IREN Options History — July 2025

In July 2025, IREN traded between $15.16 and $18.64. ATM implied volatility averaged 99.4%, placing in the 44.9% IV rank vs the trailing year. The 30-day expected move averaged 27.8%. IV traded above realized volatility by 38.2% (HV 20d: 61.2%). Max pain ranged from $9.00 to $13.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 11 of 22 days. Put/call ratio averaged 0.31.

Notable Days

2025-07-21: Highest Volume — 380,899 contracts
2025-07-22: Largest IV spike — 9.0% change
2025-07-22: Highest IV Rank — 57.5%
2025-07-22: Largest Expected Move — 31.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$17.06	$15.16	$18.64	$15.16	$16.35
Max Pain	$12.64	$9.00	$13.00	$9.00	$13.00
ATM IV	99.4%	93.5%	111.4%	96.6%	98.6%
Expected Move	27.8%	26.2%	31.2%	26.5%	26.9%
HV 20d	61.2%	48.7%	74.6%	72.9%	56.8%
HV 60d	68.6%	64.3%	80.1%	79.4%	65.9%
IV Rank	44.9%	38.6%	57.5%	41.9%	44.0%
IV Percentile	33.5%	22.2%	61.1%	25.8%	32.5%
Term Structure	-2.2%	-57.2%	9.3%	-7.4%	-4.5%
VWIV	99.8%	93.5%	115.5%	94.5%	97.6%
Skew 25d	-6.6%	-17.1%	4.1%	-0.1%	-6.6%
Skew 10d	4.0%	-41.3%	46.8%	46.8%	-6.7%
Call IV 25d	105.6%	94.3%	123.4%	98.6%	106.2%
Put IV 25d	99.0%	92.6%	109.2%	98.5%	99.6%
Bid-Ask Spread %	33.45	16.29	49.18	49.18	16.29
Gamma HHI	0.11	0.07	0.41	0.08	0.08
Net GEX	7.8M	4.6M	18.9M	6.6M	4.8M
Net DEX	-968.8M	-1.20B	-658.3M	-799.9M	-714.5M
Net VEX	-5.3M	-5.8M	-4.8M	-4.8M	-5.5M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.31	0.14	0.98	0.28	0.48
Total Volume	157,483.545	59,292	380,899	185,932	59,292
Total OI	1,755,106.318	1,621,705	1,829,183	1,629,143	1,829,183

Daily Data (22 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
2025-07-01	$15.16	$9.00	96.6%	26.5%	72.9%	41.9%	94.5%	-0.1%	-7.4%	6.6M	-799.9M	-4.8M	0.28	49.18	145,425	40,507	1,019,433	609,710
2025-07-02	$15.46	$10.00	99.1%	27.1%	73.0%	44.5%	101.4%	1.7%	-6.9%	6.8M	-831.4M	-4.9M	0.36	37.70	103,041	37,600	1,036,217	640,107
2025-07-03	$16.77	$12.00	102.8%	29.2%	74.6%	48.5%	102.6%	-17.1%	-5.9%	7.3M	-1.02B	-5.1M	0.28	47.54	232,817	65,706	1,039,450	654,426
2025-07-07	$17.05	$13.00	104.1%	30.5%	67.2%	49.8%	107.2%	-8.6%	3.1%	6.4M	-1.01B	-5.3M	0.23	38.93	143,698	32,394	1,040,945	666,123
2025-07-08	$16.98	$13.00	98.7%	28.4%	64.8%	44.1%	99.6%	-11.4%	-1.7%	7.2M	-1.00B	-5.3M	0.34	33.99	173,106	58,381	1,070,341	682,249
2025-07-09	$17.16	$13.00	98.4%	27.4%	64.4%	43.8%	99.4%	2.1%	-2.6%	8.0M	-1.06B	-5.4M	0.29	39.98	62,717	18,291	1,121,601	670,126
2025-07-10	$16.86	$13.00	95.0%	26.4%	66.2%	40.2%	93.5%	4.1%	4.1%	8.4M	-1.01B	-5.4M	0.15	36.84	138,276	20,082	1,133,714	674,978
2025-07-11	$16.30	$13.00	95.0%	27.5%	66.8%	40.1%	98.7%	-5.4%	2.3%	6.7M	-895.5M	-5.3M	0.49	40.25	102,901	50,197	1,129,084	683,924
2025-07-14	$17.07	$13.00	98.0%	28.3%	66.7%	43.4%	98.6%	-8.7%	4.3%	8.3M	-1.03B	-5.2M	0.24	42.40	115,964	28,293	1,111,924	630,781
2025-07-15	$16.83	$13.00	96.5%	27.7%	63.8%	41.8%	96.1%	-6.6%	-0.7%	8.1M	-976.3M	-5.2M	0.14	36.76	140,782	19,589	1,116,784	634,068
2025-07-16	$17.26	$13.00	93.5%	26.8%	63.2%	38.6%	95.6%	-7.6%	-0.6%	9.2M	-1.06B	-5.3M	0.19	27.59	58,413	11,060	1,143,691	637,635
2025-07-17	$17.98	$13.00	95.1%	27.4%	54.9%	40.3%	97.0%	-7.5%	1.9%	11.3M	-1.19B	-5.3M	0.29	27.71	123,614	35,553	1,152,606	640,660
2025-07-18	$17.98	$13.00	95.0%	27.3%	56.0%	40.2%	95.3%	-5.7%	1.9%	18.9M	-1.20B	-5.4M	0.28	34.64	156,125	43,481	1,180,991	621,112
2025-07-21	$18.43	$13.00	102.2%	30.1%	55.6%	47.8%	109.7%	-10.1%	2.5%	7.6M	-1.11B	-5.5M	0.27	21.51	300,657	80,242	1,042,059	579,646
2025-07-22	$18.45	$13.00	111.4%	31.2%	56.4%	57.5%	115.5%	-14.2%	5.6%	7.5M	-1.09B	-5.7M	0.25	36.12	168,688	42,854	1,095,513	613,807
2025-07-23	$18.64	$13.00	104.6%	29.1%	52.1%	50.3%	104.4%	-7.5%	7.4%	8.9M	-1.14B	-5.8M	0.25	28.65	69,855	17,761	1,146,060	631,834
2025-07-24	$18.45	$13.00	102.6%	28.0%	53.4%	48.2%	101.3%	-7.3%	9.3%	8.5M	-1.10B	-5.7M	0.14	25.59	92,747	12,531	1,171,474	641,686
2025-07-25	$17.91	$13.00	100.9%	26.2%	48.7%	46.4%	95.2%	-7.6%	2.9%	6.5M	-991.1M	-5.7M	0.45	28.49	75,580	33,796	1,160,408	646,436
2025-07-28	$16.48	$13.00	99.5%	26.2%	55.8%	44.9%	94.5%	-7.3%	-2.5%	5.4M	-763.0M	-5.4M	0.32	26.91	88,256	27,942	1,106,042	634,630
2025-07-29	$15.77	$13.00	100.0%	26.9%	57.6%	45.5%	99.7%	-5.2%	-57.2%	4.6M	-658.3M	-5.3M	0.19	22.54	114,081	21,198	1,126,555	645,782
2025-07-30	$15.91	$13.00	99.7%	26.6%	56.4%	45.1%	97.5%	-8.5%	-2.9%	4.7M	-671.0M	-5.3M	0.98	36.26	51,079	50,066	1,140,537	658,007
2025-07-31	$16.35	$13.00	98.6%	26.9%	56.8%	44.0%	97.6%	-6.6%	-4.5%	4.8M	-714.5M	-5.5M	0.48	16.29	40,100	19,192	1,144,469	684,714