QLD Options History — April 2025

In April 2025, QLD traded between $33.90 and $45.88. ATM implied volatility averaged 68.3%, placing in the 44.9% IV rank vs the trailing year. The 30-day expected move averaged 18.0%. IV traded below realized volatility by 35.4% (HV 20d: 103.7%). Max pain ranged from $36.00 to $44.50. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 0 of 21 days. Put/call ratio averaged 0.61.

Notable Days

  • 2025-04-24: Highest Volume — 9,884 contracts
  • 2025-04-09: Largest IV drop — 55.9% change
  • 2025-04-04: Highest IV Rank — 100.0%
  • 2025-04-08: Largest Expected Move — 26.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$40.69$33.90$45.88$44.95$43.87
Max Pain$39.67$36.00$44.50$44.50$39.50
ATM IV68.3%49.4%133.0%51.5%54.2%
Expected Move18.0%12.6%26.9%13.1%15.5%
HV 20d103.7%58.8%122.5%58.8%120.4%
HV 60d69.5%45.9%78.8%46.3%78.8%
IV Rank44.9%25.3%100.0%44.3%26.2%
IV Percentile94.6%87.3%100.0%92.5%88.5%
Term Structure-7.0%-21.3%-0.7%-5.9%-5.0%
VWIV61.6%44.1%82.5%47.7%55.1%
Skew 25d20.1%12.1%34.0%14.7%15.6%
Skew 10d39.5%12.9%76.1%18.2%47.6%
Call IV 25d52.0%36.9%71.4%44.3%46.8%
Put IV 25d72.1%49.1%104.4%59.0%62.3%
Bid-Ask Spread %42.1223.3068.2430.1846.95
Gamma HHI0.070.050.130.060.11
Net GEX902.5K284.6K1.9M614.7K1.8M
Net DEX-33.3M-69.7M-188.3K-26.5M-65.1M
Net VEX-377.0K-471.0K-274.7K-344.7K-471.0K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.610.141.450.170.41
Total Volume4,153.0481,4489,8841,7001,448
Total OI44,923.42936,36053,51436,51851,794

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-04-01$44.95$44.5051.5%13.1%58.8%44.3%47.7%14.7%-5.9%614.7K-26.5M-344.7K0.1730.18N/AN/A1,45424627,1209,398
2025-04-02$45.88$44.5049.4%12.6%59.1%40.6%44.1%12.1%-3.0%758.0K-32.9M-352.5K1.0323.30N/AN/A1,3661,40227,4029,212
2025-04-03$41.08$44.5062.3%16.1%67.5%63.1%54.7%20.3%-10.1%318.8K-10.3M-305.6K0.5646.76N/AN/A2,0641,15027,8209,742
2025-04-04$37.18$40.5095.8%20.9%74.4%100.0%64.1%20.7%-9.8%327.7K-3.2M-274.7K0.9964.22N/AN/A3,8463,81828,8489,442
2025-04-07$35.66$40.50122.4%24.0%71.1%100.0%82.5%30.9%-13.7%286.2K-188.3K-280.3K0.3054.60N/AN/A6,7522,04230,42211,546
2025-04-08$33.90$36.00133.0%26.9%71.8%100.0%82.5%33.0%-21.3%284.6K-425.8K-298.4K0.5253.09N/AN/A2,9761,55633,10411,990
2025-04-09$42.48$37.5058.6%16.8%111.6%30.4%58.1%25.3%-6.1%762.7K-39.5M-397.2K0.4060.21N/AN/A5,8982,33033,65210,972
2025-04-10$38.53$37.5074.5%21.4%115.8%45.3%75.3%28.4%-9.6%568.7K-22.8M-367.7K0.7368.24N/AN/A1,29895236,22812,082
2025-04-11$40.72$38.5072.8%20.9%116.4%43.7%69.8%34.0%-13.9%688.4K-31.4M-387.9K0.1753.16N/AN/A2,18036036,66012,324
2025-04-14$41.74$39.0060.2%17.3%116.3%31.9%57.5%21.9%-5.3%922.7K-39.4M-383.8K0.4036.48N/AN/A1,40456037,44412,428
2025-04-15$41.28$40.0056.9%16.3%115.5%28.8%55.1%20.5%-0.7%1.0M-36.3M-375.7K0.3024.95N/AN/A3,5161,05437,89812,568
2025-04-16$38.29$40.0064.8%18.6%117.1%36.2%70.4%19.6%-4.0%886.7K-21.3M-361.9K1.3054.71N/AN/A1,7602,28039,38412,986
2025-04-17$38.90$40.0060.0%17.2%117.4%31.7%63.2%20.7%-4.3%1.3M-25.5M-364.9K0.3931.54N/AN/A2,30689639,92813,586
2025-04-21$36.61$38.5072.9%20.9%118.8%43.8%71.6%16.6%-5.9%452.5K-21.9M-339.8K1.2735.03N/AN/A1,8162,30228,7187,642
2025-04-22$38.66$38.0065.7%18.8%119.1%37.1%62.9%15.1%-9.1%539.2K-28.9M-377.1K0.3637.55N/AN/A2,16477029,6149,400
2025-04-23$40.48$38.0060.5%17.3%120.6%32.2%58.3%14.9%-4.7%844.3K-42.0M-409.3K0.1433.80N/AN/A4,26257631,2829,612
2025-04-24$42.70$38.0057.8%16.6%122.2%29.6%56.7%15.2%-5.1%1.2M-54.2M-428.1K0.8833.99N/AN/A5,2444,64032,7729,754
2025-04-25$43.54$39.0053.8%15.4%122.5%25.9%51.4%14.9%-2.7%1.6M-63.9M-465.3K0.3530.37N/AN/A3,3361,15636,98411,608
2025-04-28$43.76$39.5054.3%15.6%120.4%26.4%56.2%14.2%-4.0%1.7M-64.3M-462.6K0.7529.05N/AN/A83462437,66212,150
2025-04-29$44.24$39.5053.2%15.3%120.4%25.3%56.2%13.5%-3.5%1.9M-69.7M-469.5K1.4536.35N/AN/A1,0501,52637,93412,280
2025-04-30$43.87$39.5054.2%15.5%120.4%26.2%55.1%15.6%-5.0%1.8M-65.1M-471.0K0.4146.95N/AN/A1,02842038,65413,140