IREN Options History — March 2025

In March 2025, IREN traded between $6.03 and $8.02. ATM implied volatility averaged 102.2%, placing in the 33.1% IV rank vs the trailing year. The 30-day expected move averaged 30.4%. IV traded below realized volatility by 3.3% (HV 20d: 105.5%). Max pain ranged from $9.00 to $13.00. Net GEX was positive for 16 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 0.39.

Notable Days

2025-03-03: Highest Volume — 123,999 contracts
2025-03-12: Largest IV drop — 10.7% change
2025-03-05: Highest IV Rank — 64.1%
2025-03-10: Largest Expected Move — 38.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$7.09	$6.03	$8.02	$7.54	$6.09
Max Pain	$10.76	$9.00	$13.00	$10.00	$10.00
ATM IV	102.2%	80.7%	125.1%	106.0%	95.8%
Expected Move	30.4%	25.0%	38.6%	31.6%	28.6%
HV 20d	105.5%	95.7%	117.9%	98.0%	104.4%
HV 60d	107.9%	103.6%	110.1%	107.3%	109.6%
IV Rank	33.1%	4.2%	64.1%	38.4%	24.5%
IV Percentile	23.5%	1.6%	66.7%	21.4%	7.5%
Term Structure	-0.1%	-22.0%	18.9%	6.2%	-0.3%
VWIV	106.0%	76.4%	133.7%	117.2%	99.3%
Skew 25d	-0.1%	-43.5%	8.1%	-13.9%	0.2%
Skew 10d	6.2%	-40.2%	50.4%	-40.2%	-28.2%
Call IV 25d	99.5%	76.0%	127.1%	114.2%	76.0%
Put IV 25d	99.4%	72.3%	121.6%	100.3%	76.2%
Bid-Ask Spread %	46.52	13.68	59.81	59.81	49.20
Gamma HHI	0.08	0.07	0.13	0.07	0.10
Net GEX	228.0K	-231.9K	653.1K	51.6K	-184.7K
Net DEX	125.0M	101.2M	142.2M	142.2M	133.1M
Net VEX	-1.6M	-2.0M	-1.2M	-1.7M	-1.2M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.39	0.10	2.17	0.15	0.20
Total Volume	46,121.952	19,773	123,999	123,999	41,938
Total OI	1,176,840.238	1,070,456	1,234,635	1,115,239	1,120,541

Daily Data (21 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
2025-03-03	$7.54	$10.00	106.0%	31.6%	98.0%	38.4%	117.2%	-13.9%	6.2%	51.6K	142.2M	-1.7M	0.15	59.81	107,870	16,129	618,763	496,476
2025-03-04	$7.58	$10.00	115.3%	35.1%	95.7%	50.8%	122.0%	8.1%	-1.4%	144.7K	128.6M	-1.8M	0.32	51.07	59,060	19,184	654,951	508,902
2025-03-05	$8.02	$10.00	125.1%	33.3%	99.0%	64.1%	120.8%	-0.4%	-22.0%	493.0K	101.2M	-2.0M	0.10	42.31	54,898	5,445	679,950	514,572
2025-03-06	$7.63	$10.00	116.9%	35.1%	98.7%	53.1%	124.9%	-12.4%	-3.8%	300.7K	110.5M	-1.9M	0.35	50.43	23,238	8,150	706,754	515,533
2025-03-07	$7.74	$10.00	118.8%	33.7%	96.2%	55.6%	122.0%	5.5%	18.9%	450.2K	113.9M	-1.9M	0.11	47.92	33,919	3,650	711,209	516,305
2025-03-10	$6.61	$10.00	118.8%	38.6%	101.5%	55.6%	133.7%	-43.5%	3.0%	162.8K	132.3M	-1.5M	0.14	47.10	51,092	6,998	685,494	500,074
2025-03-11	$7.09	$10.00	119.8%	36.3%	105.0%	56.9%	125.2%	5.8%	-2.9%	233.0K	122.9M	-1.6M	0.30	49.32	22,515	6,658	693,540	502,075
2025-03-12	$7.00	$10.00	107.0%	31.4%	105.0%	39.7%	108.1%	5.6%	-0.9%	114.6K	131.4M	-1.6M	0.27	48.03	34,430	9,315	695,977	503,252
2025-03-13	$6.75	$9.00	108.7%	31.5%	100.5%	42.0%	108.6%	3.0%	-0.7%	75.9K	135.9M	-1.5M	0.30	23.27	21,204	6,435	712,566	505,340
2025-03-14	$7.17	$9.00	101.8%	29.3%	105.6%	32.6%	99.2%	5.2%	-0.1%	298.3K	119.7M	-1.6M	0.12	53.76	34,612	4,116	722,230	494,980
2025-03-17	$7.42	$13.00	99.7%	29.1%	106.9%	29.8%	101.2%	4.6%	3.8%	566.4K	113.5M	-1.7M	0.16	47.10	21,769	3,455	710,237	488,414
2025-03-18	$6.63	$12.00	102.2%	29.4%	110.5%	33.2%	104.3%	3.8%	-0.8%	179.9K	131.9M	-1.4M	0.32	49.60	17,060	5,469	723,151	484,542
2025-03-19	$7.24	$12.00	95.6%	28.2%	117.9%	24.3%	97.9%	6.2%	-0.1%	653.1K	113.7M	-1.6M	0.74	50.52	24,627	18,180	733,515	480,494
2025-03-20	$7.19	$12.00	91.9%	28.0%	117.4%	19.2%	76.4%	3.4%	-1.3%	555.5K	128.0M	-1.5M	2.17	44.54	16,745	36,356	742,648	491,987
2025-03-21	$7.05	$12.00	90.1%	27.7%	111.2%	16.8%	96.9%	5.0%	-1.7%	-47.1K	125.1M	-1.5M	0.54	46.79	12,856	6,917	747,611	486,294
2025-03-24	$7.62	$12.00	80.7%	25.0%	115.5%	4.2%	89.8%	3.3%	1.0%	626.4K	108.4M	-1.7M	0.20	46.08	54,954	11,078	602,589	467,867
2025-03-25	$7.33	$12.00	83.0%	25.4%	105.0%	7.2%	88.9%	3.5%	3.4%	512.9K	119.7M	-1.6M	0.25	50.65	23,434	5,931	628,519	476,509
2025-03-26	$6.71	$12.00	85.1%	26.7%	108.0%	10.1%	94.3%	-4.2%	1.3%	-18.5K	135.1M	-1.4M	0.20	52.79	33,415	6,806	641,071	481,005
2025-03-27	$6.46	$11.00	87.5%	26.3%	106.1%	13.4%	93.7%	3.2%	-0.8%	-148.5K	141.4M	-1.3M	0.59	52.93	36,533	21,549	655,297	480,078
2025-03-28	$6.03	$10.00	95.4%	28.5%	106.6%	24.0%	101.2%	5.0%	-2.0%	-231.9K	137.3M	-1.2M	0.60	13.68	25,390	15,181	666,656	465,677
2025-03-31	$6.09	$10.00	95.8%	28.6%	104.4%	24.5%	99.3%	0.2%	-0.3%	-184.7K	133.1M	-1.2M	0.20	49.20	34,973	6,965	647,832	472,709