Moderately bullish activity in Iris Energy with shares up 5.51%

Moderately bullish activity in Iris Energy (IREN), with shares up $3.21, or 5.51%, near $61.43. Options volume relatively light with 136k contracts traded and calls leading puts for a put/call ratio of 0.58, compared to a typical level near 0.46. Implied volatility (IV30) dropped 0.05 near 132.17, in the highest 10% of observations over the past year, suggesting an expected daily move of $5.11. Put-call skew flattened, suggesting a modestly bullish tone, following a downgrade to Sell at H.C. Wainwright.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 12.5% or $7.68.