Mixed options sentiment in Iris Energy (IREN), with shares up 4c, or 0.1%, near $46.98. Options volume relatively light with 56k contracts traded and calls leading puts for a put/call ratio of 0.62, compared to a typical level near 0.52. Implied volatility (IV30) dropped 2.83 near 101.37,and below the 52wk median, suggesting an expected daily move of $3.00. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Underweight at JPMorgan.
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