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IREN

IREN LIMITEDClose $36.29EOD only
Max Pain
$42.00
Next expiry Jul 31, 2026
Expected Move
±$4.43
12.2% from close
Price Gap
+5.71
Distance to max pain
IV Rank
28
Middle-high premium
P/C OI
1.19
Slightly put-heavy
Consensus
7.5/10
Bearish tilt
Published snapshot: Jul 27, 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
Jul 27, 2026 close
IREN Theta Report
Analysis based on market close June 12, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 12, 2026. A newer theta report is available for June 26, 2026.

View latest report

Theta Verdict

Attractiveness8 / 10
Sizing: Moderate
Primary: Credit Spread
Invalidation: Spot moves below $50 or IV collapses below 80%
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 6.7% from MP; +1 VIX 18

IV Environment

IV Regime
High
IV vs VIX
IV (113%) >> VIX (17.68)
Favorable?
Yes

Term structure: Steep contango from 0DTE to 6DTE, then flattening

🔥Avg IV 113%, rich premiums
📈Contango benefits theta strategies
⚠️Spot above max pain $56

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+83.7M)

Gamma flip: ~$43.00 — Approx — based on put OI concentration of 30,542 (28.1% below spot)

OI concentrations: Call wall $65, put floor $30-$50

Verdict: Strong pinning at $56 for June 12 expiry

Premium Opportunities

#1
Put credit spread
Sell 2026-07-17 $50.00/$49.00 put spread
Sell 2026-07-17 $50/$49 put spread for rich premium with defined risk.
Credit: $0.36-$0.45
Max loss: $0.55
BE: $49.55
Mgmt: Close at 50% max profit or if stock drops below $56.
#2
Iron condor
Sell 2026-07-17 $50.00/$49.00 put wing and $75.00/$80.00 call wing
Sell $50/$49 put and $75/$80 call wing for defined-range theta decay.
Credit: $1.12-$1.37
Max loss: $3.63
BE: 48.63 / 76.37
Mgmt: Adjust wings if pin shifts; close at 50% max profit.

Risk Alerts

!High IV may signal elevated risk
!Positive GEX suggests dealer hedging could amplify moves
How to Use These Reports
This theta 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.