Investors with a lot of money to spend have taken a bearish 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 20 uncommon options trades for Iris Energy.
This isn't normal.
The overall sentiment of these big-money traders is split between 20% bullish and 80%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $186,360, and 17 are calls, for a total amount of $1,175,706.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $5.0 to $20.0 for Iris Energy during the past quarter.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Iris Energy's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Iris Energy's substantial trades, within a strike price spectrum from $5.0 to $20.0 over the preceding 30 days.
Iris Energy 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| IREN | CALL | SWEEP | BEARISH | 01/17/25 | $10.2 | $9.8 | $9.7 | $5.00 | $193.9K | 2.7K | 11 |
| IREN | CALL | SWEEP | BEARISH | 08/16/24 | $3.4 | $3.2 | $3.2 | $12.50 | $159.8K | 14.1K | 315 |
| IREN | CALL | SWEEP | BEARISH | 01/16/26 | $5.0 | $4.6 | $4.6 | $20.00 | $159.1K | 3.6K | 117 |
| IREN | CALL | SWEEP | BEARISH | 01/16/26 | $4.8 | $4.2 | $4.2 | $20.00 | $110.4K | 3.6K | 495 |
| IREN | CALL | SWEEP | BEARISH | 01/17/25 | $10.2 | $9.7 | $9.74 | $5.00 | $97.5K | 2.7K | 211 |
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.
After a thorough review of the options trading surrounding Iris Energy, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Iris Energy Standing Right Now?
- Trading volume stands at 13,564,563, with IREN's price down by -3.26%, positioned at $14.54.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 27 days.
What Analysts Are Saying About Iris Energy
In the last month, 2 experts released ratings on this stock with an average target price of $20.5.
- An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $23.
- Maintaining their stance, an analyst from B. Riley Securities continues to hold a Buy rating for Iris Energy, targeting a price of $18.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Iris Energy with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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