QLD Options History — February 2025

In February 2025, QLD traded between $51.37 and $59.45. ATM implied volatility averaged 36.7%, placing in the 18.4% IV rank vs the trailing year. The 30-day expected move averaged 10.8%. IV traded above realized volatility by 1.1% (HV 20d: 35.6%). Max pain ranged from $55.00 to $57.50. Net GEX was positive for 13 of 19 trading days. Term structure was in contango for 8 of 19 days. Put/call ratio averaged 1.25.

Notable Days

  • 2025-02-21: Highest Volume — 9,234 contracts
  • 2025-02-21: Largest IV spike — 22.2% change
  • 2025-02-27: Highest IV Rank — 41.0%
  • 2025-02-27: Largest Expected Move — 14.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$56.42$51.37$59.45$55.25$51.81
Max Pain$56.16$55.00$57.50$57.50$57.50
ATM IV36.7%29.2%49.6%41.5%46.8%
Expected Move10.8%8.4%14.2%11.9%13.4%
HV 20d35.6%27.4%42.7%42.7%33.0%
HV 60d37.5%35.9%39.2%39.2%38.9%
IV Rank18.4%5.3%41.0%26.8%36.1%
IV Percentile54.3%13.5%94.8%82.1%92.1%
Term Structure-0.8%-5.1%4.7%-1.9%-3.2%
VWIV38.6%32.1%45.2%43.2%45.2%
Skew 25d10.0%5.9%13.1%10.2%12.9%
Skew 10d17.2%-4.5%35.0%18.5%29.1%
Call IV 25d32.6%26.5%42.7%36.4%40.0%
Put IV 25d42.5%32.4%54.2%46.5%52.9%
Bid-Ask Spread %39.4122.2471.4842.6935.02
Gamma HHI0.130.070.280.080.07
Net GEX928.0K-693.7K4.9M31.4K-613.2K
Net DEX-48.5M-85.7M-9.8M-35.9M-11.0M
Net VEX-339.6K-383.0K-304.3K-352.6K-366.7K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.250.194.301.000.59
Total Volume2,756.1055369,2341,5322,016
Total OI41,491.89532,49248,50239,57038,828

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-02-03$55.25$57.5041.5%11.9%42.7%26.8%43.2%10.2%-1.9%31.4K-35.9M-352.6K1.0042.69N/AN/A76676623,71215,858
2025-02-04$56.39$57.5037.0%10.6%41.7%18.9%39.1%9.0%0.5%357.6K-46.2M-351.1K1.0743.43N/AN/A53056823,86615,958
2025-02-05$56.62$57.0035.9%10.3%41.0%17.0%38.1%8.4%1.1%413.6K-48.8M-348.2K1.2046.13N/AN/A24429224,07416,358
2025-02-06$57.25$55.0033.4%11.0%38.7%12.6%42.6%10.4%-1.3%736.9K-54.5M-343.7K2.6823.20N/AN/A3981,06624,14216,488
2025-02-07$56.09$55.0030.3%10.3%39.6%7.2%36.4%10.4%0.2%7.0K-42.4M-339.6K4.3044.23N/AN/A3881,66824,20216,642
2025-02-10$57.42$55.0031.8%10.0%38.3%9.8%38.6%9.7%-1.6%864.4K-55.9M-328.0K0.7241.38N/AN/A1,19486224,22616,764
2025-02-11$57.08$55.0032.4%10.1%38.2%11.0%37.2%10.1%0.9%725.5K-53.4M-329.6K2.0645.85N/AN/A5521,13825,06016,928
2025-02-12$57.12$55.0035.1%10.1%38.0%15.6%34.3%8.6%0.1%335.1K-51.9M-327.7K1.8242.73N/AN/A6241,13624,90017,780
2025-02-13$58.65$55.0034.0%9.7%34.1%13.7%35.5%9.4%-0.2%2.0M-68.1M-321.2K0.4446.13N/AN/A2,8461,24624,86218,110
2025-02-14$59.31$55.0031.6%9.1%33.9%9.6%36.5%9.0%-2.6%3.4M-80.6M-324.0K2.4334.67N/AN/A1,1842,87626,26418,568
2025-02-18$59.17$55.0034.1%9.8%32.9%13.9%39.0%9.0%-0.7%3.6M-79.4M-315.6K1.0633.36N/AN/A93098826,49619,980
2025-02-19$59.45$55.0032.5%9.3%32.8%11.1%34.7%8.9%1.1%4.9M-85.7M-304.3K0.2535.03N/AN/A3,33082626,56420,420
2025-02-20$58.89$56.0029.2%8.4%31.7%5.3%32.1%5.9%4.7%3.6M-78.2M-324.7K0.7771.48N/AN/A1,3561,04827,56220,780
2025-02-21$56.54$56.5035.7%10.2%34.9%16.6%34.6%7.4%1.3%-366.0K-38.8M-326.1K1.5851.13N/AN/A3,5785,65627,34021,162
2025-02-24$55.66$57.5040.0%11.5%35.2%24.2%40.1%12.6%-3.7%-594.4K-33.2M-347.6K0.9822.24N/AN/A2,0642,01818,93613,556
2025-02-25$53.86$57.5041.9%12.0%30.2%27.6%40.8%13.0%-0.6%-693.7K-21.1M-352.8K0.1927.72N/AN/A4,38683620,44015,162
2025-02-26$54.15$57.5044.5%12.8%27.4%32.0%40.3%13.1%-4.1%-577.3K-26.6M-383.0K0.2727.86N/AN/A95025622,09415,786
2025-02-27$51.37$57.5049.6%14.2%32.8%41.0%44.4%11.4%-5.1%-544.0K-9.8M-366.1K0.3634.40N/AN/A1,31646822,61815,860
2025-02-28$51.81$57.5046.8%13.4%33.0%36.1%45.2%12.9%-3.2%-613.2K-11.0M-366.7K0.5935.02N/AN/A1,26475222,79016,038