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IREN

IREN LIMITEDClose $48.55EOD only

Max Pain

$44.50

Next expiry Sep 25, 2026

Expected Move

±$2.98

6.2% from close

Price Gap

-4.05

Distance to max pain

IV Rank

Low premium

P/C OI

0.79

Slightly call-heavy

Consensus

7.5/10

Bearish tilt

Published snapshot: Sep 22, 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

Sep 22, 2026 close

IREN Theta Report

Analysis based on market close June 24, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from June 24, 2026. A newer theta report is available for June 26, 2026.

View latest report

Theta Verdict

Confidence:

6.5 / 10

base 5; +2 GEX/flow strongly aligned; -1 spot 13.3% from MP; +0.5 VIX 19

IV Environment

IV Regime

High

IV vs VIX

IV significantly elevated vs VIX (115.8% vs 18.6)

Favorable?

Yes

Term structure: Slightly backwardated near term then flattening; elevated across all expirations

📈Avg IV 115.8% vs VIX 18.6, extremely rich for premium selling.

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-24.4M)

Gamma flip: ~$40.00 — Approx — based on put OI concentration of 40,824 (20.5% below spot)

OI concentrations: Max pain $58 Jun26; put floor $30-$45; call wall $65.

Verdict: Spot below max pain $58; moderate pin risk for near-term puts; OI concentrated at $56 and $58 for weeklies.

Premium Opportunities

Put credit spread

Sell 2026-07-17 $50.00/$46.00 put spread

Sell 2026-07-17 $50/$46 put spread to collect premium with invalidation at $41.15

Credit: $1.53-$1.87

Max loss: $2.13

BE: $48.13

Mgmt: Roll if spot nears $50; exit at 50% max gain

Call credit spread

Sell 2026-07-17 $55.00/$60.00 call spread

Sell 2026-07-17 $55/$60 call spread to capitalize on elevated call IV and bearish sentiment

Credit: $1.35-$1.66

Max loss: $3.34

BE: $56.66

Mgmt: Adjust if spot approaches $55; close at 50% profit

Risk Alerts

!Negative dealer gamma ($-24.4M GEX) amplifies moves.

!Bearish flow with put/call vol ratio 1.38.

!Spot 13.3% from max pain; potential pinning risk.

!High IV (avg 115.8%) may contract rapidly.

How to Use These Reports

This theta 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.