QLD Options History — January 2025

In January 2025, QLD traded between $52.25 and $58.30. ATM implied volatility averaged 37.7%, placing in the 20.2% IV rank vs the trailing year. The 30-day expected move averaged 10.4%. IV traded below realized volatility by 5.1% (HV 20d: 42.8%). Max pain ranged from $48.00 to $57.50. Net GEX was positive for 12 of 20 trading days. Term structure was in contango for 16 of 20 days. Put/call ratio averaged 0.58.

Notable Days

  • 2025-01-31: Highest Volume — 6,178 contracts
  • 2025-01-15: Largest IV drop — 29.9% change
  • 2025-01-13: Highest IV Rank — 46.2%
  • 2025-01-10: Largest Expected Move — 12.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$55.40$52.25$58.30$53.76$55.91
Max Pain$54.73$48.00$57.50$48.00$57.00
ATM IV37.7%31.3%52.6%38.9%34.7%
Expected Move10.4%9.0%12.3%11.2%10.0%
HV 20d42.8%38.5%46.9%41.1%42.6%
HV 60d37.8%35.5%40.5%35.5%39.1%
IV Rank20.2%9.0%46.2%22.3%15.0%
IV Percentile60.9%28.6%96.0%74.6%48.0%
Term Structure1.0%-1.9%4.8%0.4%0.5%
VWIV35.2%27.4%42.1%39.3%36.0%
Skew 25d9.1%4.9%14.1%9.5%8.1%
Skew 10d18.9%-0.7%37.8%17.3%15.7%
Call IV 25d31.6%26.9%36.0%36.0%33.8%
Put IV 25d40.7%32.6%48.8%45.5%41.9%
Bid-Ask Spread %51.1624.4782.2582.2546.64
Gamma HHI0.080.060.110.080.06
Net GEX199.7K-275.2K1.0M166.1K-103.9K
Net DEX-62.6M-109.2M-29.3M-65.6M-41.5M
Net VEX-307.3K-339.7K-284.3K-289.9K-339.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.580.131.650.130.47
Total Volume2,740.86886,1781,9186,178
Total OI41,491.125,31454,11245,71235,276

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-01-02$53.76$48.0038.9%11.2%41.1%22.3%39.3%9.5%0.4%166.1K-65.6M-289.9K0.1382.25N/AN/A1,69822029,64416,068
2025-01-03$55.59$49.0035.3%10.1%41.8%16.0%33.7%7.5%0.4%399.3K-81.6M-299.6K0.3075.53N/AN/A1,72852229,85216,170
2025-01-06$56.72$54.5036.1%10.3%42.4%17.5%34.3%10.6%0.9%964.1K-94.2M-292.2K0.1438.12N/AN/A3,25445830,59616,274
2025-01-07$54.63$52.0043.0%11.8%44.0%29.4%42.1%14.1%-1.2%439.5K-73.8M-292.6K0.4249.26N/AN/A1,41859032,36616,336
2025-01-08$54.78$51.5038.4%10.8%43.6%21.4%27.4%10.5%2.0%292.7K-75.2M-298.6K0.2944.57N/AN/A1,24236232,69616,676
2025-01-10$53.08$52.5045.4%12.3%44.9%33.6%37.8%10.6%0.1%-244.8K-61.5M-286.6K0.2451.82N/AN/A2,98270632,69416,222
2025-01-13$52.56$53.0052.6%11.7%42.2%46.2%40.5%11.1%1.2%-275.2K-58.1M-284.3K0.6539.23N/AN/A2,0541,33033,57016,692
2025-01-14$52.25$52.5049.8%11.2%42.1%41.2%33.8%8.8%1.0%-99.4K-59.0M-284.8K1.2365.42N/AN/A1,4781,81634,59016,830
2025-01-15$55.20$55.5034.9%10.0%46.9%15.3%33.9%8.9%1.2%457.3K-91.7M-289.5K0.6535.23N/AN/A2,9381,91435,02217,382
2025-01-16$54.72$55.5035.4%10.2%45.4%16.2%35.3%7.9%2.4%261.3K-83.7M-287.6K1.6567.42N/AN/A9601,58635,10017,814
2025-01-17$56.21$55.5031.4%9.0%46.7%9.3%31.0%7.0%4.8%1.0M-109.2M-296.1K0.4963.34N/AN/A2,1921,06435,17018,942
2025-01-21$56.70$55.5031.3%9.0%38.5%9.0%30.6%4.9%3.2%288.5K-45.4M-301.7K0.7461.00N/AN/A2,7662,05016,2849,030
2025-01-22$58.30$57.5032.0%9.2%39.5%10.2%32.8%6.1%2.5%256.1K-55.0M-320.8K0.3830.43N/AN/A2,00076818,05410,868
2025-01-23$58.01$57.5032.1%9.2%39.2%10.4%33.8%6.6%1.9%332.7K-53.8M-325.3K0.6824.47N/AN/A47432418,89811,406
2025-01-24$57.56$57.5032.4%9.3%39.2%11.0%32.5%6.8%2.2%247.3K-51.3M-326.6K0.3443.31N/AN/A51217619,15211,708
2025-01-27$54.20$57.5040.0%11.5%43.9%24.1%39.7%11.5%-1.9%-180.7K-29.3M-320.6K0.8743.44N/AN/A2,1041,83419,29611,834
2025-01-28$56.09$57.5037.0%10.6%45.7%18.9%35.7%8.9%-0.8%-61.6K-42.0M-336.0K0.4338.80N/AN/A79234019,75413,548
2025-01-29$55.72$57.5037.8%10.8%43.6%20.3%37.1%13.9%-1.2%-108.5K-39.5M-336.7K0.6962.66N/AN/A42829620,06813,696
2025-01-30$55.95$57.5035.8%10.3%43.4%16.9%37.2%8.5%0.7%-69.5K-41.2M-336.7K0.8260.25N/AN/A69456820,34813,896
2025-01-31$55.91$57.0034.7%10.0%42.6%15.0%36.0%8.1%0.5%-103.9K-41.5M-339.7K0.4746.64N/AN/A4,1961,98220,83014,446