QLD Options History — March 2025

In March 2025, QLD traded between $44.28 and $51.35. ATM implied volatility averaged 50.3%, placing in the 42.1% IV rank vs the trailing year. The 30-day expected move averaged 14.6%. IV traded above realized volatility by 0.5% (HV 20d: 49.8%). Max pain ranged from $37.50 to $57.50. Net GEX was positive for 13 of 21 trading days. Term structure was in contango for 1 of 21 days. Put/call ratio averaged 0.77.

Notable Days

  • 2025-03-13: Highest Volume — 8,540 contracts
  • 2025-03-10: Largest IV spike — 29.9% change
  • 2025-03-10: Highest IV Rank — 81.9%
  • 2025-03-10: Largest Expected Move — 20.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$47.21$44.28$51.35$49.84$44.42
Max Pain$49.25$37.50$57.50$57.50$45.00
ATM IV50.3%39.5%73.1%56.6%49.9%
Expected Move14.6%11.1%20.9%16.2%13.1%
HV 20d49.8%35.2%60.0%35.2%58.9%
HV 60d43.4%39.2%46.3%39.4%46.2%
IV Rank42.1%23.4%81.9%53.2%41.5%
IV Percentile88.3%66.7%99.6%97.6%91.7%
Term Structure-4.1%-11.4%0.1%-7.6%-3.6%
VWIV47.8%26.7%68.2%52.4%46.1%
Skew 25d12.6%8.1%18.7%18.7%13.3%
Skew 10d23.7%-0.7%46.3%25.4%30.6%
Call IV 25d41.8%35.0%48.9%48.2%44.2%
Put IV 25d54.4%45.2%66.9%66.9%57.6%
Bid-Ask Spread %44.1610.2769.6352.4523.81
Gamma HHI0.090.050.260.060.06
Net GEX331.8K-514.0K1.3M-456.4K565.3K
Net DEX-13.4M-48.1M18.6M-797.6K-23.9M
Net VEX-345.5K-373.4K-318.3K-347.8K-332.4K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.770.094.570.590.83
Total Volume3,689.0488988,5402,3762,234
Total OI42,015.04831,16448,51039,63235,708

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-03-03$49.84$57.5056.6%16.2%35.2%53.2%52.4%18.7%-7.6%-456.4K-797.6K-347.8K0.5952.45N/AN/A1,49288423,40016,232
2025-03-04$50.63$57.5053.9%15.5%35.9%48.4%49.7%14.3%-6.7%-514.0K-7.2M-364.6K0.3538.17N/AN/A4,9061,74024,12816,700
2025-03-05$51.35$56.5051.2%14.7%35.4%43.7%53.4%8.7%-0.2%-289.5K-14.1M-373.4K0.9942.28N/AN/A90489425,90217,130
2025-03-06$48.39$56.0060.7%17.4%40.2%60.3%55.3%14.6%-8.3%-300.7K4.8M-350.1K0.1740.42N/AN/A5,08486226,30217,828
2025-03-07$48.95$55.0056.2%16.1%40.2%52.5%54.6%14.9%-6.0%-348.0K2.5M-359.2K1.6951.48N/AN/A1,3642,30427,12618,286
2025-03-10$45.21$55.0073.1%20.9%47.5%81.9%68.2%17.2%-6.4%-117.3K18.6M-318.3K0.6059.23N/AN/A3,0961,87227,58817,914
2025-03-11$45.69$54.5058.9%19.8%46.5%57.2%62.9%14.1%-11.4%-134.2K14.3M-332.0K0.2567.34N/AN/A2,14052628,14218,162
2025-03-12$46.13$54.0052.7%18.2%47.0%46.3%57.1%15.1%-6.6%-109.9K3.9M-330.8K0.0962.25N/AN/A3,22027828,87616,220
2025-03-13$44.28$53.5054.0%19.4%48.0%48.7%59.5%12.1%-6.7%88.1K9.4M-326.3K4.5751.83N/AN/A1,5327,00830,84016,184
2025-03-14$46.40$52.5047.8%14.6%50.6%37.7%50.2%12.3%-4.4%86.0K-8.5M-341.6K0.4461.20N/AN/A3,4661,53431,09614,286
2025-03-17$47.59$37.5045.2%12.1%51.7%33.2%26.7%11.2%-2.3%700.7K-20.0M-350.6K0.4763.15N/AN/A4,5782,14433,74814,762
2025-03-18$45.55$37.5048.7%12.9%52.9%39.4%43.4%11.0%-3.2%739.5K-5.8M-338.4K0.2969.63N/AN/A1,00629433,38014,656
2025-03-19$47.17$37.5043.4%12.1%55.3%30.0%34.6%8.1%-1.9%1.3M-24.5M-344.9K0.4265.26N/AN/A1,72672833,24012,960
2025-03-20$46.52$0.0043.8%12.7%55.3%30.8%46.1%10.6%0.1%1.3M-18.6M-336.4K1.7556.53N/AN/A1,0461,82633,75612,790
2025-03-21$46.31$44.0041.4%12.0%54.2%26.7%36.7%12.2%-0.7%500.4K-20.8M-333.4K0.7727.49N/AN/A2,6462,02834,07211,348
2025-03-24$48.76$44.0040.7%11.1%58.4%25.4%35.3%10.4%-2.2%617.2K-41.2M-348.1K0.2925.59N/AN/A4,7101,36623,2547,910
2025-03-25$49.23$45.0039.5%11.3%57.8%23.4%41.0%11.1%-0.8%985.1K-48.1M-370.2K0.1821.68N/AN/A1,15021025,8768,140
2025-03-26$47.41$48.0044.6%12.1%58.8%32.2%43.2%11.7%-2.7%902.6K-38.9M-360.6K0.4418.35N/AN/A80235026,3608,222
2025-03-27$47.30$47.5043.5%12.0%56.3%30.3%43.0%10.7%-1.8%888.2K-38.4M-363.2K0.3818.85N/AN/A65224626,4108,358
2025-03-28$44.32$47.0050.3%13.4%60.0%42.1%45.5%13.3%-3.6%606.9K-24.0M-334.0K0.5310.27N/AN/A1,71091226,5268,498
2025-03-31$44.42$45.0049.9%13.1%58.9%41.5%46.1%13.3%-3.6%565.3K-23.9M-332.4K0.8323.81N/AN/A1,2181,01626,7228,986