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IREN

IREN LIMITEDClose $59.77EOD only
Max Pain
$50.00
Next expiry Jun 18, 2026
Expected Move
±$6.33
10.6% from close
Price Gap
-9.77
Distance to max pain
IV Rank
90
High premium
P/C OI
0.92
Balanced positioning
Consensus
7.0/10
Bullish tilt
Published snapshot: Jun 12, 2026 close
End-of-day snapshot

This page reflects IREN options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot
Jun 12, 2026 close
IREN Directional Report
Analysis based on market close June 12, 2026
DirectionalTheta GangFlowEarningsConsensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

Outlook

Neutral-bullish thesis: GEX positive supports pinning near $56, but spot above MP and mixed flow cap upside. Event-specific hold through weekly expiry.

Confidence:
8 / 10
Base 5, +2 GEX/flow, +1 GEX pinning, -1 spot above MP, +1 VIX -> net 8. No override.
Supports: Strong GEX/flow alignment, positive gamma pinning.
Conflicts: Spot above MP, mixed flow, wide range.
📌GEX +$83.7M positive, pinning near $56
⚠️Spot 6.7% above MP, risk of reversion
📈VIX 17.68 supports premium selling

Regime Classification

Vol Regime
High
High: IV elevated vs typical.
Gamma Regime
Pinning
Pinning: GEX +$83.7M, gamma flip $43 far below.
Flow Regime
Mixed
Mixed: net premium balanced.
Spot vs Max Pain
Above
Above MP $56.
Thesis duration: Event-specific — Weekly expiry and gamma pinning near max pain.

Price Range Forecast

Next 1 week
$53.45$66.10
Pinning ~$56, range $54-$58
Next 2 weeks
$50.20$69.35
GEX support, range $50.20-$69.35

Key Levels

Max pain pins: $56 (2026-06-12); $50 (2026-06-18); $57 (2026-06-26)
EM guardrails: 1w $53.45/$66.10
Support: $56.00 · $50.20
Resistance: $60.00 · $61.00 · $65.00
Gamma flip: ~$43.00 — Approx — based on put OI concentration of 30,542 (28.1% below spot)
Structural: Support $56, $50.20; resistance $60, $61, $65; EM guardrails $54-$58/$50.20-$69.35; gamma flip ~$43.

Dealer Positioning (GEX/DEX)

GEX: $+83.7M

DEX: +67.7M shares

Gamma flip: ~$43 (Approx — based on put OI concentration of 30,542 (28.1% below spot))

NTM gamma: GEX +$83.7M, DEX +67.7M; positive gamma pinning near $56-$57; flip at $43.

IV Analysis

IV vs VIX: Rich vs VIX 17.68

Term structure: Backwardated for weekly

Skew: Put skew elevated; sell puts near support

Flow Analysis

Net premium: Net premium $45.3M positive, P/C vol ratio 0.85 favors calls.

Directional prints: 99.3 call 73 OTM 2026-06-18 — Vol/OI 16.1, high activity in OTM call, likely bought for bullish bet. 96 call 62 OTM 2026-06-18 — Vol/OI 5.0, moderate OTM call volume, suggests bullish positioning. 134.2 call 31 ITM 2026-09-18 — Vol/OI 3.9, deep ITM call, long-term bullish view, likely bought.

Unusual: 98.7 put 61 ITM 2026-06-26 — Vol/OI 16.9, unusually high put volume, ITM, likely hedging or bearish. 99.3 put 57 OTM 2026-06-26 — Vol/OI 16.8, unusually high OTM put activity, bearish speculation. 99.3 call 73 OTM 2026-06-18 — Vol/OI 16.1, high OTM call volume, unusual, likely aggressive bullish.

Risks & Catalysts

!Spot above MP risks pinning failure
!Mixed flow and high vol add uncertainty
!Wide range increases breakout risk

Strategy Viability

StrategyEdgeBest SetupPrimary Risk
Put credit spreadModerate
Sell 2026-09-18 $55.00/$49.00 put spread
Why now: Positive net premium and high call flow favor credit; defined risk.
Spot above MP could fail to pin; max loss on spread if bearish break.
Bull call spreadWeak
Buy 2026-09-18 $60.00/$70.00 call spread
Why now: Call OI buildup at 60 supports bullish bias; defined risk debit.
Time decay and IV contraction if no directional move; max loss is debit.

Top Plays

#1
Bull Call Spread
Buy 2026-09-18 $60.00/$70.00 call spread
Bullish bet on IREN with limited risk, capitalizing on call activity and positive net premium.
Why this play: Highest alignment with bullish call flow and OI buildup at 60; defined risk debit suits neutral-bullish thesis.
Debit: $3.24-$3.96
Max loss: $3.96
BE: $63.96
Mgmt: Target 70; stop loss if below 56.
Traders expecting gradual upside, event-specific hold.
#2
Put Credit Spread
Sell 2026-09-18 $55.00/$49.00 put spread
Neutral-bullish credit play with high probability, earns premium if price stays above 55.
Why this play: Credit collection with defined risk, but less directional conviction than call spread.
Credit: $2.68-$3.27
Max loss: $2.73
BE: $51.73
Mgmt: Hold through weekly expiry; roll if price breaches 56.
Income-focused traders, limited downside tolerance.

Watchlist Triggers

Entry Triggers
IFIF IREN spot holds above $56.00 support and closes above $58.00 for 1 day → THEN enter Bull Call Spread: buy 2026-09-18 $60/$70 call spread
IFIF IREN spot remains above $55.00 (put credit spread short strike) with invalidation $56.00 intact → THEN enter Put Credit Spread: sell 2026-09-18 $55/$49 put spread
Exit Triggers
EXITIF IREN spot breaks below $56.00 → THEN exit both Bull Call Spread and Put Credit Spread positions immediately

Tactical Summary

Neutral-bullish bias with earnings in 76 days. Spot above MP but mixed flow and high vol cap upside. Favored plays: Bull Call Spread (60/70) and Put Credit Spread (55/49). Key level $56 support; invalidation below $56. Manage for weekly expiry.
How to Use These Reports
This directional reflects the market close on June 12, 2026.
What the reports do

Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.

How traders use them

Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.

What to remember

These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.

If the report conviction and the raw data disagree, slow down and resolve the mismatch before sizing risk.