Stock Traders Purchase High Volume of T-REX 2X Long IREN Daily Target ETF Put Options (BATS:IREX)

T-REX 2X Long IREN Daily Target ETF (BATS:IREX) saw some unusual options trading on Friday. Stock investors purchased 2,201 put options on the stock. This is an increase of 166% compared to the typical daily volume of 828 put options.

T-REX 2X Long IREN Daily Target ETF Stock Down 2.5%

IREX stock traded down $0.25 during midday trading on Friday, hitting $9.77. The stock had a trading volume of 436,852 shares, compared to its average volume of 1,143,306. T-REX 2X Long IREN Daily Target ETF has a 52 week low of $8.06 and a 52 week high of $155.28.

T-REX 2X Long IREN Daily Target ETF (BATS:IREX) is an exchange-traded fund designed to provide approximately twice the daily performance of IREN Limited, before fees and expenses. The fund seeks its investment objective primarily through derivatives and other financial instruments rather than by directly owning IREN’s common stock.

IREX is intended for investors seeking leveraged, short-term exposure to movements in IREN’s share price. Because its exposure is reset daily, the fund’s return over periods longer than one trading day may differ significantly from two times IREN’s cumulative return, particularly in volatile markets.

The ETF is part of the T-REX leveraged ETF lineup and trades on the Cboe BZX Exchange.