IREN Options History — November 2025

In November 2025, IREN traded between $42.23 and $75.72. ATM implied volatility averaged 121.6%, placing in the 75.2% IV rank vs the trailing year. The 30-day expected move averaged 35.9%. IV traded above realized volatility by 12.1% (HV 20d: 109.6%). Max pain ranged from $26.00 to $60.00. Net GEX was positive for 16 of 19 trading days. Term structure was in contango for 11 of 19 days. Put/call ratio averaged 0.52.

Notable Days

2025-11-07: Highest Volume — 472,525 contracts
2025-11-24: Largest IV drop — 8.4% change
2025-11-21: Highest IV Rank — 86.9%
2025-11-05: Largest Expected Move — 41.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$54.29	$42.23	$75.72	$68.16	$47.76
Max Pain	$38.42	$26.00	$60.00	$56.00	$40.00
ATM IV	121.6%	105.2%	131.7%	131.3%	105.2%
Expected Move	35.9%	31.5%	41.2%	39.9%	31.5%
HV 20d	109.6%	97.3%	114.5%	100.1%	114.2%
HV 60d	106.5%	98.4%	110.8%	98.8%	108.0%
IV Rank	75.2%	58.7%	86.9%	78.5%	58.7%
IV Percentile	82.9%	60.3%	92.5%	92.1%	60.3%
Term Structure	-0.6%	-6.0%	3.8%	3.8%	-5.1%
VWIV	126.2%	111.1%	144.0%	141.5%	111.1%
Skew 25d	5.3%	-3.8%	13.5%	1.1%	7.9%
Skew 10d	11.9%	2.3%	27.2%	6.6%	12.8%
Call IV 25d	120.9%	105.5%	131.8%	131.8%	105.5%
Put IV 25d	126.2%	113.4%	139.3%	132.9%	113.4%
Bid-Ask Spread %	33.74	23.65	47.29	25.42	25.41
Gamma HHI	0.07	0.04	0.33	0.06	0.06
Net GEX	9.8M	-15.2M	27.4M	20.1M	7.5M
Net DEX	-3.93B	-7.48B	-2.13B	-6.25B	-3.05B
Net VEX	-12.6M	-14.0M	-11.3M	-13.5M	-11.9M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.52	0.25	0.85	0.39	0.50
Total Volume	259,953.211	106,598	472,525	345,692	106,598
Total OI	2,453,275.158	2,236,974	2,616,853	2,309,412	2,387,265

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
2025-11-03	$68.16	$56.00	131.3%	39.9%	100.1%	78.5%	141.5%	1.1%	3.8%	20.1M	-6.25B	-13.5M	0.39	25.42	248,583	97,109	1,276,410	1,033,002
2025-11-04	$67.69	$59.00	131.7%	40.8%	97.3%	78.9%	144.0%	2.1%	-0.5%	19.3M	-6.08B	-13.6M	0.48	33.84	150,088	71,822	1,316,254	1,070,144
2025-11-05	$75.72	$60.00	128.0%	41.2%	104.2%	75.0%	139.6%	5.0%	0.3%	27.4M	-7.48B	-14.0M	0.42	30.32	219,179	92,900	1,347,330	1,078,056
2025-11-06	$68.12	$26.00	127.4%	37.5%	111.0%	74.3%	131.9%	8.5%	1.3%	19.7M	-6.10B	-13.9M	0.43	35.20	179,513	77,693	1,377,095	1,107,936
2025-11-07	$62.86	$27.00	121.8%	35.7%	112.0%	68.4%	124.7%	3.3%	0.5%	18.1M	-5.04B	-13.6M	0.62	42.16	291,521	181,004	1,425,732	1,130,561
2025-11-10	$60.25	$30.00	121.8%	35.0%	109.8%	68.4%	122.8%	-3.8%	3.8%	14.5M	-4.80B	-13.2M	0.39	47.29	156,931	60,437	1,336,425	1,084,676
2025-11-11	$56.86	$30.00	118.7%	33.9%	107.1%	75.1%	119.5%	-1.1%	-3.8%	8.1M	-4.11B	-12.9M	0.48	44.68	164,290	78,121	1,376,411	1,117,505
2025-11-12	$55.83	$30.00	116.8%	34.3%	107.1%	72.9%	121.6%	-2.9%	2.0%	7.0M	-3.90B	-13.0M	0.63	32.42	170,880	107,618	1,399,549	1,139,308
2025-11-13	$49.09	$30.00	121.7%	35.2%	111.0%	78.8%	126.0%	4.2%	0.8%	-3.5M	-2.77B	-12.3M	0.69	33.75	213,253	147,049	1,430,487	1,151,498
2025-11-14	$46.59	$30.00	117.2%	33.9%	111.9%	73.3%	120.4%	8.2%	1.3%	-1.6M	-2.49B	-11.9M	0.56	37.78	182,149	101,974	1,466,117	1,150,736
2025-11-17	$46.32	$36.00	125.6%	36.0%	111.7%	83.6%	129.8%	3.5%	-2.6%	4.8M	-2.74B	-11.8M	0.27	35.71	161,817	43,199	1,335,258	1,089,347
2025-11-18	$49.52	$36.00	121.5%	34.8%	112.4%	78.5%	124.7%	6.5%	-4.0%	9.6M	-3.24B	-12.1M	0.58	31.20	120,048	70,217	1,348,710	1,082,470
2025-11-19	$46.06	$40.00	123.3%	35.4%	114.1%	80.8%	125.0%	8.4%	-6.0%	5.2M	-2.74B	-11.8M	0.37	41.27	145,205	53,597	1,384,230	1,103,426
2025-11-20	$44.09	$40.00	127.3%	36.4%	111.3%	85.6%	125.4%	10.3%	0.2%	904.2K	-2.45B	-11.3M	0.69	36.96	243,183	166,743	1,399,042	1,116,630
2025-11-21	$42.23	$40.00	128.4%	37.2%	103.0%	86.9%	132.6%	13.5%	-2.2%	-15.2M	-2.13B	-11.3M	0.85	29.96	142,101	121,244	1,438,733	1,145,934
2025-11-24	$48.25	$40.00	117.5%	35.3%	114.5%	73.7%	122.3%	9.2%	-2.6%	10.8M	-3.03B	-12.0M	0.25	26.99	219,275	55,392	1,234,125	1,002,849
2025-11-25	$47.60	$40.00	116.4%	34.9%	114.2%	72.4%	120.9%	7.9%	1.7%	15.8M	-3.04B	-12.4M	0.67	27.07	98,534	66,223	1,342,613	1,020,713
2025-11-26	$48.50	$40.00	109.7%	32.6%	114.5%	64.2%	113.5%	8.3%	0.7%	17.3M	-3.17B	-12.2M	0.53	23.65	87,079	46,542	1,336,042	1,029,609
2025-11-28	$47.76	$40.00	105.2%	31.5%	114.2%	58.7%	111.1%	7.9%	-5.1%	7.5M	-3.05B	-11.9M	0.50	25.41	71,255	35,343	1,350,032	1,037,233