Investors with a lot of money to spend have taken a bullish stance on Iris Energy IREN.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with IREN, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 27 uncommon options trades for Iris Energy.
This isn't normal.
The overall sentiment of these big-money traders is split between 59% bullish and 29%, bearish.
Out of all of the special options we uncovered, 9 are puts, for a total amount of $873,750, and 18 are calls, for a total amount of $734,742.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $5.0 to $10.0 for Iris Energy over the recent three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Iris Energy stands at 12539.33, with a total volume reaching 37,684.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Iris Energy, situated within the strike price corridor from $5.0 to $10.0, throughout the last 30 days.
Iris Energy Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| IREN | PUT | SWEEP | BULLISH | 01/16/26 | $5.2 | $4.6 | $4.6 | $10.00 | $417.2K | 29.5K | 2.0K |
| IREN | PUT | SWEEP | BULLISH | 01/16/26 | $4.5 | $4.4 | $4.5 | $10.00 | $95.4K | 29.5K | 2.9K |
| IREN | PUT | SWEEP | BULLISH | 01/16/26 | $5.2 | $4.3 | $4.3 | $10.00 | $84.2K | 29.5K | 3.3K |
| IREN | PUT | SWEEP | BEARISH | 01/16/26 | $4.7 | $3.4 | $4.7 | $10.00 | $73.7K | 29.5K | 920 |
| IREN | PUT | SWEEP | BEARISH | 06/07/24 | $0.7 | $0.65 | $0.7 | $8.00 | $73.2K | 23 | 2 |
About Iris Energy
Iris Energy Ltd is a Bitcoin mining company. It builds, owns, and operates data centers and electrical infrastructure for the mining of Bitcoin powered by renewable energy. The company's mining operations generate revenue by earning Bitcoin through a combination of block rewards and transaction fees from the operation of its specialized computers called Application-specific Integrated Circuits and exchanging these Bitcoin for currencies such as USD or CAD on a daily basis.
In light of the recent options history for Iris Energy, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Iris Energy's Current Market Status
- With a volume of 11,230,481, the price of IREN is up 0.77% at $7.89.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 68 days.
What Analysts Are Saying About Iris Energy
3 market experts have recently issued ratings for this stock, with a consensus target price of $10.333333333333334.
- An analyst from Canaccord Genuity persists with their Buy rating on Iris Energy, maintaining a target price of $9.
- An analyst from Canaccord Genuity has decided to maintain their Buy rating on Iris Energy, which currently sits at a price target of $12.
- In a cautious move, an analyst from HC Wainwright & Co. downgraded its rating to Buy, setting a price target of $10.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Iris Energy options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
