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 17 uncommon options trades for Iris Energy.
This isn't normal.
The overall sentiment of these big-money traders is split between 41% bullish and 52%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $817,500, and 13 are calls, for a total amount of $738,926.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $6.0 to $18.0 for Iris Energy over the recent three months.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Iris Energy's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Iris Energy's significant trades, within a strike price range of $6.0 to $18.0, over the past month.
Iris Energy Call and Put Volume: 30-Day Overview
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 | 01/17/25 | $1.6 | $1.55 | $1.6 | $9.00 | $320.0K | 5.4K | 4.0K |
| IREN | PUT | SWEEP | BULLISH | 01/17/25 | $1.65 | $1.55 | $1.55 | $9.00 | $310.2K | 5.4K | 2.0K |
| IREN | PUT | SWEEP | BULLISH | 01/17/25 | $1.65 | $1.6 | $1.6 | $9.00 | $160.0K | 5.4K | 5.0K |
| IREN | CALL | SWEEP | BULLISH | 05/16/25 | $1.55 | $1.45 | $1.5 | $18.00 | $150.1K | 8.9K | 2.0K |
| IREN | CALL | SWEEP | BEARISH | 05/16/25 | $4.3 | $4.1 | $4.1 | $8.00 | $120.5K | 2.2K | 295 |
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.
Current Position of Iris Energy
- Currently trading with a volume of 10,433,826, the IREN's price is down by -5.15%, now at $9.58.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 5 days.
Expert Opinions on Iris Energy
1 market experts have recently issued ratings for this stock, with a consensus target price of $20.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $20.
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.
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