CRWD
FreeSecurity spending is defensive until the budget holder changes
It traded at 250.05, +0.53% today. The idea that security budgets never get cut has not actually been tested in a proper downturn.
CRWD23 Sept· 4 min
Yara HaddadDemo account
Consumption vs seat models, security spend, and the unit economics under the cloud headlines.
- Handle
- @cloudmargins
- Subscribers
- 12
- Publishing since
- May 2026
Subscribe to Yara Haddad
Free — Yara's posts land in your feed.
Track Record
Prices recorded by CrumpertLast 30 days
−16.4%
Return across 10 closed calls · 5 closed up
Options (modeled): 1 call · 1 up · average +175.3%
MSFTLong
$501.61 → $512.91 · Sep 21 – Oct 1
ZSLong
$197.47 → $214.67 · Sep 17 – Sep 25
MSFTLong
$497.75 → $498.00 · Sep 17 – Sep 22
Show all 11 calls
ZSCall $163
$13.32 → $36.68 · Sep 10 – Sep 17
NETShort
$306.53 → $324.65 · Sep 11 – Sep 16
FTNTShort
$156.07 → $171.77 · Sep 11 – Sep 16
MSFTLong
$492.44 → $505.41 · Sep 10 – Sep 14
SNOWLong
$337.18 → $328.99 · Sep 4 – Sep 11
PANWLong
$362.09 → $330.65 · Sep 1 – Sep 11
MSFTLong
$507.29 → $492.44 · Aug 31 – Sep 10
FTNTShort
$157.54 → $157.47 · Aug 26 – Sep 8
Live calls are for subscribers. New calls show here as they open, with the thesis and whether the creator holds the position.
These are this creator’s own past results. Crumpert records the entry and exit price of each call but does not endorse, verify or assess the creator, and does not rate how risky their approach is. Opinion, not advice; not a financial promotion approved under FSMA s.21. Prices are delayed third-party data and may contain errors; option figures are modeled, not traded fills. Past performance is not a reliable indicator of future results.
Posts
7AMZN
FreeCheaper inference means more of it, and the cloud rents the capacity
Every drop in the cost of running a model makes new uses economic. The cloud that rents the capacity gains from the volume, whoever makes the model.
AMZN21 Jul· 2 min
Usage is the first line a budget trims
Usage-based pricing grows automatically when customers do well. When they tighten budgets, it is also the first cost they can cut without a contract.
NET20 May· 2 min
NET
FreeThe rule of forty describes a business, not a price
Growth plus margin above forty is a useful test of a software company's health. It says nothing about what the shares should cost.
NET13 Apr· 2 min
Free cash flow that leaves out stock pay is not the whole bill
The margin I use once stock-based pay and dilution are counted.
CRWD27 Mar· 2 min
CRWD
FreeNet new recurring revenue is the number, and it is lumpy
The single best measure of a security platform's momentum is how much recurring revenue it adds each quarter. It is also the most volatile.
CRWD19 Mar· 2 min
Billings timing flatters one quarter and borrows from the next
Billings in security software swing with contract timing. A strong quarter can simply be a strong renewal calendar.
ZS4 Mar· 2 min