IREN · Wheel

IREN Limited (IREN) wheel

The cash-secured put → assigned shares → covered call cycle for this ticker.

$38.69
Modelled strike
$30.00
Modelled premium
$0.41
Cash required
$3,000.00
Breakeven
$29.59
Downside buffer
23.5%
Period return
1.4%
Annualized return
18.5%
Days to expiration
29
Strategy payoffModelled cash-secured put payoff. Spot $38.69. Expiry maximum profit $41.00 · Expiry maximum loss -$2,959.00 · Expiry breakevens $29.59. Total position fees $0.00 deducted once. Intrinsic at the common expiration; IV/time never alters expiry P/L. No early exercise, assignment, slippage, dividends or taxes modeled.

Update time unavailable

Loading graph — the exact table is available below.

$19.345Expiration P/L -$1,024.50Update time unavailable
Event / reference markers
  • Spot: $38.69
  • Expiry breakeven $29.59: $29.59
  • sell put strike $30.00: $30.00
Exact data table
Strategy payoff · full stored dataset, independent of graph range/toggles
ObservationExpiration P/L (USD)ContextUpdated
-$1,024.50Update time unavailable
-$985.81Update time unavailable
-$947.12Update time unavailable
-$908.43Update time unavailable
-$869.74Update time unavailable
-$831.05Update time unavailable
-$792.36Update time unavailable
-$753.67Update time unavailable
-$714.98Update time unavailable
-$676.29Update time unavailable
-$637.60Update time unavailable
-$598.91Update time unavailable
-$560.22Update time unavailable
-$521.53Update time unavailable
-$482.84Update time unavailable
-$444.15Update time unavailable
-$405.46Update time unavailable
-$366.77Update time unavailable
-$328.08Update time unavailable
-$289.39Update time unavailable
-$250.70Update time unavailable
-$212.01Update time unavailable
-$173.32Update time unavailable
-$134.63Update time unavailable
-$95.94Update time unavailable
-$57.25Update time unavailable
-$18.56Update time unavailable
-$0.00Update time unavailable
$20.13Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Spot referenceUpdate time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable
$41.00Update time unavailable

Black-Scholes from the published at-the-money implied volatility (one expected move out of the money). If assigned you buy 100 shares at the strike, an effective $29.59 per share after premium; the shares can keep falling.

Stage C would sell a $47.00 call for about $0.93, lowering the effective basis further.

Next steps

Data provenance

Figures are from published, reviewed research as of Oct 7, 2026, 4:00 PM EDT. Modelled option premiums use Black-Scholes with the published at-the-money implied volatility and are labelled as modelled, not as live quotes.