Whales with a lot of money to spend have taken a noticeably bullish stance on Iris Energy.
Looking at options history for Iris Energy IREN we detected 15 trades.
If we consider the specifics of each trade, it is accurate to state that 66% of the investors opened trades with bullish expectations and 33% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $555,000 and 13, calls, for a total amount of $605,169.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $3.0 to $7.5 for Iris Energy over the recent three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Iris Energy's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Iris Energy's whale trades within a strike price range from $3.0 to $7.5 in the last 30 days.
Iris Energy 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| IREN | PUT | SWEEP | BEARISH | 08/16/24 | $3.0 | $2.3 | $3.0 | $7.50 | $375.0K | 8.6K | 2.2K |
| IREN | PUT | SWEEP | BULLISH | 08/16/24 | $4.1 | $2.8 | $3.0 | $7.50 | $180.0K | 8.6K | 1.0K |
| IREN | CALL | TRADE | NEUTRAL | 08/16/24 | $1.75 | $1.65 | $1.7 | $7.50 | $106.2K | 23.6K | 1.0K |
| IREN | CALL | TRADE | BULLISH | 04/19/24 | $0.9 | $0.8 | $0.9 | $5.50 | $54.0K | 392 | 647 |
| IREN | CALL | SWEEP | BEARISH | 04/19/24 | $1.05 | $1.0 | $1.0 | $5.50 | $50.0K | 392 | 2.9K |
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.
Present Market Standing of Iris Energy
- With a volume of 11,119,328, the price of IREN is up 12.23% at $6.24.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 12 days.
What The Experts Say On Iris Energy
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $9.7.
- An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $10.
- An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $10.
- An analyst from HC Wainwright & Co. has decided to maintain their Buy rating on Iris Energy, which currently sits at a price target of $10.
- An analyst from B. Riley Securities has decided to maintain their Buy rating on Iris Energy, which currently sits at a price target of $9.
- In a cautious move, an analyst from Canaccord Genuity downgraded its rating to Buy, setting a price target of $9.
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 Iris Energy, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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