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 25 uncommon options trades for Iris Energy.
This isn't normal.
The overall sentiment of these big-money traders is split between 24% bullish and 76%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $363,576, and 18 are calls, for a total amount of $1,432,624.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $7.5 and $25.0 for Iris Energy, spanning the last three months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of Iris Energy stands at 9568.85, with a total volume reaching 24,574.00. 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 $7.5 to $25.0, throughout the last 30 days.
Iris Energy Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| IREN | CALL | TRADE | BEARISH | 03/21/25 | $3.9 | $3.7 | $3.72 | $8.00 | $354.1K | 4.3K | 1.0K |
| IREN | CALL | TRADE | BEARISH | 05/16/25 | $3.8 | $3.2 | $3.3 | $10.00 | $164.3K | 6.1K | 686 |
| IREN | CALL | SWEEP | BEARISH | 05/16/25 | $2.95 | $2.9 | $2.9 | $12.00 | $162.1K | 7.4K | 1.8K |
| IREN | PUT | SWEEP | BULLISH | 11/29/24 | $1.7 | $1.6 | $1.62 | $11.50 | $121.5K | 261 | 750 |
| IREN | PUT | SWEEP | BEARISH | 01/17/25 | $3.4 | $3.3 | $3.4 | $12.50 | $90.1K | 38.9K | 913 |
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.
Following our analysis of the options activities associated with Iris Energy, we pivot to a closer look at the company's own performance.
Where Is Iris Energy Standing Right Now?
- Trading volume stands at 13,425,692, with IREN's price down by -4.09%, positioned at $10.44.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 12 days.
Professional Analyst Ratings for Iris Energy
1 market experts have recently issued ratings for this stock, with a consensus target price of $20.0.
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. * Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $20.
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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