QLD Options History — October 2025

In October 2025, QLD traded between $66.69 and $76.09. ATM implied volatility averaged 38.5%, placing in the 12.1% IV rank vs the trailing year. The 30-day expected move averaged 10.9%. IV traded above realized volatility by 11.2% (HV 20d: 27.2%). Max pain ranged from $52.50 to $67.50. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 17 of 23 days. Put/call ratio averaged 1.42.

Notable Days

2025-10-30: Highest Volume — 13,636 contracts
2025-10-10: Largest IV spike — 64.6% change
2025-10-14: Highest IV Rank — 27.8%
2025-10-16: Largest Expected Move — 13.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$70.80	$66.69	$76.09	$69.24	$75.20
Max Pain	$63.52	$52.50	$67.50	$52.50	$67.50
ATM IV	38.5%	29.4%	55.3%	31.6%	40.3%
Expected Move	10.9%	8.4%	13.1%	9.1%	11.6%
HV 20d	27.2%	14.2%	36.3%	15.1%	36.3%
HV 60d	25.2%	21.6%	28.1%	21.7%	26.6%
IV Rank	12.1%	3.7%	27.8%	5.7%	13.8%
IV Percentile	52.7%	5.6%	92.1%	18.7%	68.7%
Term Structure	1.4%	-2.1%	5.8%	4.2%	2.0%
VWIV	41.6%	31.8%	56.1%	33.4%	44.3%
Skew 25d	11.2%	6.0%	20.1%	9.1%	11.9%
Skew 10d	23.5%	14.7%	34.6%	17.2%	19.6%
Call IV 25d	33.3%	26.8%	38.7%	27.6%	34.8%
Put IV 25d	44.4%	35.4%	52.4%	36.7%	46.6%
Bid-Ask Spread %	36.49	11.16	74.91	70.55	54.02
Gamma HHI	0.09	0.07	0.13	0.12	0.08
Net GEX	1.7M	298.4K	2.9M	2.6M	1.9M
Net DEX	-180.1M	-216.4M	-139.2M	-177.5M	-213.1M
Net VEX	-666.7K	-774.8K	-545.6K	-549.8K	-772.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.42	0.08	14.25	0.29	0.80
Total Volume	3,862.087	764	13,636	2,674	974
Total OI	63,161.13	50,782	73,944	50,782	67,550

Daily Data (23 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2025-10-01	$69.24	$52.50	31.6%	9.1%	15.1%	5.7%	33.4%	9.1%	4.2%	2.6M	-177.5M	-549.8K	0.29	70.55	N/A	N/A	2,080	594	37,030	13,752
2025-10-02	$69.84	$52.50	30.9%	8.9%	14.2%	5.1%	33.1%	8.8%	5.5%	2.7M	-188.1M	-566.2K	0.38	74.91	N/A	N/A	882	338	38,372	14,164
2025-10-03	$69.33	$52.50	29.4%	8.4%	14.9%	3.7%	31.8%	8.7%	5.8%	2.7M	-184.8M	-562.1K	0.68	73.23	N/A	N/A	1,200	820	38,548	14,276
2025-10-06	$70.38	$65.00	30.9%	10.4%	15.1%	5.1%	43.7%	9.8%	1.0%	2.9M	-198.2M	-545.6K	0.54	12.23	N/A	N/A	3,862	2,094	39,200	14,720
2025-10-07	$69.59	$65.00	32.6%	10.5%	16.2%	6.6%	44.3%	11.2%	0.4%	2.8M	-193.1M	-620.3K	1.91	11.16	N/A	N/A	748	1,432	40,836	16,084
2025-10-08	$70.92	$65.00	30.3%	10.2%	17.0%	4.5%	39.6%	10.7%	3.5%	2.7M	-204.1M	-610.5K	1.18	13.92	N/A	N/A	350	414	40,586	17,308
2025-10-09	$70.75	$65.00	31.1%	10.1%	16.8%	5.3%	36.5%	9.7%	4.1%	2.8M	-202.2M	-610.6K	0.31	15.05	N/A	N/A	1,306	402	40,744	17,366
2025-10-10	$66.69	$65.00	51.3%	11.8%	28.0%	24.0%	48.5%	11.2%	3.0%	1.9M	-164.3M	-630.6K	3.37	37.10	N/A	N/A	2,656	8,940	41,202	17,614
2025-10-13	$68.72	$65.00	44.5%	11.4%	29.5%	17.7%	41.0%	14.3%	-0.7%	1.1M	-166.3M	-698.8K	0.29	26.29	N/A	N/A	1,302	382	41,530	25,802
2025-10-14	$67.53	$65.00	55.3%	12.2%	30.3%	27.8%	51.0%	16.4%	-1.5%	951.3K	-160.7M	-694.1K	1.35	31.53	N/A	N/A	1,314	1,774	41,630	25,886
2025-10-15	$68.63	$65.00	41.3%	11.8%	30.7%	14.8%	40.5%	13.4%	2.1%	1.1M	-167.9M	-698.3K	0.20	29.67	N/A	N/A	1,526	300	42,198	27,464
2025-10-16	$67.94	$65.00	45.8%	13.1%	30.3%	18.9%	56.1%	12.9%	-0.0%	905.2K	-161.7M	-697.7K	1.64	31.21	N/A	N/A	1,564	2,562	42,410	27,534
2025-10-17	$69.13	$65.00	44.8%	12.8%	30.7%	18.0%	50.2%	15.2%	0.0%	1.5M	-172.0M	-713.8K	0.90	23.42	N/A	N/A	3,298	2,980	42,816	31,128
2025-10-20	$70.91	$63.50	38.4%	11.0%	31.6%	12.0%	39.0%	12.5%	1.1%	472.9K	-147.4M	-708.2K	0.16	20.70	N/A	N/A	1,568	258	34,838	26,634
2025-10-21	$70.88	$63.50	37.3%	10.7%	31.2%	11.0%	40.4%	12.0%	0.4%	705.8K	-151.9M	-704.9K	0.30	21.37	N/A	N/A	920	278	35,832	26,806
2025-10-22	$69.24	$63.50	40.5%	11.6%	32.1%	14.0%	41.1%	20.1%	-1.3%	298.4K	-139.2M	-694.1K	2.09	46.54	N/A	N/A	538	1,124	35,938	26,858
2025-10-23	$70.61	$65.00	37.0%	10.6%	32.6%	10.8%	38.2%	9.3%	0.6%	348.7K	-146.8M	-694.6K	0.51	30.55	N/A	N/A	708	362	35,992	27,898
2025-10-24	$72.22	$65.00	35.5%	10.2%	33.2%	9.3%	35.0%	8.7%	1.0%	920.6K	-166.0M	-678.5K	0.08	27.19	N/A	N/A	5,480	416	36,364	28,062
2025-10-27	$74.43	$65.00	36.6%	10.5%	34.6%	10.4%	41.9%	7.9%	2.8%	1.9M	-196.0M	-668.1K	0.99	26.84	N/A	N/A	4,334	4,278	38,426	28,176
2025-10-28	$75.91	$65.50	38.7%	11.1%	35.0%	12.3%	41.6%	7.4%	-2.0%	1.9M	-215.5M	-722.1K	0.26	32.36	N/A	N/A	2,906	750	40,350	29,446
2025-10-29	$76.09	$67.50	40.8%	11.7%	34.9%	14.3%	41.2%	6.0%	-2.1%	1.8M	-216.4M	-718.4K	0.13	73.21	N/A	N/A	4,572	606	41,020	29,838
2025-10-30	$74.25	$67.50	39.3%	11.3%	36.3%	12.9%	45.3%	10.1%	1.4%	1.7M	-209.2M	-774.8K	14.25	56.20	N/A	N/A	894	12,742	42,390	30,088
2025-10-31	$75.20	$67.50	40.3%	11.6%	36.3%	13.8%	44.3%	11.9%	2.0%	1.9M	-213.1M	-772.3K	0.80	54.02	N/A	N/A	542	432	42,116	25,434