High-rolling investors have positioned themselves bearish on Iris Energy IREN, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in IREN often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 12 options trades for Iris Energy. This is not a typical pattern.
The sentiment among these major traders is split, with 33% bullish and 66% bearish. Among all the options we identified, there was one put, amounting to $89,700, and 11 calls, totaling $483,780.
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Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $5.0 to $17.5 for Iris Energy over the recent three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Iris Energy options trades today is 4523.4 with a total volume of 12,934.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Iris Energy's big money trades within a strike price range of $5.0 to $17.5 over 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 | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| IREN | CALL | SWEEP | BEARISH | 08/16/24 | $10.00 | $108.1K | 16.3K | 795 |
| IREN | PUT | SWEEP | BEARISH | 02/16/24 | $8.00 | $89.7K | 408 | 1.0K |
| IREN | CALL | TRADE | BEARISH | 08/16/24 | $10.00 | $69.4K | 16.3K | 1.7K |
| IREN | CALL | SWEEP | BEARISH | 02/16/24 | $7.50 | $48.7K | 6.0K | 1.0K |
| IREN | CALL | SWEEP | BEARISH | 08/16/24 | $10.00 | $41.1K | 16.3K | 1.3K |
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.
In light of the recent options history for Iris Energy, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Iris Energy's Current Market Status
- Currently trading with a volume of 12,743,227, the IREN's price is up by 2.41%, now at $8.5.
- RSI readings suggest the stock is currently may be overbought.
- Anticipated earnings release is in 0 days.
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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