Call option (obligation to sell) | 251,428 | $565,714.80 | $142.24B |
| Purchase | Put option (right to sell) | 251,428 | $628,572.00 | $158.04B |
| Sale | Call option (obligation to sell) | 251,429 | $188,571.60 | $47.41B |
| Purchase | Put option (right to sell) | 251,429 | $628,572.00 | $158.04B |
| Sale | Call option (obligation to sell) | 154,956 | $348,651.00 | $54.03B |
| Purchase | Put option (right to sell) | 154,956 | $387,390.00 | $60.03B |
| Sale | Call option (obligation to sell) | 154,956 | $116,217.00 | $18.01B |
| Purchase | Put option (right to sell) | 154,956 | $387,390.00 | $60.03B |
| Sale | Call option (obligation to sell) | 66,783 | $150,264.00 | $10.04B |
| Purchase | Put option (right to sell) | 66,783 | $166,960.00 | $11.15B |
| Sale | Call option (obligation to sell) | 66,784 | $50,088.00 | $3.35B |
| Purchase | Put option (right to sell) | 66,784 | $166,960.00 | $11.15B |
| Sale | Call option (obligation to sell) | 295,575 | $665,044.20 | $196.57B |
| Purchase | Put option (right to sell) | 295,575 | $738,938.00 | $218.41B |
| Sale | Call option (obligation to sell) | 295,575 | $221,681.40 | $65.52B |
| Purchase | Put option (right to sell) | 295,575 | $738,938.00 | $218.41B |
| Sale | Call option (obligation to sell) | 124,828 | $280,861.20 | $35.06B |
| Purchase | Put option (right to sell) | 124,828 | $312,068.00 | $38.95B |
| Sale | Call option (obligation to sell) | 124,827 | $93,620.40 | $11.69B |
| Purchase | Put option (right to sell) | 124,827 | $312,068.00 | $38.95B |
| Sale | Call option (obligation to sell) | 26,153 | $58,845.60 | $1.54B |
| Purchase | Put option (right to sell) | 26,153 | $65,384.00 | $1.71B |
| Sale | Call option (obligation to sell) | 26,154 | $19,615.20 | $513.02M |
| Purchase | Put option (right to sell) | 26,154 | $65,384.00 | $1.71B |
| Sale | Call option (obligation to sell) | 235,802 | $530,553.60 | $125.11B |
| Purchase | Put option (right to sell) | 235,802 | $589,504.00 | $139.01B |
Footnotes (1)
- The entity holding the underlying shares of Class A common stock (the "Common Stock") of CoreWeave, Inc. 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 Constellation Master Fund, Ltd, Magnetar Longhorn Fund LP, Magnetar SC Fund Ltd, Magnetar Xing He Master Fund Ltd, Purpose Alternative Credit Fund - F LLC, Purpose Alternative Credit Fund - T LLC, the general partner of Magnetar Structured Credit Fund, LP and the manager of 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 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 Constellation Master Fund, Ltd. These securities are held directly by Magnetar Structured Credit Fund, LP. These securities are held directly by Magnetar Xing He Master Fund Ltd. These securities are held directly by Magnetar SC Fund Ltd. These securities are held directly by Magnetar Longhorn Fund LP. These securities are held directly by Purpose Alternative Credit Fund - F LLC. These securities are held directly by Purpose Alternative Credit Fund - T LLC. These securities are held directly by Magnetar Lake Credit Fund LLC.
