IREN Options History — February 2025

In February 2025, IREN traded between $7.83 and $13.16. ATM implied volatility averaged 96.0%, placing in the 18.6% IV rank vs the trailing year. The 30-day expected move averaged 28.0%. IV traded below realized volatility by 19.6% (HV 20d: 115.7%). Max pain ranged from $10.00 to $12.00. Net GEX was positive for 14 of 19 trading days. Term structure was in contango for 9 of 19 days. Put/call ratio averaged 0.51.

Notable Days

2025-02-13: Highest Volume — 196,367 contracts
2025-02-13: Largest IV drop — 18.0% change
2025-02-27: Highest IV Rank — 39.9%
2025-02-03: Largest Expected Move — 35.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$11.24	$7.83	$13.16	$10.73	$8.13
Max Pain	$11.50	$10.00	$12.00	$10.00	$10.50
ATM IV	96.0%	77.6%	115.3%	115.3%	101.3%
Expected Move	28.0%	22.3%	35.5%	35.5%	29.7%
HV 20d	115.7%	91.8%	128.1%	128.1%	95.4%
HV 60d	118.1%	107.2%	128.1%	128.1%	107.2%
IV Rank	18.6%	0.0%	39.9%	33.5%	32.0%
IV Percentile	10.7%	0.0%	40.9%	40.9%	9.9%
Term Structure	-0.2%	-11.3%	20.2%	-7.5%	-1.6%
VWIV	98.5%	79.0%	122.9%	122.9%	106.1%
Skew 25d	8.1%	-7.6%	43.7%	-3.3%	2.7%
Skew 10d	-1.4%	-42.7%	46.3%	26.7%	-15.6%
Call IV 25d	89.0%	54.1%	113.7%	113.7%	102.2%
Put IV 25d	97.2%	77.7%	116.3%	110.5%	104.9%
Bid-Ask Spread %	41.01	29.22	50.42	36.97	46.65
Gamma HHI	0.09	0.06	0.19	0.08	0.08
Net GEX	1.7M	-840.8K	4.8M	1.3M	211.3K
Net DEX	-26.2M	-167.6M	175.4M	-56.7M	148.1M
Net VEX	-2.5M	-3.0M	-1.7M	-2.2M	-1.8M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.51	0.11	1.27	0.40	0.27
Total Volume	82,236.579	36,748	196,367	83,281	63,074
Total OI	1,130,694.368	1,014,570	1,222,009	1,014,570	1,163,188

Daily Data (19 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2025-02-03	$10.73	$10.00	115.3%	35.5%	128.1%	33.5%	122.9%	-3.3%	-7.5%	1.3M	-56.7M	-2.2M	0.40	36.97	59,470	23,811	609,958	404,612
2025-02-04	$10.75	$10.00	113.6%	33.9%	123.2%	31.9%	120.6%	21.8%	-2.2%	1.7M	-51.0M	-2.3M	0.64	29.22	22,439	14,309	635,255	423,550
2025-02-05	$11.00	$10.00	104.4%	33.6%	123.0%	23.1%	117.1%	43.2%	20.2%	2.1M	-64.3M	-2.4M	1.05	40.86	24,156	25,304	644,550	434,673
2025-02-06	$11.57	$12.00	108.7%	30.2%	123.3%	27.2%	105.0%	-0.6%	5.6%	2.9M	-98.3M	-2.5M	0.28	35.01	43,635	12,173	647,418	447,030
2025-02-07	$12.43	$12.00	106.0%	30.1%	123.6%	24.6%	105.7%	7.3%	0.8%	3.7M	-167.6M	-2.7M	0.32	39.82	109,454	35,492	644,107	455,423
2025-02-10	$12.91	$12.00	98.0%	28.5%	123.3%	17.0%	100.6%	3.0%	5.4%	2.5M	-165.3M	-2.8M	0.57	31.49	66,752	37,838	628,302	464,401
2025-02-11	$12.36	$12.00	100.4%	28.7%	122.3%	19.2%	101.8%	30.7%	0.1%	2.1M	-111.1M	-2.8M	1.00	31.64	30,115	30,264	645,578	482,511
2025-02-12	$13.04	$12.00	102.5%	28.4%	122.7%	21.3%	99.7%	43.7%	-5.8%	2.7M	-159.2M	-3.0M	1.03	41.87	55,079	56,927	657,202	502,721
2025-02-13	$12.89	$12.00	84.1%	24.2%	121.6%	3.7%	84.2%	0.9%	1.2%	3.4M	-118.5M	-3.0M	1.27	40.61	86,694	109,673	674,634	533,550
2025-02-14	$13.09	$12.00	77.9%	22.7%	121.5%	0.0%	79.0%	0.9%	3.3%	4.8M	-132.6M	-3.0M	0.50	44.41	53,620	26,824	688,011	533,998
2025-02-18	$13.05	$12.00	79.4%	22.8%	120.7%	1.4%	79.1%	0.0%	-1.2%	2.8M	-99.9M	-3.0M	0.60	50.42	47,644	28,662	646,171	520,406
2025-02-19	$13.16	$12.00	77.6%	22.3%	114.2%	0.0%	80.2%	-1.5%	-2.0%	3.0M	-110.8M	-3.0M	0.45	48.93	30,182	13,639	649,799	530,134
2025-02-20	$12.34	$12.00	81.0%	23.3%	113.6%	3.7%	82.2%	-0.6%	-2.1%	1.3M	-29.7M	-2.9M	0.21	42.51	46,580	9,766	656,781	529,443
2025-02-21	$10.86	$12.00	85.4%	24.9%	121.8%	8.5%	90.6%	-1.4%	-6.7%	-429.7K	84.4M	-2.5M	0.30	36.53	74,322	22,629	664,669	535,109
2025-02-24	$10.21	$12.00	86.0%	25.0%	119.4%	10.4%	89.4%	-7.6%	0.8%	-840.8K	123.3M	-2.3M	0.31	41.30	39,792	12,477	561,692	509,956
2025-02-25	$8.82	$12.00	97.3%	29.1%	91.8%	26.6%	101.1%	1.5%	-2.7%	-578.0K	166.5M	-1.9M	0.22	44.52	92,005	20,541	578,010	513,381
2025-02-26	$8.41	$11.00	98.9%	29.2%	93.0%	28.7%	101.1%	1.1%	1.5%	-179.3K	175.4M	-1.8M	0.11	48.78	67,361	7,734	608,121	514,649
2025-02-27	$7.83	$11.00	107.2%	30.1%	95.6%	39.9%	105.2%	12.6%	-11.3%	-19.3K	170.2M	-1.7M	0.23	47.62	50,625	11,433	627,547	516,653
2025-02-28	$8.13	$10.50	101.3%	29.7%	95.4%	32.0%	106.1%	2.7%	-1.6%	211.3K	148.1M	-1.8M	0.27	46.65	49,585	13,489	653,643	509,545