TQQQ Options History — January 2025

In January 2025, TQQQ traded between $37.42 and $44.02. ATM implied volatility averaged 55.3%, placing in the 26.0% IV rank vs the trailing year. The 30-day expected move averaged 15.5%. IV traded below realized volatility by 9.2% (HV 20d: 64.5%). Max pain ranged from $32.50 to $40.00. Net GEX was positive for 18 of 20 trading days. Term structure was in contango for 7 of 20 days. Put/call ratio averaged 0.76.

Notable Days

2025-01-31: Highest Volume — 802,074 contracts
2025-01-27: Largest IV spike — 21.1% change
2025-01-13: Highest IV Rank — 37.1%
2025-01-14: Largest Expected Move — 17.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$40.82	$37.42	$44.02	$39.16	$41.23
Max Pain	$39.20	$32.50	$40.00	$32.50	$40.00
ATM IV	55.3%	47.7%	62.6%	57.7%	55.7%
Expected Move	15.5%	13.6%	17.2%	17.1%	15.8%
HV 20d	64.5%	57.7%	70.8%	62.1%	63.9%
HV 60d	56.9%	53.5%	60.9%	53.5%	58.9%
IV Rank	26.0%	14.3%	37.1%	29.6%	26.6%
IV Percentile	64.4%	33.3%	86.9%	75.4%	67.5%
Term Structure	-0.6%	-6.4%	8.1%	-6.4%	-3.2%
VWIV	55.1%	47.9%	60.5%	59.5%	54.7%
Skew 25d	12.6%	4.2%	16.4%	14.7%	13.0%
Skew 10d	25.3%	16.7%	43.1%	27.7%	24.9%
Call IV 25d	49.1%	43.6%	55.3%	51.6%	50.0%
Put IV 25d	61.7%	51.5%	70.1%	66.3%	63.0%
Bid-Ask Spread %	5.68	3.40	7.87	7.27	5.36
Gamma HHI	0.05	0.03	0.15	0.03	0.11
Net GEX	25.2M	-7.3M	84.9M	5.3M	-3.7M
Net DEX	-1.13B	-2.06B	-343.4M	-724.0M	-896.6M
Net VEX	-6.7M	-7.4M	-6.0M	-6.0M	-7.2M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.76	0.43	1.31	0.57	0.90
Total Volume	546,845.7	332,372	802,074	554,832	802,074
Total OI	1,616,443.4	1,231,960	1,928,586	1,715,970	1,677,980

Daily Data (20 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
2025-01-02	$39.16	$32.50	57.7%	17.1%	62.1%	29.6%	59.5%	14.7%	-6.4%	5.3M	-724.0M	-6.0M	0.57	7.27	N/A	N/A	353,478	201,354	1,015,386	700,584
2025-01-03	$41.16	$32.50	53.5%	14.8%	63.1%	23.2%	52.7%	13.2%	-0.1%	29.9M	-1.50B	-6.4M	0.65	7.87	N/A	N/A	357,396	232,548	1,060,976	738,784
2025-01-06	$42.41	$40.00	56.2%	15.0%	64.0%	27.4%	53.5%	4.2%	8.1%	40.0M	-1.71B	-6.4M	0.68	4.16	N/A	N/A	287,738	195,786	905,386	628,676
2025-01-07	$40.06	$40.00	59.7%	16.5%	66.4%	32.8%	57.8%	15.5%	-3.5%	15.1M	-1.01B	-6.3M	0.67	4.49	N/A	N/A	301,766	200,756	975,654	677,986
2025-01-08	$40.23	$40.00	58.2%	16.1%	65.9%	30.4%	57.9%	14.1%	-0.8%	14.5M	-1.03B	-6.5M	0.67	5.68	N/A	N/A	238,144	158,974	1,033,922	731,244
2025-01-10	$38.34	$40.00	62.3%	17.0%	67.8%	36.6%	59.6%	14.7%	-1.3%	-7.3M	-465.3M	-6.1M	0.67	6.67	N/A	N/A	443,448	297,980	1,057,134	760,342
2025-01-13	$37.78	$40.00	62.6%	17.1%	63.7%	37.1%	60.2%	15.5%	-2.7%	7.6M	-653.6M	-6.0M	0.55	7.68	N/A	N/A	300,902	165,844	947,216	671,924
2025-01-14	$37.42	$40.00	62.5%	17.2%	63.6%	37.1%	58.6%	13.7%	-2.4%	9.9M	-634.9M	-6.1M	0.43	7.40	N/A	N/A	309,644	133,798	1,022,338	707,710
2025-01-15	$40.63	$40.00	53.3%	14.8%	70.8%	22.9%	51.5%	12.6%	-1.6%	44.4M	-1.62B	-6.5M	0.71	5.91	N/A	N/A	331,864	236,094	1,058,196	735,576
2025-01-16	$40.08	$40.00	53.2%	14.7%	68.5%	22.7%	52.0%	12.5%	-2.4%	42.5M	-1.40B	-6.5M	0.76	6.15	N/A	N/A	327,614	248,500	1,094,170	756,506
2025-01-17	$41.69	$40.00	51.4%	14.4%	70.4%	20.0%	50.9%	12.0%	-1.4%	84.9M	-2.06B	-6.8M	0.69	5.33	N/A	N/A	419,882	291,150	1,134,504	794,082
2025-01-21	$42.25	$40.00	49.4%	14.1%	57.7%	16.9%	51.2%	10.8%	1.4%	34.2M	-1.19B	-6.8M	0.84	3.66	N/A	N/A	248,642	209,578	726,848	505,112
2025-01-22	$44.02	$40.00	48.1%	13.8%	59.3%	14.9%	49.9%	9.1%	1.4%	57.6M	-1.74B	-7.0M	0.85	3.40	N/A	N/A	311,818	265,392	807,120	566,582
2025-01-23	$43.70	$40.00	47.7%	13.6%	58.8%	14.3%	49.9%	9.3%	1.7%	47.0M	-1.55B	-7.0M	1.02	3.55	N/A	N/A	164,426	167,946	843,704	612,256
2025-01-24	$43.17	$40.00	48.5%	13.8%	58.8%	15.6%	47.9%	10.0%	1.4%	25.2M	-1.33B	-7.1M	0.67	4.30	N/A	N/A	330,032	222,324	873,158	644,798
2025-01-27	$39.42	$40.00	58.8%	16.9%	66.0%	31.3%	58.9%	16.4%	0.7%	3.0M	-343.4M	-6.7M	0.72	5.83	N/A	N/A	409,912	295,082	719,524	535,176
2025-01-28	$41.45	$39.50	55.0%	15.8%	68.6%	25.5%	57.8%	13.8%	-1.8%	23.1M	-1.01B	-7.3M	0.67	5.46	N/A	N/A	272,506	181,654	827,624	625,506
2025-01-29	$41.06	$40.00	57.3%	16.5%	65.4%	29.1%	60.5%	13.5%	-1.9%	18.4M	-849.6M	-7.4M	1.31	6.05	N/A	N/A	176,884	232,188	863,288	673,048
2025-01-30	$41.22	$39.50	55.7%	15.8%	65.0%	26.5%	57.6%	13.2%	2.4%	12.7M	-880.9M	-7.3M	1.07	7.45	N/A	N/A	295,556	316,240	902,132	716,716
2025-01-31	$41.23	$40.00	55.7%	15.8%	63.9%	26.6%	54.7%	13.0%	-3.2%	-3.7M	-896.6M	-7.2M	0.90	5.36	N/A	N/A	421,166	380,908	927,268	750,712