QLD Options History — November 2025

In November 2025, QLD traded between $64.58 and $75.36. ATM implied volatility averaged 44.4%, placing in the 17.6% IV rank vs the trailing year. The 30-day expected move averaged 12.7%. IV traded above realized volatility by 5.4% (HV 20d: 39.0%). Max pain ranged from $66.00 to $70.00. Net GEX was positive for 10 of 19 trading days. Term structure was in contango for 9 of 19 days. Put/call ratio averaged 1.45.

Notable Days

  • 2025-11-21: Highest Volume — 14,687 contracts
  • 2025-11-04: Largest IV spike — 14.9% change
  • 2025-11-20: Highest IV Rank — 28.2%
  • 2025-11-20: Largest Expected Move — 16.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$70.24$64.58$75.36$75.36$71.34
Max Pain$68.61$66.00$70.00$67.50$66.00
ATM IV44.4%37.9%55.8%38.3%37.9%
Expected Move12.7%10.9%16.0%11.0%10.9%
HV 20d39.0%35.0%42.4%36.0%41.8%
HV 60d30.5%26.4%33.1%26.4%32.8%
IV Rank17.6%11.6%28.2%11.9%11.6%
IV Percentile75.3%56.0%92.1%61.9%56.0%
Term Structure-0.9%-11.6%4.7%0.7%0.5%
VWIV45.8%38.6%56.5%40.1%38.6%
Skew 25d12.4%5.1%30.2%9.8%5.1%
Skew 10d25.5%14.2%54.0%16.3%16.2%
Call IV 25d37.9%33.6%45.5%34.6%35.5%
Put IV 25d50.3%40.6%65.9%44.4%40.6%
Bid-Ask Spread %38.3228.0353.9353.9343.16
Gamma HHI0.080.060.160.090.07
Net GEX-589.2K-5.1M2.1M2.1M1.9M
Net DEX-145.4M-218.2M-6.6M-218.2M-191.9M
Net VEX-751.6K-819.7K-121.1K-756.5K-749.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.450.096.392.740.09
Total Volume3,65479414,6871,7722,010
Total OI72,066.4747,73486,64467,73667,837

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-11-03$75.36$67.5038.3%11.0%36.0%11.9%40.1%9.8%0.7%2.1M-218.2M-756.5K2.7453.93N/AN/A4741,29842,21625,520
2025-11-04$72.69$67.5044.0%12.6%38.4%17.2%41.9%12.1%2.3%1.5M-191.3M-775.2K0.9146.73N/AN/A1,4061,28642,52026,556
2025-11-05$73.69$68.5041.9%12.0%38.1%15.3%41.5%10.2%-0.9%1.7M-194.2M-786.8K0.3952.52N/AN/A2,16084642,50627,446
2025-11-06$70.75$70.0043.8%12.4%41.0%17.1%44.3%9.1%-0.3%1.0M-172.5M-789.6K0.2833.84N/AN/A1,68647042,98427,876
2025-11-07$69.81$70.0045.2%12.4%35.0%18.3%44.7%10.4%0.9%338.7K-150.8M-796.6K6.3936.88N/AN/A1,59210,16642,77428,026
2025-11-10$73.22$70.0040.0%11.7%37.3%13.6%44.2%10.2%2.7%-556.1K-178.1M-803.7K0.4528.58N/AN/A1,09849443,05437,182
2025-11-11$72.81$70.0040.9%11.4%36.7%14.3%41.3%9.7%1.0%-732.5K-177.8M-783.9K0.3528.03N/AN/A59020443,14637,244
2025-11-12$72.58$70.0041.3%11.9%36.5%14.8%47.1%7.7%-1.6%-747.0K-177.5M-776.6K2.7434.16N/AN/A9962,72842,87037,246
2025-11-13$69.78$70.0045.1%12.9%39.2%18.3%51.2%9.3%1.0%-2.1M-133.3M-804.8K4.6635.66N/AN/A5862,73043,34037,808
2025-11-14$69.81$70.0045.7%13.1%38.8%18.8%55.9%16.0%-0.5%-2.8M-125.7M-819.7K1.4236.63N/AN/A1,3661,94643,37240,202
2025-11-17$68.04$70.0047.7%13.7%38.7%20.7%48.4%14.5%-1.8%-3.5M-103.1M-802.3K1.4331.91N/AN/A1,0881,55843,39241,118
2025-11-18$67.25$70.0050.1%14.4%38.8%22.9%56.5%21.8%-3.9%-4.0M-83.3M-806.3K0.5934.79N/AN/A2,6521,55843,36242,290
2025-11-19$67.66$69.5051.8%14.8%38.1%24.5%50.4%13.9%-3.9%-4.1M-90.8M-801.1K0.5935.90N/AN/A1,16068843,28043,364
2025-11-20$64.58$0.0055.8%16.0%40.5%28.2%47.8%30.2%-11.6%225.1K-6.6M-121.1K1.0453.30N/AN/A9661,0076,1491,585
2025-11-21$65.85$68.0048.9%14.0%40.2%21.8%46.6%17.3%-3.6%-5.1M-69.5M-785.7K1.8044.58N/AN/A5,2419,44643,90642,591
2025-11-24$68.84$66.0044.8%12.8%42.1%18.0%42.9%9.1%-4.5%681.4K-151.1M-773.3K0.1733.10N/AN/A2,65844641,23522,724
2025-11-25$69.50$66.0040.8%11.7%41.5%14.3%44.3%9.0%4.7%1.2M-162.8M-767.4K0.3634.38N/AN/A1,66059642,87622,836
2025-11-26$70.97$66.0039.1%11.2%42.4%12.7%42.7%10.1%1.1%1.7M-183.7M-781.3K1.2329.94N/AN/A1,1511,41943,66323,167
2025-11-28$71.34$66.0037.9%10.9%41.8%11.6%38.6%5.1%0.5%1.9M-191.9M-749.2K0.0943.16N/AN/A1,83717343,76524,072