IREN Options History — August 2025

In August 2025, IREN traded between $15.49 and $26.34. ATM implied volatility averaged 103.0%, placing in the 48.6% IV rank vs the trailing year. The 30-day expected move averaged 29.4%. IV traded above realized volatility by 32.9% (HV 20d: 70.1%). Max pain ranged from $13.00 to $17.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 4 of 21 days. Put/call ratio averaged 0.41.

Notable Days

2025-08-29: Highest Volume — 403,492 contracts
2025-08-29: Largest IV drop — 14.6% change
2025-08-21: Highest IV Rank — 58.9%
2025-08-25: Largest Expected Move — 33.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$19.73	$15.49	$26.34	$15.49	$26.34
Max Pain	$14.50	$13.00	$17.00	$13.50	$17.00
ATM IV	103.0%	91.7%	112.8%	96.8%	91.7%
Expected Move	29.4%	25.6%	33.2%	26.4%	26.1%
HV 20d	70.1%	52.1%	82.8%	52.1%	81.0%
HV 60d	68.4%	64.7%	73.1%	67.2%	73.1%
IV Rank	48.6%	36.7%	58.9%	42.1%	36.7%
IV Percentile	47.4%	17.9%	73.0%	28.6%	17.9%
Term Structure	-1.3%	-7.0%	11.8%	-7.0%	-0.2%
VWIV	103.4%	90.3%	117.0%	95.0%	92.6%
Skew 25d	-2.5%	-7.5%	2.0%	-4.8%	-1.8%
Skew 10d	1.4%	-54.8%	58.7%	-37.5%	-4.6%
Call IV 25d	105.7%	91.0%	116.5%	102.4%	94.0%
Put IV 25d	103.2%	90.0%	115.7%	97.6%	92.1%
Bid-Ask Spread %	31.67	14.89	50.16	50.16	27.07
Gamma HHI	0.13	0.08	0.54	0.08	0.08
Net GEX	9.6M	3.1M	22.3M	3.1M	11.7M
Net DEX	-1.16B	-2.08B	-567.4M	-567.4M	-2.08B
Net VEX	-5.8M	-6.2M	-5.3M	-5.3M	-6.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.41	0.15	0.84	0.71	0.30
Total Volume	140,148.095	45,865	403,492	92,896	403,492
Total OI	1,801,002	1,633,572	1,894,191	1,850,105	1,889,704

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
2025-08-01	$15.49	$13.50	96.8%	26.4%	52.1%	42.1%	95.0%	-4.8%	-7.0%	3.1M	-567.4M	-5.3M	0.71	50.16	54,186	38,710	1,154,995	695,110
2025-08-04	$16.38	$13.00	92.0%	26.4%	55.9%	37.0%	93.6%	-3.4%	11.8%	5.7M	-712.6M	-5.4M	0.17	34.12	60,870	10,184	1,113,559	678,104
2025-08-05	$16.38	$13.00	94.1%	25.6%	55.9%	39.2%	90.3%	-5.5%	-5.9%	6.8M	-720.7M	-5.4M	0.84	44.59	25,994	21,818	1,145,375	680,033
2025-08-06	$18.18	$13.00	93.5%	27.7%	67.4%	38.6%	98.8%	0.5%	0.1%	10.5M	-1.04B	-5.7M	0.27	47.09	161,330	42,914	1,153,312	687,045
2025-08-07	$18.38	$14.00	96.0%	26.9%	67.0%	41.2%	95.2%	-2.8%	-2.4%	12.7M	-1.08B	-5.8M	0.31	37.27	70,378	21,501	1,184,159	693,357
2025-08-08	$18.62	$14.00	95.4%	27.8%	65.5%	40.6%	94.3%	-2.3%	3.5%	16.3M	-1.10B	-5.8M	0.51	42.60	30,389	15,476	1,185,977	703,343
2025-08-11	$18.05	$14.00	99.1%	26.7%	65.1%	44.5%	95.6%	-3.0%	-3.3%	9.0M	-973.3M	-5.6M	0.16	35.39	82,491	13,201	1,133,777	681,907
2025-08-12	$17.88	$14.00	94.5%	26.5%	64.9%	39.7%	94.4%	-4.4%	-2.2%	8.5M	-932.1M	-5.6M	0.52	39.72	35,061	18,296	1,141,686	687,942
2025-08-13	$17.86	$14.00	100.6%	26.6%	64.4%	46.1%	93.9%	2.0%	-4.1%	8.3M	-927.5M	-5.5M	0.62	50.14	84,738	52,298	1,149,071	691,965
2025-08-14	$18.90	$15.00	104.0%	29.6%	65.9%	49.7%	103.5%	-2.7%	-1.9%	13.7M	-1.13B	-5.7M	0.45	31.02	116,052	52,664	1,171,909	690,397
2025-08-15	$19.95	$14.00	108.7%	29.8%	68.4%	54.6%	104.1%	-5.2%	-5.1%	22.3M	-1.35B	-5.9M	0.15	33.73	165,894	24,324	1,192,521	701,670
2025-08-18	$20.71	$15.00	110.9%	31.5%	69.0%	57.0%	112.3%	-1.5%	-1.0%	8.2M	-1.22B	-5.9M	0.43	14.89	118,379	50,665	1,008,922	624,650
2025-08-19	$18.84	$15.00	112.0%	32.0%	77.7%	58.2%	112.8%	-0.8%	-4.4%	6.5M	-953.4M	-5.7M	0.30	24.65	92,022	27,887	1,029,188	653,726
2025-08-20	$19.59	$15.00	110.3%	31.6%	78.8%	56.3%	111.6%	2.0%	-2.7%	7.6M	-1.06B	-5.8M	0.29	25.96	151,971	43,378	1,042,328	668,189
2025-08-21	$19.63	$15.00	112.8%	32.5%	78.7%	58.9%	114.2%	-0.8%	-4.3%	8.1M	-1.08B	-5.9M	0.28	20.72	77,624	21,420	1,066,073	688,568
2025-08-22	$21.38	$15.00	110.7%	31.7%	82.8%	56.8%	111.1%	-1.4%	-1.4%	11.6M	-1.36B	-6.1M	0.43	25.97	115,958	50,350	1,070,506	695,264
2025-08-25	$23.12	$15.00	111.5%	33.2%	78.7%	57.6%	117.0%	-0.9%	-0.3%	7.7M	-1.53B	-6.1M	0.67	17.29	138,645	93,161	1,024,983	688,486
2025-08-26	$22.84	$15.00	110.5%	32.8%	76.2%	56.5%	114.4%	-3.7%	-2.5%	8.0M	-1.48B	-6.1M	0.37	18.97	54,314	20,175	1,047,242	719,912
2025-08-27	$22.30	$15.00	110.6%	32.5%	77.6%	56.6%	115.8%	-4.1%	-3.1%	7.6M	-1.40B	-6.2M	0.33	19.08	62,115	20,670	1,052,658	731,330
2025-08-28	$23.44	$16.00	107.4%	32.5%	78.4%	53.2%	111.4%	-7.5%	10.0%	8.5M	-1.56B	-6.2M	0.45	24.73	139,569	62,546	1,057,240	744,859
2025-08-29	$26.34	$17.00	91.7%	26.1%	81.0%	36.7%	92.6%	-1.8%	-0.2%	11.7M	-2.08B	-6.1M	0.30	27.07	311,008	92,484	1,108,090	781,614