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IREN options analytics

IREN · Stock

Data as of 23 September 2026 (end of day)

IREN options are pricing a 30-day at-the-money volatility of 79.3%, a move of about ±22.7% over the next month. Its history here is 5 sessions, short of the 180 a percentile needs, so this reading is not yet ranked against its own past.

Its 25-delta calls carry 1.80 volatility points more than the puts.

Longer-dated options carry more: 90-day volatility is 10% above 30-day.

Its next earnings report is 2026-11-08 (estimated from its reporting cadence).

Current readings

30-day ATM implied volatilityⓘ
79.27%

Prices a move of about ±22.7% over 30 days, or ±5.0% on a typical day.

25-delta risk reversalⓘ
-1.80

Calls carry 1.80 volatility points more than puts the same distance from the money.

25-delta butterflyⓘ
+0.05

The wings carry about the same volatility as at-the-money.

Term structure slopeⓘ
1.096

90-day volatility is 10% above 30-day.

Where 30-day implied volatility sits

Against 5 prior sessions (one-year window)

Not enough history in this window to place the current reading.

IV percentile, 1 year
—
IV rank, 1 year
—
IV percentile, 2 years
—
IV rank, 2 years
—

Rank is the position between the lowest and highest readings in the window, so a single past extreme pins everything after it near one end. Percentile is the share of sessions below the current reading and is unaffected by how far that extreme reached. Both are withheld when the window holds fewer than 180 sessions.

Session detail

Underlying close
$47.05
30-day implied forward
$48.03
60-day ATM IV
87.70%
90-day ATM IV
86.90%
180-day ATM IV
88.54%
Expirations used
11
Total open interest
2,120,746
Put / call open interest
0.72

The forward is derived from put-call parity on the strikes nearest the money, not taken from the underlying close. It is what every moneyness and delta on this page is measured against.

30-day at-the-money implied volatility

Last 5 sessions

79%80%81%82%83%2026-09-17 — 30-day ATM IV 80%2026-09-18 — 30-day ATM IV 82%2026-09-21 — 30-day ATM IV 83%2026-09-22 — 30-day ATM IV 81%2026-09-23 — 30-day ATM IV 79%17 Sep18 Sep21 Sep22 Sep23 Sep
Show the underlying numbers (most recent 5)
Session30-day ATM IV25-delta RRTerm slopeClose
2026-09-2379.27%-1.801.096$47.05
2026-09-2280.66%-2.861.099$48.55
2026-09-2182.54%-1.501.084$47.23
2026-09-1881.84%-2.231.084$46.68
2026-09-1779.67%-2.341.094$43.48

The chart covers every session in the archive, 5 in total. The table lists the most recent 5.

25-delta risk reversal

Last 5 sessions

-4.0-3.0-2.0-1.00.01.02026-09-17 — 25-delta RR (volatility points) -2.32026-09-18 — 25-delta RR (volatility points) -2.22026-09-21 — 25-delta RR (volatility points) -1.52026-09-22 — 25-delta RR (volatility points) -2.92026-09-23 — 25-delta RR (volatility points) -1.817 Sep18 Sep21 Sep22 Sep23 Sep

The dashed line marks zero, where the 25-delta put and call carry the same implied volatility.

Skew curve

Implied volatility by delta, front expirations

Implied volatility by delta

2d (2026-09-25) · 9d (2026-10-02) · 16d (2026-10-09)

70%80%90%100%110%2026-09-25 (2d) — 5Δ C — IV 105.14%2026-09-25 (2d) — 10Δ C — IV 96.91%2026-09-25 (2d) — 15Δ C — IV 93.30%2026-09-25 (2d) — 20Δ C — IV 90.62%2026-09-25 (2d) — 25Δ C — IV 89.11%2026-09-25 (2d) — 30Δ C — IV 88.45%2026-09-25 (2d) — 35Δ C — IV 87.53%2026-09-25 (2d) — 40Δ C — IV 86.75%2026-09-25 (2d) — 45Δ C — IV 86.60%2026-09-25 (2d) — ATM — IV 86.41%2026-09-25 (2d) — 45Δ P — IV 85.96%2026-09-25 (2d) — 40Δ P — IV 85.88%2026-09-25 (2d) — 35Δ P — IV 85.94%2026-09-25 (2d) — 30Δ P — IV 85.96%2026-09-25 (2d) — 25Δ P — IV 85.52%2026-09-25 (2d) — 20Δ P — IV 84.40%2026-09-25 (2d) — 15Δ P — IV 85.88%2026-09-25 (2d) — 10Δ P — IV 87.11%2026-09-25 (2d) — 5Δ P — IV 92.44%2d2026-10-02 (9d) — 5Δ C — IV 93.12%2026-10-02 (9d) — 10Δ C — IV 85.05%2026-10-02 (9d) — 15Δ C — IV 81.69%2026-10-02 (9d) — 20Δ C — IV 80.27%2026-10-02 (9d) — 25Δ C — IV 79.59%2026-10-02 (9d) — 30Δ C — IV 78.71%2026-10-02 (9d) — 35Δ C — IV 78.77%2026-10-02 (9d) — 40Δ C — IV 78.95%2026-10-02 (9d) — 45Δ C — IV 78.62%2026-10-02 (9d) — ATM — IV 78.07%2026-10-02 (9d) — 45Δ P — IV 78.85%2026-10-02 (9d) — 40Δ P — IV 77.97%2026-10-02 (9d) — 35Δ P — IV 77.64%2026-10-02 (9d) — 30Δ P — IV 77.46%2026-10-02 (9d) — 25Δ P — IV 77.26%2026-10-02 (9d) — 20Δ P — IV 77.42%2026-10-02 (9d) — 15Δ P — IV 78.44%2026-10-02 (9d) — 10Δ P — IV 78.95%2026-10-02 (9d) — 5Δ P — IV 83.47%9d2026-10-09 (16d) — 5Δ C — IV 91.35%2026-10-09 (16d) — 10Δ C — IV 84.84%2026-10-09 (16d) — 15Δ C — IV 82.80%2026-10-09 (16d) — 20Δ C — IV 81.46%2026-10-09 (16d) — 25Δ C — IV 79.86%2026-10-09 (16d) — 30Δ C — IV 79.25%2026-10-09 (16d) — 35Δ C — IV 78.40%2026-10-09 (16d) — 40Δ C — IV 78.21%2026-10-09 (16d) — 45Δ C — IV 77.62%2026-10-09 (16d) — ATM — IV 77.60%2026-10-09 (16d) — 45Δ P — IV 76.95%2026-10-09 (16d) — 40Δ P — IV 77.85%2026-10-09 (16d) — 35Δ P — IV 77.16%2026-10-09 (16d) — 30Δ P — IV 76.27%2026-10-09 (16d) — 25Δ P — IV 76.55%2026-10-09 (16d) — 20Δ P — IV 76.83%2026-10-09 (16d) — 15Δ P — IV 78.13%2026-10-09 (16d) — 10Δ P — IV 79.19%2026-10-09 (16d) — 5Δ P — IV 84.02%16d10Δ C25Δ CATM25Δ P10Δ Pout-of-the-money calls ← delta → out-of-the-money puts

The axis is call delta. Readings to the right of the dashed centre line are taken from the out-of-the-money put at that strike, which is the contract whose quote the volatility was solved from. Points are only plotted where surviving quotes bracket the delta on both sides; nothing is extrapolated past the last traded strike.

Show the underlying numbers
Delta2d9d16d
5Δ call105.14%93.12%91.35%
10Δ call96.91%85.05%84.84%
15Δ call93.30%81.69%82.80%
20Δ call90.62%80.27%81.46%
25Δ call89.11%79.59%79.86%
30Δ call88.45%78.71%79.25%
35Δ call87.53%78.77%78.40%
40Δ call86.75%78.95%78.21%
45Δ call86.60%78.62%77.62%
ATM86.41%78.07%77.60%
45Δ put85.96%78.85%76.95%
40Δ put85.88%77.97%77.85%
35Δ put85.94%77.64%77.16%
30Δ put85.96%77.46%76.27%
25Δ put85.52%77.26%76.55%
20Δ put84.40%77.42%76.83%
15Δ put85.88%78.44%78.13%
10Δ put87.11%78.95%79.19%
5Δ put92.44%83.47%84.02%

Wing readings by expiration

ExpirationDaysForwardATM IV25Δ put25Δ callRRButterflyQuotes
2026-09-252$47.7586.41%85.52%89.11%-3.59+0.9040
2026-10-029$47.8078.07%77.26%79.59%-2.33+0.3558
2026-10-0916$47.8777.60%76.55%79.86%-3.31+0.6048
2026-10-1623$47.9278.84%77.95%81.14%-3.19+0.7164
2026-10-2330$48.0379.27%78.41%80.22%-1.80+0.0535
2026-10-3037$48.0879.92%79.85%82.91%-3.06+1.4632
2026-11-2058$48.0887.79%87.50%90.48%-2.98+1.2041
2026-12-1886$48.4086.87%86.65%89.21%-2.56+1.0646
2027-01-15114$48.4987.04%87.05%89.26%-2.20+1.1235
2027-02-19149$48.7887.79%87.56%91.37%-3.80+1.6730
2027-06-17267$49.5689.69%89.32%93.03%-3.71+1.4827

Each curve above is one expiration. The vertical position is implied volatility; the horizontal position is the delta of the contract it was read from. For US equities the curve normally slopes upward to the right, meaning out-of-the-money puts carry higher implied volatility than equidistant calls.

The 25-delta risk reversal summarises that slope as a single number: the 25-delta put volatility minus the 25-delta call volatility. The butterfly summarises the curvature: the average of the two wings minus the at-the-money reading.

Term structure

At-the-money implied volatility by expiration

At-the-money implied volatility by expiration

11 listed expirations produced a usable reading

75%80%85%90%95%2026-09-25 — 2 days — at-the-money IV 86.41%2026-10-02 — 9 days — at-the-money IV 78.07%2026-10-09 — 16 days — at-the-money IV 77.60%2026-10-16 — 23 days — at-the-money IV 78.84%2026-10-23 — 30 days — at-the-money IV 79.27%2026-10-30 — 37 days — at-the-money IV 79.92%2026-11-20 — 58 days — at-the-money IV 87.79%2026-12-18 — 86 days — at-the-money IV 86.87%2027-01-15 — 114 days — at-the-money IV 87.04%2027-02-19 — 149 days — at-the-money IV 87.79%2027-06-17 — 267 days — at-the-money IV 89.69%7306090180days to expiration

The horizontal axis is the square root of days to expiration, which is the scale volatility lives on. A curve that is flat in variance terms plots as a straight line here rather than bending sharply through the front week.

Show the underlying numbers
ExpirationDaysForwardATM IVATM strikeQuotes used
2026-09-252 days$47.7586.41%$47.8440
2026-10-029 days$47.8078.07%$48.1658
2026-10-0916 days$47.8777.60%$48.5148
2026-10-1623 days$47.9278.84%$48.8764
2026-10-2330 days$48.0379.27%$49.2835
2026-10-3037 days$48.0879.92%$49.6632
2026-11-2058 days$48.0887.79%$51.1141
2026-12-1886 days$48.4086.87%$52.9046
2027-01-15114 days$48.4987.04%$54.5835
2027-02-19149 days$48.7887.79%$57.0930
2027-06-17267 days$49.5689.69%$66.5227

Constant maturities

Interpolated between the bracketing listed expirations, in total variance

30 days
79.27%
60 days
87.70%
90 days
86.90%
180 days
88.54%

Interpolation is linear in total variance, not in volatility. Interpolating volatility directly implies a forward variance that can be negative between two expirations. A tenor beyond the longest listed expiration is reported as unavailable rather than extrapolated.

Term structure slope

Last 5 sessions

0.951.001.051.101.152026-09-17 — 90-day over 30-day 1.092026-09-18 — 90-day over 30-day 1.082026-09-21 — 90-day over 30-day 1.082026-09-22 — 90-day over 30-day 1.102026-09-23 — 90-day over 30-day 1.1017 Sep18 Sep21 Sep22 Sep23 Sep

The dashed line marks 1.00, where the 90-day and 30-day at-the-money volatilities are equal. Above it the longer tenor carries the higher volatility.

The term structure is the at-the-money implied volatility of each listed expiration, plotted against how far away that expiration is. Its usual shape for a calm underlying slopes gently upward, because a longer horizon admits more uncertainty.

It inverts when the market prices a dated event: an expiration that captures a scheduled announcement carries the variance of that event on top of ordinary trading, so a shorter contract can print a higher volatility than a longer one.

Earnings

What the options priced in before each report, and what happened

Next report

2026-11-08Time not statedEstimated from its reporting cadence

Reports

Newest first. The implied move is one standard deviation, priced from the session before the release.

ReportSessionImplied ±RealisedRealised / implied
2026-08-27After the close———
2026-07-20Before the open———
2026-05-11After the close———
2026-05-08After the close———
2026-02-05After the close———
2025-11-06After the close———
2025-08-28After the close———

The implied move is read from the at-the-money straddle on the first expiration strictly after the report date, converted to a one-standard-deviation move and divided by the forward. Realised moves are the close-to-close return across the event, measured from the session before the release to the session after it.

Report dates that have already happened come from the company’s own 8-K filing and are exact. A date still in the future is either one the company has announced, or an estimate from its reporting cadence.