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IREN

IREN LIMITEDClose $54.72EOD only
Max Pain
$60.00
Next expiry Jun 26, 2026
Expected Move
±$4.82
8.8% from close
Price Gap
+5.28
Distance to max pain
IV Rank
19
Low premium
P/C OI
0.90
Balanced positioning
Consensus
5.5/10
Bullish tilt
Published snapshot: Jun 23, 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 23, 2026 close
IREN Earnings Report
Analysis based on market close June 24, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

IREN earnings 64 days out. High IV, bearish flow, 40% beat rate. Spot below max pain and gamma flip level.

Confidence:
6.5 / 10
base 5; +2 GEX/flow strongly aligned; -1 spot 13.3% from MP; +0.5 VIX 19
Most important: Bearish flow with put/call volume ratio 1.38 and net negative premium; IV term steep contango.
🐻Net premium -$8.4M with put/call volume >1, bearish flow dominant.
⚠️Put skew extreme: $20 put IV 244%, stress pricing in tail risk.
📉Historical beat rate 40% (2/5) adds uncertainty, no edge.

Regime Classification

Vol Regime
High
Gamma Regime
Trending
Flow Regime
Bearish
Spot vs MP
Below
Gamma flip: ~$40.00 — Approx — based on put OI concentration of 40,824 (20.5% below spot)

Earnings Overview

Next earnings: 2026-08-27 (64 days)explicit

Expected moves:

  • 2026-06-26 (2d): ±$4.09 (8.1%)
  • 2026-07-02 (8d): ±$6.80 (13.5%)
  • 2026-07-10 (16d): ±$9.15 (18.2%)

IV Setup

Term structure: Steep contango: 2d ±8.1%, 8d ±13.5%, 16d ±18.2%. Elevated IV across expirations.

Crush estimate: Not imminent; IV remains high until event.

Skew: Put skew pronounced; deep OTM puts (e.g., $20) trade at 244% IV.

Historical Context

Beat rate: 40% (2/5 quarters)

Avg move vs expected: Limited data: 2/5 beats (40%). Average move not calculated.

Directional bias: Mixed; bearish flow suggests downside pressure despite low beat rate.

Key Levels

1$40.00 gamma flip
2EM guardrails: 2d $46.20/$54.39; 1w $43.50/$57.10
3Max pain pins: $58 (2026-06-26); $56 (2026-07-02); $58 (2026-07-10)

Flow Highlights

Unusual call volume at $54 strikes on 6/26 and 7/2 expirations, with volume/OI >19.

Speculative bullish bets near current levels, but overall net premium is negative.

Large put volume at $53 and $41 strikes for 7/10 and 7/31 expirations.

Hedging or bearish positioning in downside strikes.

Strategies

Bearish Put Buy
Buy 2026-09-18 $48.00 put
Debit: $8.42-$10.29
Max loss: $10.29
Max gain: $37.71
BE: $37.71
Trigger: Stop at $59.45; take profits on IV spikes.
Bearish flow & high IV support downside bet.
Outperforms: Direct downside exposure; high IV boosts premium.
Underperforms: Break above resistance weakens downside thesis.
Neutral IV Crush
Sell 2026-07-02 $46.00/$45.00 put wing and $56.00/$57.00 call wing
Credit: $0.44-$0.54
Max loss: $0.46
Max gain: $0.54
BE: 45.46 / 56.54
Trigger: Close if spot nears $45 or $56.
High IV & contango favor selling premium.
Outperforms: Captures IV decay with defined risk.
Underperforms: Move outside short strikes invalidates range thesis.
Defined Bear Spread
Buy 2026-09-18 $55.00/$41.00 put spread
Debit: $7.09-$8.66
Max loss: $8.66
Max gain: $5.34
BE: $46.34
Trigger: Watch liquidity; exit if wide. Liquidity warning: Liquidity constraints: short_put: Volume below 5.
Limited vega risk; bearish with lower cost.
Outperforms: Bearish spread with defined max loss.
Underperforms: Trade above resistance weakens downside thesis.

Risk Assessment

!High IV premium decay before earnings.
!Bearish flow and spot below structural support levels.
!Gamma flip at $40 suggests potential acceleration if breached.

What to Watch

?Spot action around $54 resistance and $50 support.
?Put OI wall at $40-$45 for floor determination.
?Volume at $54 calls for sentiment shift.
How to Use These Reports
This earnings reflects the market close on June 24, 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.