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IRENIREN Limited Ordinary Shares

Options Analysis Report•FINANCE SERVICES
Market Cap $14.6B|NASDAQ
● 2026-08-31$37.12
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y +27.5%YTD -13.1%7D -12.1%
804,777
30D
±21.4%
0%

IREN Options Overview

IV is elevated with unusual activity. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

6.7VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
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IREN Gamma Walls

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Value

Is IV priced right?

6.2
ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks5/9 checks passed
≤35%

IV Rank 92.3% — elevated vs history

<1.05x

IV/HV 0.85x — IV ≤ HV

Sector Relative≤50%

Sector percentile 95% — above sector median

<1.1x

Front/Back 0.86x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 78.5% — normal range

<80%

Effective IV 90.6% (ATM 78.5% + spread 6.0% + bias) — expensive

<3.0%

Total drag 10.29% (spread 6.03% + slippage 4.26%) — high friction

≥5.0

Vega efficiency 5.63 (vega 3.396 / spread 6.03%) — acceptable

Sentiment

Bullish or bearish?

6.0
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksNeutral - Moderate signal (Conviction: -4%, Raw: -8%)
|net sentiment| ≥25%

Conviction-weighted: -4% (neutral) — Raw: -8%

≥15%

|OI skew| 13.5% — balanced

Same sign, |vol skew| ≥10%

Vol skew +20.1%, OI skew +13.5% — aligned

≥2/3 conditions

0-DTE 0%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +6%, ATM: -0%, OTM: -12% — neutral (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 23% — very bullish vs sector

Activity

Unusual activity?

7.5
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks6/8 checks passed
≥1.5x

Volume 2.8x avg — hot

≥15%

Vol/OI 30.4% — high turnover

≥2 days

2 day(s) elevated — sustained

≥5%

OI change +15.0% (5d) — building

Sector Relative≥60%

Sector activity percentile 95% — very active vs sector

≥30%

Large trade volume 41% — institutional presence

≥60%

Aggressive execution 46% — patient

≥30

Conviction -4 (bearish) — mixed

Liquidity

Can I trade efficiently?

6.2
IlliquidLiquid

Evaluates

, volume depth, and open interest for trade execution quality.

Risk Checks4/8 checks passed
≤5.0%

Spread 6.0% — wide

≥10,000

OI 2,646,713 — deep

≥500

Volume 804,777/day — active

≤$0.50

$0.30 to cross — cheap

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 96% — much wider than sector

≥100 contracts

Depth 537.3 contracts (bid:251.8 ask:285.5) — deep

<1.0%

Avg slippage 4.26% — poor

Timing

Is now a good time?

7.6
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed
|slope| ≥5%

Slope -14.5% — contango

<30 or >70

IV percentile 92% — seller opportunity

≥10pts kink

IV kink -7.2pts — no clear event

<0.5 or >2.0

θ/ν ratio 52.01 — favors income trades

≥3 expirations

5 liquid expirations — flexible

≥60% (safe)

safe window: No events detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow -4% @ 52% consistency — unclear

≥40 composite score

Score 71 (ITM 20% + inst 41%) — HIGH institutional

Directional Strategy Fit

Option Buyers
Long Calls6.3
bullishIV cheap, bullish flow
Long Puts5.6
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put5.6
bullishIV too cheap, bullish flow
Covered Call4.9
bearishIV too cheap, bullish flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Aug 31, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.

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