Investors with a lot of money to spend have taken a bullish stance on IREN (NASDAQ: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 8 uncommon options trades for IREN.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 37%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $919,340, and 6 are calls, for a total amount of $376,046.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $4.0 to $10.0 for IREN during the past quarter.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for IREN options trades today is 12916.57 with a total volume of 7,553.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for IREN's big money trades within a strike price range of $4.0 to $10.0 over the last 30 days.

IREN Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

About IREN

IREN Ltd is engaged in data center business powering the future of Bitcoin, AI and beyond utilizing renewable energy.

Following our analysis of the options activities associated with IREN, we pivot to a closer look at the company's own performance.

Current Position of IREN

• With a volume of 4,884,044, the price of IREN is down -1.93% at $6.58.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 48 days.

Expert Opinions on IREN

A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $12.0.

Turn $1000 into $1270 in just 20 days?

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for IREN, Benzinga Pro gives you real-time options trades alerts.