---
title: Leopold low 2.0?
description: "Leopold reportedly loaded up on CoreWeave and other AI-related calls in early September, just weeks before the latest selloff.\n\nConsider the CRWV November $95 call, which has collapsed from a high of $18 to just $1 since September 8. None knows the specific options Leopold bought, but this contract carries substantial open interest.\n\nThe options unwind may also have amplified the selloff. Dealers who initially bought delta to hedge call exposure may subsequently have been forced to sell as those calls lost value, adding further pressure to the underlying stocks.\n\nMeanwhile, DRAM has crashed back to the Leopold lows, while CRWV is as oversold as during the initial selloff.\n\nWith positioning washed out, options crushed, and technicals deeply oversold, could this be a buying opportunity? \n\nSource: TME"
---

[Syz The Moment](https://blog.syzgroup.com/syz-the-moment)

# [Leopold low 2.0?](https://blog.syzgroup.com/syz-the-moment/leopold-low-2.0)

 Written by [Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/syz-the-moment/author/charles-henry-monchau) | Oct 16, 2026, 3:49:23 PM

[View full post](https://blog.syzgroup.com/syz-the-moment/leopold-low-2.0)

```json
{
  "@context" : "http://schema.org",
  "@type" : "BlogPosting",
  "author" : {
    "@type" : "Person",
    "name" : "Charles-Henry Monchau, CFA, CMT, CAIA"
  },
  "dateModified" : "2026-10-16T15:49:23.585Z",
  "datePublished" : "2026-10-16T15:49:23Z",
  "headline" : "Leopold low 2.0?",
  "image" : {
    "@type" : "ImageObject",
    "height" : 853,
    "url" : "https://25733253.fs1.hubspotusercontent-eu1.net/hubfs/25733253/1792128324329.jpg",
    "width" : 1280
  },
  "mainEntityOfPage" : "https://blog.syzgroup.com/syz-the-moment/leopold-low-2.0",
  "publisher" : {
    "@type" : "Organization",
    "logo" : {
      "@type" : "ImageObject",
      "height" : 60,
      "url" : "/hs/hsstatic/content_shared_assets/static-1.4092/img/default-amp-logo.png",
      "width" : 60
    },
    "name" : "Syz The Moment"
  }
}
```