IREN Ltd (Symbol: IREN) launched new options trading today for February 2026. Key offerings include a put contract at a $40.00 strike with a current bid of $3.75 and a call contract at a $44.00 strike priced at $4.20.
The put option represents a potential 4% discount from the current share price of $41.47, allowing an investor to lower their effective purchase price to $36.25, should the option be exercised. The odds of this contract expiring worthless stand at 63%. Meanwhile, the covered call option at $44.00 could yield a total return of 16.23% if executed. Its likelihood of expiring worthless is currently estimated at 48%.
Implied volatility for the put is 107%, while the call shows 99% volatility. The actual 12-month volatility stands at 98%, based on the last 250 trading days.
