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IREN

IREN LIMITEDClose $41.23EOD only
Max Pain
$39.00
Next expiry Aug 14, 2026
Expected Move
±$4.60
11.2% from close
Price Gap
-2.23
Distance to max pain
IV Rank
22
Low premium
P/C OI
1.09
Balanced positioning
Consensus
7.5/10
Bearish tilt
Published snapshot: Aug 7, 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
Aug 7, 2026 close
IREN Theta Report
Analysis based on market close June 25, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 25, 2026. A newer theta report is available for June 26, 2026.

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Theta Verdict

Attractiveness6 / 10
Sizing: Conservative
Primary: Bear Put Debit Spread
Invalidation: Break below $45 support
Confidence:
6.5 / 10
base 5; +2 GEX/flow strongly aligned; -1 spot 16.2% from MP; +0.5 VIX 19

IV Environment

IV Regime
High
IV vs VIX
IV 117% vs VIX 19, significantly elevated
Favorable?
No

Term structure: Front-end skew high, call IV > put IV; term structure upward sloping 1d to 7d then flat

📉IV 117% vs VIX 19, rich premium; put/call vol ratio 2.1
⚠️GEX -$37.7M, dealers net short gamma

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-37.7M)

Gamma flip: ~$42.00 — Approx — based on put OI concentration of 40,470 (12.0% below spot)

OI concentrations: Max pain $57 (6/26,7/2,7/10); call wall $65; put floor $30-$45

Verdict: High pin risk near $57; spot below; gamma flip at $42

Premium Opportunities

#1
Put diagonal
Sell 2026-07-10 $44.00 put / buy 2026-09-18 $48.00 put
Sells front put for decay, buys back put for hedge; benefits from spot decline and IV drop.
Debit: $6.76-$8.26
Max loss: $8.26
BE: Path-dependent
Mgmt: Exit if spot breaks $45 invalidation; roll long put forward if vol persists.
#2
Call diagonal
Sell 2026-07-17 $60.00 call / buy 2026-09-18 $65.00 call
Sells near call for premium, buys long call for upside; profits if spot stays below $60 and vol decays.
Debit: $3.29-$4.03
Max loss: $4.03
BE: Path-dependent
Mgmt: Exit if spot breaks below $45 or above $65; adjust strikes as direction changes.

Risk Alerts

!Expiry day pin risk elevated
!Negative dealer gamma amplifies moves
!IV skew wide, monitor overnight risk
How to Use These Reports
This theta reflects the market close on June 25, 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.