Big Gainer Alert: Trading today’s 9.3% move in IRIS ENERGY LIMITED ORDINARY SHARES $IREN

Quantchabot has detected a new Bull Call Spread trade opportunity for IRIS ENERGY LIMITED ORDINARY SHARES (IREN) for the 26-Jul-2024 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine.

IREN was recently trading at $11.27 and has an implied volatility of 110.64% for this period. Based on an analysis of the options available for IREN expiring on 26-Jul-2024, there is a 34.18% likelihood that the underlying will close within the analyzed range of $11.34-$16.78 at expiration. In this scenario, the average linear return for the trade would be 10.39%.

Big 9.26% Change: After closing the last trading session at $10.31, IRIS ENERGY LIMITED ORDINARY SHARES opened today at $10.01 and has reached a high of $11.27.

Trade approach: A movement as big as 9.26% is a significantly bullish indicator, so this trade is designed to be profitable if IREN maintains its current direction and does not revert back to pricing on the bearish side of $11.27 on 26-Jul-2024. If possible, the trade has been padded such that slight movement against the trade would still return a profit.

Upside potential: Using this bullish strategy, the trade would be profitable if IRIS ENERGY LIMITED ORDINARY SHARES closes at or above $9.70 on 26-Jul-2024. Based on our risk-neutral analysis, there is a 65.57% likelihood of this return.

Downside risk: As with any options trade, there is a substantial downside risk where you may lose most or all of your investment.

To analyze this trade in depth, please visit the Quantcha Options Search Engine.


Posted

in

by

Tags:

Comments

Leave a Reply