QLD Options History — January 2026

In January 2026, QLD traded between $68.65 and $74.43. ATM implied volatility averaged 35.0%, placing in the 8.9% IV rank vs the trailing year. The 30-day expected move averaged 10.1%. IV traded above realized volatility by 8.5% (HV 20d: 26.5%). Max pain ranged from $65.00 to $70.00. Net GEX was positive for 18 of 20 trading days. Term structure was in contango for 16 of 20 days. Put/call ratio averaged 0.82.

Notable Days

  • 2026-01-12: Highest Volume — 5,836 contracts
  • 2026-01-20: Largest IV spike — 25.8% change
  • 2026-01-20: Highest IV Rank — 15.7%
  • 2026-01-20: Largest Expected Move — 12.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$72.07$68.65$74.43$70.15$71.68
Max Pain$69.40$65.00$70.00$65.00$70.00
ATM IV35.0%28.0%42.4%33.2%38.3%
Expected Move10.1%9.0%12.1%9.5%11.0%
HV 20d26.5%21.4%28.3%26.3%28.3%
HV 60d32.8%32.0%35.0%34.9%32.4%
IV Rank8.9%2.3%15.7%7.2%11.9%
IV Percentile39.5%0.8%72.2%29.8%57.5%
Term Structure1.6%-3.9%5.6%0.6%1.9%
VWIV35.1%30.7%47.7%32.6%35.7%
Skew 25d11.7%6.4%27.4%8.0%12.7%
Skew 10d21.9%1.6%31.1%1.6%18.9%
Call IV 25d29.7%15.7%33.9%30.5%31.8%
Put IV 25d41.4%37.7%51.4%38.5%44.4%
Bid-Ask Spread %44.3925.6890.7790.7760.17
Gamma HHI0.080.040.100.080.08
Net GEX1.5M-720.9K2.9M-720.9K2.4M
Net DEX-178.0M-212.6M-139.5M-162.7M-158.0M
Net VEX-685.8K-736.1K-635.5K-672.7K-718.6K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.820.065.940.350.72
Total Volume1,746.54815,8361,075481
Total OI50,952.935,53360,36056,93544,060

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2026-01-02$70.15$65.0033.2%9.5%26.3%7.2%32.6%8.0%0.6%-720.9K-162.7M-672.7K0.3590.77N/AN/A79927638,45218,483
2026-01-05$71.34$70.0034.4%10.1%26.9%8.3%37.9%10.9%3.4%-411.7K-175.0M-664.4K0.5129.24N/AN/A87144338,85818,777
2026-01-06$72.53$70.0035.7%10.0%27.3%9.5%31.5%7.2%3.8%81.7K-184.5M-657.4K0.1139.58N/AN/A1,34814939,16618,930
2026-01-07$72.56$66.0028.0%9.6%27.1%2.3%39.0%11.4%4.3%868.4K-194.9M-651.6K0.4848.30N/AN/A1,30062039,76918,965
2026-01-08$71.73$69.0035.2%9.8%27.2%9.0%36.4%6.4%1.9%79.0K-181.1M-653.5K0.4940.80N/AN/A53125940,38518,794
2026-01-09$73.30$69.0028.6%9.9%28.1%2.9%33.7%10.2%3.3%1.6M-201.4M-646.0K0.2932.80N/AN/A87825940,40718,888
2026-01-12$73.41$69.0031.3%9.8%27.7%5.5%34.1%11.9%2.8%2.1M-204.6M-635.5K4.3825.68N/AN/A1,0854,75140,71118,972
2026-01-13$72.63$70.0039.0%9.5%24.2%12.6%33.0%9.2%5.6%2.6M-212.6M-677.2K0.2943.60N/AN/A1,01529442,80016,767
2026-01-14$71.16$70.0035.1%10.1%25.3%9.0%36.0%7.8%2.9%585.2K-193.6M-679.0K0.4259.30N/AN/A99342042,98716,809
2026-01-15$71.92$70.0031.5%9.0%25.5%5.6%30.7%12.5%4.1%1.6M-207.6M-670.5K0.1633.10N/AN/A1,39822543,09117,124
2026-01-16$71.86$70.0033.7%9.7%21.4%7.6%34.6%10.9%1.7%2.2M-207.8M-672.4K0.2232.77N/AN/A2,16847743,27817,082
2026-01-20$68.65$70.0042.4%12.1%25.3%15.7%47.7%17.5%-3.8%1.5M-139.5M-686.5K5.9437.75N/AN/A4632,74931,3414,192
2026-01-21$70.60$70.0035.9%10.3%26.5%9.7%36.0%13.1%2.9%1.2M-141.9M-707.1K0.3641.47N/AN/A99835931,4076,647
2026-01-22$71.40$70.0035.9%10.3%26.6%9.8%31.4%13.0%-2.1%1.5M-149.9M-699.2K0.1732.11N/AN/A95516232,1236,821
2026-01-23$72.02$70.0035.1%10.1%26.6%9.0%31.7%10.1%0.6%1.6M-153.3M-705.9K0.0640.93N/AN/A2,78117332,5616,911
2026-01-26$72.91$70.0033.9%9.7%26.9%7.8%32.0%10.6%-0.2%2.4M-165.1M-715.2K0.0840.05N/AN/A1,50512035,0657,060
2026-01-27$74.00$70.0034.7%9.9%27.4%8.6%34.7%9.9%1.3%2.9M-176.1M-736.1K0.4625.71N/AN/A72833636,2867,106
2026-01-28$74.43$70.0036.6%10.5%27.1%10.4%33.5%27.4%-3.9%2.8M-182.5M-732.1K0.3681.21N/AN/A66124136,6387,194
2026-01-29$73.06$70.0041.4%11.9%28.0%14.8%39.0%14.2%1.6%2.6M-167.6M-735.1K0.4952.47N/AN/A1,11754236,8397,312
2026-01-30$71.68$70.0038.3%11.0%28.3%11.9%35.7%12.7%1.9%2.4M-158.0M-718.6K0.7260.17N/AN/A27920236,3047,756