Options Traders Load Up on This Struggling Data Center Stock

Options activity is rising for IREN Ltd (NASDAQ: IREN), a data center and AI infrastructure stock described as “struggling.” Over the past two weeks, IREN saw more than 4.7 million call options and 3 million put options exchanged, according to Senior Quantitative Analyst Rocky White’s list. The January 2027 40-strike call reportedly holds peak open interest, while the most active contracts today are the Nov. 22 and Nov. 25 calls. Shares were down 0.6% to trade at $21.50, after J.P. Morgan Securities cut its price target to $55 from $65. The stock hit a 52-week low of $17.15 and is down 43% year-to-date.