Deep-pocketed investors have taken a bullish approach to Iris Energy IRENand this is something that market participants should not ignore. Our tracking of Benzinga’s public options filings today revealed this important move. The identities of these investors remain unknown, but such a big move at IREN usually suggests that something big is about to happen.

We gleaned this information from our observations today when Benzinga’s options scanner highlighted 50 extraordinary options activities for Iris Energy. This level of activity is extraordinary.

The general mood among these heavyweight investors is split, with 48% of them optimistic and 40% bearish. Of these notable options, 11 are puts, totaling $3,743,410, and 39 are calls, totaling $1,843,616.

Projected Price Targets

Analyzing the volume and open interest in these contracts, it appears that the big players are looking at a price window of $6.0 to $25.0 for Iris Energy over the past quarter.

Volume and Open Interest Trends

In terms of liquidity and interest, the average open interest for Iris Energy options trades today is 9,744.15 with total volume of 62,284.00.

In the following chart, we are able to track the volume and open interest of call and put options for Iris Energy’s large trades within a strike price range of $6.0 at $25.0 in the last 30 days.

Iris Energy options volume and open interest over the last 30 days

Notable Options Activity:

About Iris Énergie

Iris Energy Ltd is a Bitcoin mining company. It builds, owns and operates data centers and power infrastructure for Bitcoin mining 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 by exchanging these Bitcoins daily for currencies such as USD or CAD.

Following our analysis of the options business associated with Iris Energy, we take a closer look at the company’s performance.

Current position of Iris Energy

• With a trading volume of 16,299,504, IREN price is up 10.83%, reaching $12.18.
• Current RSI values ​​indicate that the stock may be on the verge of being overbought.
• The next earnings report is due in 11 days.

What the experts say about Iris Energy

A total of 1 professional analysts have given their opinion on this stock over the last 30 days, setting an average price target of $20.0.

Turn $1,000 into $1,270 in just 20 days?

A professional options trader of 20 years reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which averaged a 27% profit every 20 days. Click here to access it. * Reflecting concerns, a Cantor Fitzgerald analyst lowers his rating to Overweight with a new price target of $20.

Options trading involves higher risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trading adjustments, the use of various indicators, and staying in tune with market dynamics. Keep up to date with the latest options trades for Iris Energy with BenzingaPro for real-time alerts.