QQQ Options History — November 2025

In November 2025, QQQ traded between $586.33 and $631.89. ATM implied volatility averaged 22.5%, placing in the 24.2% IV rank vs the trailing year. The 30-day expected move averaged 6.5%. IV traded above realized volatility by 3.0% (HV 20d: 19.5%). Max pain ranged from $575.00 to $605.00. Net GEX was positive for 6 of 19 trading days. Term structure was in contango for 8 of 19 days. Put/call ratio averaged 1.11.

Notable Days

  • 2025-11-20: Highest Volume — 8,571,836 contracts
  • 2025-11-13: Largest IV spike — 14.9% change
  • 2025-11-20: Highest IV Rank — 41.8%
  • 2025-11-20: Largest Expected Move — 8.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$611.00$586.33$631.89$631.89$617.09
Max Pain$586.64$575.00$605.00$602.00$590.00
ATM IV22.5%19.0%28.9%19.3%19.0%
Expected Move6.5%5.6%8.4%5.6%5.7%
HV 20d19.5%17.5%21.3%17.9%21.0%
HV 60d15.2%13.1%16.5%13.1%16.4%
IV Rank24.2%14.8%41.8%15.7%14.8%
IV Percentile76.8%52.4%94.0%61.1%52.4%
Term Structure-0.2%-1.6%0.6%0.6%-0.1%
VWIV23.6%20.6%28.9%20.6%21.3%
Skew 25d6.7%5.1%10.3%5.1%5.1%
Skew 10d14.0%10.7%20.7%10.9%10.7%
Call IV 25d19.4%16.6%24.0%17.2%16.6%
Put IV 25d26.0%21.7%34.3%22.4%21.7%
Bid-Ask Spread %2.831.675.662.162.72
Gamma HHI0.030.030.060.030.03
Net GEX-2.03B-6.69B5.80B1.47B3.84B
Net DEX-24.06B-74.09B48.42B-74.09B-57.65B
Net VEX-612.8M-640.4M-567.6M-567.6M-599.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.110.791.341.301.04
Total Volume5,487,941.3162,353,7778,571,8363,918,8422,353,777
Total OI10,374,3109,480,77811,424,7179,480,77810,168,651

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-11-03$631.89$602.0019.3%5.6%17.9%15.7%20.6%5.1%0.6%1.47B-74.09B-567.6M1.302.16N/AN/A1,705,7392,213,1033,543,3515,937,427
2025-11-04$620.72$605.0020.5%6.0%19.1%18.9%21.8%5.9%0.5%-4.67B-34.00B-596.5M1.342.11N/AN/A2,281,0113,062,3723,547,6306,161,410
2025-11-05$625.06$605.0019.6%5.6%18.9%16.3%21.1%5.3%0.6%-119.5M-53.74B-594.8M1.201.97N/AN/A1,901,2852,286,7223,690,1876,339,927
2025-11-06$612.66$579.7822.1%6.4%20.4%23.1%22.7%6.2%0.3%-5.81B-10.76B-616.9M1.084.24N/AN/A3,000,7253,236,6183,663,8036,396,914
2025-11-07$608.63$579.7822.4%6.5%17.5%24.0%22.4%6.4%0.3%-6.56B-5.94B-616.8M1.073.47N/AN/A3,366,3463,607,7603,783,3996,497,065
2025-11-10$623.60$575.0020.2%5.9%18.7%18.0%21.3%5.8%0.3%1.14B-67.44B-589.6M1.002.49N/AN/A2,715,8242,720,0083,856,1706,394,292
2025-11-11$621.86$580.0020.2%5.9%18.4%18.1%21.5%5.6%0.2%-1.01B-53.65B-600.5M0.932.00N/AN/A2,293,8372,124,0503,842,8936,518,475
2025-11-12$620.96$580.0021.0%6.0%18.3%20.1%21.9%5.4%0.1%-122.3M-50.19B-607.3M0.792.15N/AN/A2,656,1962,095,0623,911,1326,572,864
2025-11-13$609.02$580.0024.1%6.9%19.6%28.6%24.6%6.9%-0.2%-4.76B-9.06B-629.5M1.112.61N/AN/A3,059,4103,387,0513,969,7976,641,119
2025-11-14$609.22$580.0023.3%6.6%19.4%26.3%24.9%6.9%-0.1%-3.49B-15.03B-631.0M1.322.65N/AN/A2,552,5453,356,9894,087,2746,855,554
2025-11-17$601.60$585.0025.7%7.3%19.3%33.1%26.5%8.0%-1.1%-5.27B6.49B-630.1M1.122.31N/AN/A2,773,7023,093,6333,933,6476,547,542
2025-11-18$598.15$585.0026.4%7.5%19.4%34.7%27.2%8.7%-1.2%-5.71B15.70B-635.0M1.042.72N/AN/A3,047,4353,179,0924,028,5926,722,521
2025-11-19$599.99$585.0025.8%7.4%19.1%33.4%26.8%8.5%-1.2%-3.33B2.60B-640.4M1.013.21N/AN/A2,412,5382,432,3664,224,8886,824,893
2025-11-20$586.33$585.0028.9%8.4%20.3%41.8%28.9%10.3%-1.6%-6.69B48.42B-638.5M1.075.66N/AN/A4,138,9024,432,9344,318,5406,876,163
2025-11-21$592.10$589.7826.2%7.7%20.1%34.3%27.8%8.6%-1.5%-5.06B21.02B-633.7M1.174.06N/AN/A2,812,0913,284,4314,493,5426,931,175
2025-11-24$605.93$585.0022.4%6.6%21.2%24.0%23.7%7.1%-0.2%498.4M-28.56B-609.1M1.252.74N/AN/A2,367,2862,968,7983,862,7585,882,851
2025-11-25$608.86$585.0020.4%6.1%20.9%18.5%22.1%5.8%-0.2%1.35B-35.69B-596.2M1.332.84N/AN/A2,569,4283,424,9113,952,8775,988,813
2025-11-26$615.38$589.7819.3%5.7%21.3%15.7%21.1%5.3%-0.1%5.80B-55.60B-610.0M0.981.67N/AN/A2,706,2322,650,6764,056,6286,087,126
2025-11-28$617.09$590.0019.0%5.7%21.0%14.8%21.3%5.1%-0.1%3.84B-57.65B-599.8M1.042.72N/AN/A1,156,2781,197,4994,091,8436,076,808