Moderately bullish activity in Iris Energy (IREN), with shares up $1.58, or 2.44%, near $66.58. Options volume relatively light with 52k contracts traded and calls leading puts for a put/call ratio of 0.25, compared to a typical level near 0.48. Implied volatility (IV30) dropped 3.37 near 130.61, in the highest 10% of observations over the past year, suggesting an expected daily move of $5.48. Put-call skew flattened, suggesting a modestly bullish tone.Looking ahead: Iris Energy (IREN) will report earnings after the close on 2025-11-06.Option markets are pricing in a 50% probability of a move greater than 13.4% or $8.92.
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