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 positions 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.
Today, Benzinga's options scanner spotted 8 options trades for Iris Energy.
This isn't normal.
The overall sentiment of these big-money traders is split between 37% bullish and 62%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $47,470, and 7, calls, for a total amount of $518,930.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $2.5 to $10.0 for Iris Energy during the past quarter.
Analyzing Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Iris Energy's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Iris Energy's whale trades within a strike price range from $2.5 to $10.0 in the last 30 days.
Iris Energy Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| IREN | CALL | TRADE | BEARISH | 01/16/26 | $2.95 | $2.9 | $2.9 | $10.00 | $145.0K | 31.0K | 1.7K |
| IREN | CALL | TRADE | BEARISH | 01/16/26 | $2.95 | $2.9 | $2.9 | $10.00 | $145.0K | 31.0K | 1.2K |
| IREN | CALL | SWEEP | BULLISH | 01/16/26 | $2.95 | $2.8 | $2.9 | $10.00 | $79.7K | 31.0K | 583 |
| IREN | CALL | TRADE | BEARISH | 11/15/24 | $6.0 | $5.0 | $5.3 | $2.50 | $58.3K | 1.6K | 110 |
| IREN | PUT | SWEEP | BEARISH | 01/16/26 | $4.7 | $4.6 | $4.7 | $10.00 | $47.4K | 21.2K | 103 |
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.
Having examined the options trading patterns of Iris Energy, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Iris Energy
- Currently trading with a volume of 6,508,352, the IREN's price is up by 6.0%, now at $7.68.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 12 days.
Expert Opinions on Iris Energy
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $17.666666666666668.
- An analyst from HC Wainwright & Co. has revised its rating downward to Buy, adjusting the price target to $15.
- An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $23.
- An analyst from Canaccord Genuity persists with their Buy rating on Iris Energy, maintaining a target price of $15.
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.
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