TQQQ Options History — December 2025

In December 2025, TQQQ traded between $49.80 and $56.95. ATM implied volatility averaged 51.1%, placing in the 10.7% IV rank vs the trailing year. The 30-day expected move averaged 14.7%. IV traded above realized volatility by 1.4% (HV 20d: 49.7%). Max pain ranged from $35.50 to $45.00. Net GEX was positive for 21 of 22 trading days. Term structure was in contango for 19 of 22 days. Put/call ratio averaged 0.75.

Notable Days

2025-12-12: Highest Volume — 469,355 contracts
2025-12-12: Largest IV spike — 12.9% change
2025-12-01: Highest IV Rank — 18.0%
2025-12-01: Largest Expected Move — 17.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$54.33	$49.80	$56.95	$54.11	$53.03
Max Pain	$38.93	$35.50	$45.00	$45.00	$42.00
ATM IV	51.1%	42.1%	57.4%	57.4%	50.6%
Expected Move	14.7%	12.2%	17.3%	17.3%	13.8%
HV 20d	49.7%	39.3%	63.2%	62.4%	39.4%
HV 60d	51.0%	49.3%	52.6%	49.3%	52.5%
IV Rank	10.7%	1.1%	18.0%	18.0%	9.3%
IV Percentile	31.5%	0.4%	57.9%	57.9%	26.6%
Term Structure	1.3%	-3.9%	5.6%	0.4%	1.9%
VWIV	53.0%	45.1%	63.7%	63.7%	50.5%
Skew 25d	14.6%	9.7%	18.7%	15.3%	16.1%
Skew 10d	28.0%	19.5%	37.6%	32.6%	27.1%
Call IV 25d	44.6%	36.3%	49.5%	49.5%	43.1%
Put IV 25d	59.2%	50.1%	65.5%	64.8%	59.2%
Bid-Ask Spread %	35.40	25.17	51.16	29.32	33.73
Gamma HHI	0.09	0.04	0.29	0.06	0.05
Net GEX	42.0M	-9.4M	107.4M	37.6M	7.6M
Net DEX	-2.49B	-3.30B	-1.51B	-2.68B	-1.63B
Net VEX	-9.1M	-10.1M	-8.4M	-10.1M	-8.5M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.75	0.51	1.12	1.12	0.73
Total Volume	218,549.682	101,764	469,355	194,610	201,077
Total OI	1,683,910.909	1,400,290	1,866,365	1,706,479	1,501,838

Daily Data (22 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
2025-12-01	$54.11	$45.00	57.4%	17.3%	62.4%	18.0%	63.7%	15.3%	0.4%	37.6M	-2.68B	-10.1M	1.12	29.32	N/A	N/A	91,880	102,730	986,738	719,741
2025-12-02	$55.45	$45.00	55.5%	17.3%	63.2%	16.2%	62.3%	15.1%	5.6%	46.7M	-3.01B	-10.1M	0.72	38.71	N/A	N/A	117,821	84,248	1,013,386	757,757
2025-12-03	$55.84	$45.00	55.0%	16.3%	60.2%	15.8%	63.7%	16.4%	2.2%	53.7M	-3.13B	-10.0M	1.04	40.85	N/A	N/A	79,097	82,318	1,032,021	777,983
2025-12-04	$55.11	$35.50	53.8%	15.9%	59.9%	14.6%	55.8%	14.4%	1.2%	52.2M	-2.99B	-9.8M	0.88	37.94	N/A	N/A	92,053	81,293	1,044,725	792,630
2025-12-05	$56.09	$35.50	51.6%	15.4%	56.0%	12.5%	50.9%	9.7%	1.7%	84.4M	-3.30B	-9.7M	0.61	34.84	N/A	N/A	201,625	123,377	1,054,974	800,488
2025-12-08	$55.39	$36.00	54.6%	16.0%	55.6%	15.4%	56.1%	16.4%	1.9%	34.7M	-2.81B	-9.6M	0.88	37.69	N/A	N/A	91,667	81,028	956,578	720,866
2025-12-09	$56.05	$36.50	53.8%	15.7%	49.6%	14.6%	56.7%	15.4%	0.3%	39.7M	-2.96B	-9.6M	0.85	40.15	N/A	N/A	54,870	46,894	984,208	748,869
2025-12-10	$56.95	$36.50	52.5%	15.6%	49.8%	12.6%	53.3%	16.6%	1.4%	50.5M	-3.23B	-9.2M	0.66	51.16	N/A	N/A	126,742	83,576	995,680	762,252
2025-12-11	$55.86	$37.00	49.6%	14.5%	50.3%	9.7%	52.5%	15.2%	0.8%	43.3M	-2.94B	-9.1M	0.67	43.39	N/A	N/A	162,290	108,154	1,014,326	774,221
2025-12-12	$52.72	$37.00	56.0%	15.6%	49.9%	15.8%	55.0%	17.1%	-3.9%	-9.4M	-1.96B	-9.0M	0.51	44.29	N/A	N/A	311,593	157,762	1,031,602	801,738
2025-12-15	$52.16	$37.50	53.4%	15.5%	50.1%	12.0%	52.9%	16.3%	0.6%	16.1M	-2.06B	-8.8M	0.57	35.27	N/A	N/A	118,336	67,157	944,716	730,564
2025-12-16	$52.59	$37.50	50.7%	14.7%	48.0%	9.4%	51.5%	16.8%	2.7%	18.3M	-2.14B	-8.6M	0.53	39.73	N/A	N/A	133,888	71,434	971,762	758,605
2025-12-17	$49.80	$37.50	55.7%	16.0%	51.7%	14.2%	56.1%	18.7%	-0.9%	4.8M	-1.51B	-8.6M	0.55	35.88	N/A	N/A	169,774	93,838	1,007,165	773,637
2025-12-18	$52.02	$37.50	54.6%	15.8%	53.9%	13.1%	53.4%	15.0%	-3.2%	21.5M	-2.08B	-8.8M	0.58	40.83	N/A	N/A	176,709	102,641	1,030,684	799,900
2025-12-19	$53.44	$37.50	48.2%	13.8%	47.1%	6.9%	48.3%	13.2%	0.2%	53.6M	-2.63B	-8.6M	0.75	29.42	N/A	N/A	182,023	137,340	1,061,551	804,814
2025-12-22	$54.25	$38.50	45.4%	13.0%	46.6%	4.2%	50.2%	12.2%	3.3%	43.1M	-2.31B	-8.7M	0.85	25.17	N/A	N/A	105,676	90,197	858,494	591,888
2025-12-23	$54.95	$39.50	43.0%	12.3%	40.8%	1.9%	46.5%	14.8%	2.9%	66.0M	-2.49B	-8.7M	0.80	26.10	N/A	N/A	94,026	75,406	893,713	625,527
2025-12-24	$55.31	$40.00	42.1%	12.2%	40.7%	1.1%	45.1%	12.2%	4.1%	87.7M	-2.40B	-8.7M	0.68	31.36	N/A	N/A	70,666	47,822	867,982	648,016
2025-12-26	$55.36	$40.00	44.5%	12.2%	39.3%	3.4%	45.7%	11.3%	3.3%	107.4M	-2.45B	-8.5M	0.62	27.04	N/A	N/A	147,462	90,967	878,835	657,393
2025-12-29	$54.52	$40.00	48.9%	12.7%	39.6%	7.6%	47.2%	10.3%	0.9%	33.8M	-2.03B	-8.4M	0.83	25.46	N/A	N/A	113,778	94,797	804,644	595,646
2025-12-30	$54.28	$40.00	47.8%	12.8%	39.7%	6.6%	48.5%	13.6%	1.3%	31.2M	-1.98B	-8.5M	0.96	30.51	N/A	N/A	72,425	69,636	836,577	631,306
2025-12-31	$53.03	$42.00	50.6%	13.8%	39.4%	9.3%	50.5%	16.1%	1.9%	7.6M	-1.63B	-8.5M	0.73	33.73	N/A	N/A	115,894	85,183	850,850	650,988