We present the results of a joint ROSAT High Resolution Imager (HRI) and optical investigation of the open cluster IC 4665. The ROSAT data contains detections for 28 stellar sources in the field, including 22 cluster members and candidate members spanning the color range -0.18 less than or equal to (B - V(sub o)) less than or equal to +1.63 (approx. B3 - M3). Upper limits are given for the remaining members (or candidate members) in the HRI field. Keck HIRES spectra have been obtained that yield radial and rotational velocity measures, respectively, for faint, low mass candidate members located within the field of the ROSAT HRI observation. In addition, photometry of possible optical counterparts to previously uncatalogued X-ray sources in the HRI field is presented. The trends in X-ray properties with (B - V) color in IC 4665 are found to be quite similar to that for other, more nearby young clusters such as the Pleiades and alpha Persei. In particular, a maximum in normalized X-ray luminosity of log (L(sub x)/L(sub bol)) approx. equal 3 is observed, beginning in the color range of (B - V)(sub o) = 0.7 - 0.8. This is similar to the corresponding color range among Pleiades members, in agreement with the earlier estimate, that the age of IC 4665 is similar to the age of the Pleiades. The correlation of rotation and X-ray emission levels is consistent with that in other young clusters. Among the high mass stars in IC 4665, five B stars are detected as X-ray sources. Of these, one is a spectroscopic binary while the remaining objects are apparently single staxs. The level of intrinsic X-ray emission observed in the rapidly rotating (v sini greater than 200 km/ s), single B stars is consistent with an origin due to shock heating of the ambient medium by radiatively driven, rotationally enhanced winds. On the basis of these observations and the results for other clusters, we argue that observed levels of X-ray emission in high mass stars of log (L(sub x)/L(sub bol)) greater than -6.0 are likely due to intrinsic emission associated with the B stax itself rather than emission from a late-type secondary. Finally, our results suggest that the initial angular momentum distributions and the subsequent evolution of rotation, L(sub x), and (L(sub x)/L(sub bol)) occur in practically identical fashions in clusters with ages approx. less than 100 Myr.