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IREN sees unusual long-dated puts after Bitcoin jumps
Shares closed at $44.68 on Friday after rising 7.3%, while more than 14,000 long-dated out-of-the-money put contracts traded.
Iren Ltd. (IREN) saw heavy, unusual options activity late last week as Bitcoin moved higher, with a surge in out-of-the-money put volume drawing attention from traders. According to Yahoo Finance, the activity was concentrated in long-dated contracts and tracked the same week that Bitcoin strengthened.
Yahoo Finance cited Barchart data showing IREN closed Friday at $44.68, up 7.27%, after gains on Thursday and Wednesday that marked an exit from a two-month slump. The report linked the stock move to a rise in institutional demand for digital assets after the Fed signaled it would not aggressively hike short-term rates.
The options report highlighted that more than 14,000 long-dated IREN put contracts expiring March 19, 2027 traded Friday at strikes below the closing price. Yahoo Finance also said those puts were far above the prior number of outstanding put contracts at a $40.00 strike, and that the premium paid to the short-sellers was $8.57.
Beyond the Bitcoin-linked trading, Yahoo Finance noted that Iren is shifting toward AI-related data center work and received financing last week for GPU servers totaling $2.4 billion. The outlet also pointed to prior GPU financing of $6.5 billion over the last three months and said recent results showed Bitcoin mining revenue of $66.7 million versus $70.5 million from AI cloud services for the quarter ended June 30, 2026.
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