QQQ Options History — January 2026

In January 2026, QQQ traded between $607.66 and $633.20. ATM implied volatility averaged 18.3%, placing in the 10.0% IV rank vs the trailing year. The 30-day expected move averaged 5.2%. IV traded above realized volatility by 5.1% (HV 20d: 13.2%). Max pain ranged from $605.00 to $620.00. Net GEX was positive for 11 of 20 trading days. Term structure was in contango for 12 of 20 days. Put/call ratio averaged 1.10.

Notable Days

  • 2026-01-21: Highest Volume — 7,164,662 contracts
  • 2026-01-20: Largest IV spike — 23.4% change
  • 2026-01-20: Highest IV Rank — 20.3%
  • 2026-01-20: Largest Expected Move — 6.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$622.40$607.66$633.20$613.36$621.63
Max Pain$618.30$605.00$620.00$605.00$620.00
ATM IV18.3%16.9%22.0%17.7%19.8%
Expected Move5.2%4.8%6.3%4.8%5.6%
HV 20d13.2%10.6%14.1%13.0%14.1%
HV 60d16.4%16.0%17.5%17.4%16.2%
IV Rank10.0%6.2%20.3%8.3%14.3%
IV Percentile44.0%24.2%75.8%34.5%64.7%
Term Structure0.0%-0.3%0.5%0.3%-0.1%
VWIV19.0%16.1%22.4%16.1%20.2%
Skew 25d5.9%4.8%7.7%4.8%7.0%
Skew 10d11.5%9.7%14.7%9.9%13.3%
Call IV 25d15.6%14.7%18.2%15.3%16.5%
Put IV 25d21.4%19.6%25.8%20.1%23.6%
Bid-Ask Spread %2.532.133.052.843.05
Gamma HHI0.040.030.060.050.04
Net GEX90.5M-6.80B5.99B-6.80B-5.35B
Net DEX-21.42B-48.41B28.70B-4.54B661.8M
Net VEX-547.6M-576.3M-536.5M-538.4M-576.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.100.741.320.741.07
Total Volume5,193,861.453,749,1677,164,6625,663,7735,574,843
Total OI8,479,086.057,379,2399,340,6718,514,4348,728,464

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2026-01-02$613.36$605.0017.7%4.8%13.0%8.3%16.1%4.8%0.3%-6.80B-4.54B-538.4M0.742.84N/AN/A3,261,7122,402,0613,357,6705,156,764
2026-01-05$618.55$615.0017.8%5.1%13.3%8.7%19.0%5.1%0.1%3.49B-24.20B-536.8M1.132.16N/AN/A2,132,5592,400,2243,394,6475,023,764
2026-01-06$623.75$615.0017.4%5.0%13.5%7.5%18.7%4.8%0.1%4.89B-38.81B-536.6M1.292.13N/AN/A2,098,5292,716,6743,389,7805,115,838
2026-01-07$623.95$615.0017.8%5.1%13.4%8.6%18.4%5.0%0.1%2.79B-35.74B-543.9M1.162.95N/AN/A2,377,9022,751,3793,413,2885,297,098
2026-01-08$620.38$617.0018.1%5.1%13.5%9.4%18.7%5.3%-0.0%-3.90B-20.53B-543.1M1.022.33N/AN/A2,479,6972,520,5813,458,3635,363,232
2026-01-09$627.29$619.0016.9%4.8%14.0%6.2%17.5%5.0%0.2%5.99B-48.41B-541.1M1.222.36N/AN/A2,171,8122,655,3463,498,3885,402,141
2026-01-12$627.81$620.0017.2%4.9%13.8%7.0%18.6%5.1%-0.2%3.58B-44.81B-536.5M1.322.25N/AN/A1,855,4362,449,8283,451,6085,291,835
2026-01-13$624.54$620.0017.8%5.0%12.1%8.6%19.8%5.9%-0.2%-1.25B-29.36B-547.2M0.912.31N/AN/A2,670,6462,439,2373,522,4915,417,961
2026-01-14$618.32$620.0018.8%5.3%12.6%11.4%19.2%6.5%-0.3%-3.88B-8.89B-549.8M0.802.35N/AN/A3,307,9742,657,0613,570,6315,508,691
2026-01-15$621.67$620.0017.7%5.0%12.7%8.2%17.7%6.1%-0.2%2.08B-26.39B-550.4M1.072.57N/AN/A2,655,1752,834,8703,675,4115,598,956
2026-01-16$621.54$620.0017.8%5.1%10.6%8.6%18.7%6.2%-0.1%-2.95B-21.81B-549.3M0.982.44N/AN/A2,631,4542,580,1103,675,6825,664,989
2026-01-20$607.66$620.0022.0%6.3%12.5%20.3%22.4%7.7%-0.1%-5.20B28.70B-554.3M1.072.49N/AN/A2,656,1172,836,5742,795,5984,583,641
2026-01-21$616.42$620.0019.1%5.5%13.2%12.3%20.1%6.3%0.2%-801.0M-4.02B-555.0M0.962.91N/AN/A3,660,5113,504,1512,931,0334,749,360
2026-01-22$619.88$620.0018.1%5.2%13.3%9.3%18.4%5.9%0.4%1.43B-13.87B-548.8M1.202.30N/AN/A2,205,8852,638,7962,998,3954,848,430
2026-01-23$622.68$620.0018.0%5.1%13.3%9.1%18.4%6.0%0.5%1.26B-18.75B-550.8M1.302.40N/AN/A2,296,0582,994,1903,032,1824,987,519
2026-01-26$626.63$620.0017.9%5.1%13.4%9.0%19.1%6.0%0.1%2.08B-25.58B-542.7M1.322.40N/AN/A1,982,5572,615,7832,951,1504,972,422
2026-01-27$631.37$620.0018.2%5.1%13.7%9.7%18.9%5.8%0.1%3.88B-37.68B-542.0M1.252.60N/AN/A2,130,7462,655,9212,998,8305,052,262
2026-01-28$633.20$620.0018.5%5.2%13.5%10.6%20.1%5.9%0.1%2.63B-38.94B-548.5M1.153.00N/AN/A1,746,2882,002,8793,090,7855,122,204
2026-01-29$627.39$620.0019.2%5.4%14.0%12.5%20.4%6.9%0.1%-2.15B-15.43B-560.1M1.022.73N/AN/A3,130,2023,195,4613,177,1135,313,105
2026-01-30$621.63$620.0019.8%5.6%14.1%14.3%20.2%7.0%-0.1%-5.35B661.8M-576.3M1.073.05N/AN/A2,692,7792,882,0643,290,6985,437,766