Iris Energy (IREN) Soars Over 100% Since March Amid Strong Bullish Option Flows and Leads Bitcoin Miners

Iris Energy (IREN) has experienced a significant bullish trend, with its stock price rising over 100% since March when profiled. The company has seen substantial bullish option flows, with 18,600 calls trading, doubling the expected volume and increasing implied volatility by over 9 points to 106.77%. The Put/Call Ratio stands at 0.14. IREN's stock price broke above a six-month resistance line and is currently at $10.15, up from 9.88 +0.81. The company is leading among Bitcoin miners, with a year-to-date increase of 65%, surpassing CleanSpark (CLSK) at 59%. Additionally, there has been notable activity in September $12.50 calls, with 6,000 contracts traded at $2.13. Earnings for IREN are expected on September 12.