High-rolling investors have positioned themselves bullish 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 50% bullish and 33% bearish. Among all the options we identified, there was one put, amounting to $58,937, and 11 calls, totaling $699,717.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $9.0 to $15.0 for Iris Energy during the past quarter.
Analyzing 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 $9.0 to $15.0 in the last 30 days.
Iris Energy Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| IREN | CALL | SWEEP | BEARISH | 02/21/25 | $3.9 | $3.7 | $3.7 | $9.00 | $108.0K | 504 | 293 |
| IREN | CALL | TRADE | BULLISH | 01/16/26 | $3.6 | $3.5 | $3.6 | $15.00 | $108.0K | 12.0K | 402 |
| IREN | CALL | SWEEP | BULLISH | 01/16/26 | $4.6 | $4.2 | $4.6 | $10.00 | $92.0K | 33.1K | 221 |
| IREN | CALL | TRADE | NEUTRAL | 01/17/25 | $1.95 | $1.85 | $1.9 | $15.00 | $76.9K | 18.0K | 437 |
| IREN | CALL | SWEEP | BEARISH | 01/17/25 | $1.9 | $1.8 | $1.8 | $15.00 | $69.3K | 18.0K | 1.5K |
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.
Present Market Standing of Iris Energy
- With a volume of 6,775,979, the price of IREN is down -7.7% at $9.29.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 12 days.
What The Experts Say On Iris Energy
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $19.2.
- An analyst from B. Riley Securities has decided to maintain their Buy rating on Iris Energy, which currently sits at a price target of $17.
- Maintaining their stance, an analyst from Canaccord Genuity continues to hold a Buy rating for Iris Energy, targeting a price of $15.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $23.
- In a cautious move, an analyst from HC Wainwright & Co. downgraded its rating to Buy, setting a price target of $15.
- In a cautious move, an analyst from Bernstein downgraded its rating to Outperform, setting a price target of $26.
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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