Financial giants have made a conspicuous bearish move on Iris Energy. Our analysis of options history for Iris Energy IREN revealed 10 unusual trades.
Delving into the details, we found 20% of traders were bullish, while 80% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $915,000, and 6 were calls, valued at $349,302.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $3.0 and $10.0 for Iris Energy, spanning the last three 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 $3.0 to $10.0 over the preceding 30 days.
Iris Energy 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| IREN | PUT | TRADE | BEARISH | 11/15/24 | $10.00 | $290.0K | 3.3K | 1.0K |
| IREN | PUT | TRADE | BEARISH | 11/15/24 | $10.00 | $290.0K | 3.3K | 500 |
| IREN | PUT | TRADE | NEUTRAL | 08/16/24 | $7.50 | $201.0K | 11.6K | 600 |
| IREN | PUT | TRADE | BEARISH | 08/16/24 | $7.50 | $134.0K | 11.6K | 1.0K |
| IREN | CALL | TRADE | BEARISH | 05/17/24 | $3.00 | $104.0K | 838 | 402 |
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.
Iris Energy's Current Market Status
- Trading volume stands at 7,571,750, with IREN's price up by 1.19%, positioned at $5.11.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 11 days.
What Analysts Are Saying About Iris Energy
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $9.5.
- An analyst from B. Riley Securities persists with their Buy rating on Iris Energy, maintaining a target price of $9.
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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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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