Option traders moderately bearish in Iris Energy (IREN), with shares down $6.88 near $48.83. Options volume running well above average with 333k contracts traded and calls leading puts for a put/call ratio of 0.74, compared to a typical level near 0.48. Implied volatility (IV30) is higher by 5.2 points near 121.86,in the top quartile of the past year, suggesting an expected daily move of $3.75. Put-call skew steepened, indicating increased demand for downside protection.
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