Deep-pocketed investors have adopted a bearish approach towards Iris Energy IREN, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in IREN usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 17 extraordinary options activities for Iris Energy. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 29% leaning bullish and 47% bearish. Among these notable options, 8 are puts, totaling $2,146,613, and 9 are calls, amounting to $716,530.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $2.5 to $12.0 for Iris Energy over the last 3 months.
Insights into Volume & Open Interest
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 $2.5 to $12.0 over the preceding 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 | PUT | SWEEP | BEARISH | 01/16/26 | $4.9 | $4.7 | $4.9 | $10.00 | $735.1K | 25.6K | 3.1K |
| IREN | PUT | TRADE | BEARISH | 01/16/26 | $4.9 | $4.7 | $4.9 | $10.00 | $661.9K | 25.6K | 1.5K |
| IREN | PUT | SWEEP | BULLISH | 05/16/25 | $4.2 | $3.9 | $4.0 | $10.00 | $461.6K | 24 | 0 |
| IREN | CALL | SWEEP | BEARISH | 05/16/25 | $2.45 | $2.25 | $2.25 | $10.00 | $338.1K | 509 | 1.5K |
| IREN | PUT | SWEEP | BULLISH | 01/16/26 | $5.0 | $4.8 | $4.8 | $10.00 | $71.7K | 25.6K | 174 |
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.
Current Position of Iris Energy
- With a trading volume of 11,215,173, the price of IREN is up by 1.94%, reaching $7.87.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 53 days from now.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.
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.
