Trade Alert: Top Names

Two bullish bets on a stock that fits in with a couple of our interlocked macro trends in AI and crypto.

Two Trades, One Theme

Last night’s Portfolio Armor Top Ten list surfaced a name that slots neatly into the “Reindustrialization, Embodied AI, Energy” framework I laid out over the weekend:

The company isn’t fashionable in the way the mega-cap AI winners are, but it sits on the plumbing side of the trend: compute and power need real‑world infrastructure; this firm provides a piece of that.

It’s a datacenter/Bitcoin miner pivoting into high‑density AI compute capacity. That makes it a clean fit with our macro themes: AI build‑out → massive energy/computation demand → real‑world infrastructure providers.

Given the setup—elevated front‑month volatility into earnings and still‑reasonable longer‑dated premium—we’re taking two complementary option positions:

• A short‑term trade that benefits if the stock simply doesn’t crash.

• A longer‑dated trade that lets us capture a bigger move higher without open‑ended capital risk.

Details below.

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Today’s First Top Names Trade

The stock is Iris Energy (IREN 0.00%↑) —#2 on last night’s PA Top Ten, and our first trade is a vertical spread expiring on August 29th, buying the $15 strike puts and selling the $18.50 strike puts, for a net credit of $1.60. The max gain on 2 contracts is $320, the max loss is $3.80, and the break even is with IREN at $16.90. This trade partially filled at $1.60.

Today’s Second Top Names Trade

The stock remains the same, IREN, but this time we’re opening a vertical spread expiring on January 16th, buying the $20 strike calls and selling the $30 strike calls, for a net debit of $2.20. The max gain on 2 contracts is $1,560, the max loss is $440, and the break even is with IREN at $22.20. This trade filled at $2.14.

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Exiting These Trades

I’m going to open a GTC order to exit the put spread at a net debit of $0.20, and raise that price, if necessary, as we approach expiration, and I’m going to open a GTC order to exit the call spread at a net credit of $9.50, and lower that, if necessary, as we approach expiration.