IONQ Options History — May 2025

In May 2025, IONQ traded between $27.55 and $47.95. ATM implied volatility averaged 99.9%, placing in the 53.8% IV rank vs the trailing year. The 30-day expected move averaged 28.9%. IV traded above realized volatility by 4.3% (HV 20d: 95.7%). Max pain ranged from $25.00 to $35.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 6 of 21 days. Put/call ratio averaged 0.52.

Notable Days

2025-05-22: Highest Volume — 374,604 contracts
2025-05-22: Largest IV spike — 52.0% change
2025-05-22: Highest IV Rank — 91.0%
2025-05-22: Largest Expected Move — 40.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$35.71	$27.55	$47.95	$27.55	$40.21
Max Pain	$30.71	$25.00	$35.00	$25.00	$35.00
ATM IV	99.9%	84.8%	139.5%	103.8%	94.9%
Expected Move	28.9%	24.7%	40.3%	33.4%	27.1%
HV 20d	95.7%	66.5%	130.0%	117.5%	130.0%
HV 60d	118.2%	113.2%	129.0%	113.2%	125.4%
IV Rank	53.8%	39.5%	91.0%	57.4%	49.0%
IV Percentile	51.3%	38.5%	98.4%	53.6%	43.3%
Term Structure	-1.5%	-13.6%	3.1%	-2.5%	-2.6%
VWIV	101.3%	86.6%	135.7%	116.5%	97.9%
Skew 25d	0.6%	-22.1%	35.0%	8.0%	-5.2%
Skew 10d	-1.3%	-25.8%	33.7%	7.5%	-14.4%
Call IV 25d	98.6%	57.1%	144.5%	99.4%	100.2%
Put IV 25d	99.1%	83.4%	131.1%	107.4%	95.0%
Bid-Ask Spread %	21.50	11.29	29.50	29.50	28.87
Gamma HHI	0.13	0.07	0.47	0.13	0.21
Net GEX	3.7M	-4.9M	12.3M	1.8M	-4.9M
Net DEX	-401.5M	-824.8M	-162.2M	-162.2M	-385.0M
Net VEX	-1.8M	-2.2M	-1.5M	-1.5M	-2.2M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.52	0.26	1.68	0.32	0.87
Total Volume	79,405.429	17,391	374,604	17,391	112,016
Total OI	437,982.857	375,301	567,846	393,723	567,846

Daily Data (21 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
2025-05-01	$27.55	$25.00	103.8%	33.4%	117.5%	57.4%	116.5%	8.0%	-2.5%	1.8M	-162.2M	-1.5M	0.32	29.50	N/A	N/A	13,198	4,193	200,445	193,278
2025-05-02	$30.81	$25.00	101.9%	33.7%	120.5%	55.6%	117.8%	2.8%	-2.9%	3.8M	-292.8M	-1.6M	0.28	25.58	N/A	N/A	66,169	18,522	204,389	194,970
2025-05-05	$29.95	$30.00	102.5%	28.5%	112.4%	56.2%	100.1%	3.0%	-0.4%	1.8M	-227.4M	-1.6M	0.73	16.37	N/A	N/A	11,578	8,496	191,507	183,794
2025-05-06	$29.45	$30.00	104.0%	28.9%	110.6%	57.6%	101.9%	3.7%	-1.3%	1.7M	-212.1M	-1.6M	0.80	12.73	N/A	N/A	9,816	7,851	194,842	187,641
2025-05-07	$29.11	$30.00	101.3%	28.1%	103.8%	55.0%	98.9%	1.7%	-4.1%	1.7M	-200.9M	-1.6M	1.68	24.12	N/A	N/A	12,656	21,237	198,226	191,463
2025-05-08	$31.93	$30.00	95.1%	27.0%	73.1%	49.2%	93.8%	5.3%	1.5%	3.6M	-303.8M	-1.6M	0.29	19.68	N/A	N/A	93,507	26,995	204,010	204,938
2025-05-09	$30.98	$30.00	92.3%	26.5%	72.8%	46.6%	93.2%	-0.1%	1.1%	4.5M	-273.9M	-1.7M	0.33	22.00	N/A	N/A	53,557	17,677	220,589	212,061
2025-05-12	$32.66	$30.00	89.2%	24.9%	74.1%	43.6%	87.5%	16.8%	-0.3%	3.3M	-304.0M	-1.7M	0.34	22.12	N/A	N/A	35,512	12,019	202,908	202,891
2025-05-13	$33.11	$30.00	84.8%	24.7%	73.1%	39.5%	86.6%	29.4%	2.5%	4.1M	-324.4M	-1.7M	0.38	20.64	N/A	N/A	15,315	5,789	213,841	206,745
2025-05-14	$32.98	$30.00	87.9%	25.6%	72.4%	42.4%	90.0%	35.0%	-0.8%	4.1M	-322.0M	-1.7M	0.26	26.90	N/A	N/A	40,071	10,469	216,433	208,958
2025-05-15	$32.39	$30.00	89.7%	25.3%	71.5%	44.1%	89.1%	-1.7%	-2.8%	4.1M	-303.3M	-1.7M	0.37	25.42	N/A	N/A	16,663	6,222	228,415	212,647
2025-05-16	$34.74	$30.00	85.5%	24.7%	73.0%	40.1%	87.3%	-7.2%	-0.1%	12.3M	-401.3M	-1.8M	0.41	27.01	N/A	N/A	41,742	17,315	230,363	214,726
2025-05-19	$34.67	$30.00	90.2%	25.8%	68.2%	44.5%	91.6%	-3.0%	0.5%	3.5M	-341.9M	-1.8M	0.43	11.29	N/A	N/A	21,532	9,254	206,923	187,146
2025-05-20	$35.23	$30.00	91.5%	26.2%	66.5%	45.8%	91.8%	-2.6%	0.4%	4.3M	-368.0M	-1.8M	0.38	12.66	N/A	N/A	27,774	10,434	215,772	192,273
2025-05-21	$33.87	$30.00	91.7%	26.3%	68.5%	46.0%	91.8%	-1.8%	3.1%	3.4M	-309.5M	-1.8M	0.44	16.34	N/A	N/A	30,643	13,348	220,210	197,147
2025-05-22	$45.27	$30.00	139.5%	40.3%	119.6%	91.0%	135.7%	-13.3%	-5.1%	3.5M	-734.1M	-1.9M	0.80	22.94	N/A	N/A	207,929	166,675	223,083	200,397
2025-05-23	$46.23	$35.00	117.7%	34.0%	119.6%	70.5%	116.9%	-22.1%	-1.3%	6.1M	-824.8M	-2.1M	0.60	18.60	N/A	N/A	124,277	74,469	260,912	269,936
2025-05-27	$47.44	$35.00	116.5%	34.1%	118.7%	69.3%	119.3%	-15.7%	-1.7%	4.9M	-763.2M	-2.1M	0.39	21.28	N/A	N/A	68,024	26,761	246,659	238,507
2025-05-28	$47.95	$35.00	116.7%	32.6%	117.8%	69.5%	115.8%	-11.3%	-13.6%	6.9M	-803.1M	-2.2M	0.29	23.63	N/A	N/A	80,415	23,515	263,493	248,410
2025-05-29	$43.32	$35.00	101.9%	29.1%	125.3%	55.6%	104.8%	-9.3%	-0.5%	2.4M	-574.9M	-2.2M	0.46	23.93	N/A	N/A	71,261	32,618	281,053	257,793
2025-05-30	$40.21	$35.00	94.9%	27.1%	130.0%	49.0%	97.9%	-5.2%	-2.6%	-4.9M	-385.0M	-2.2M	0.87	28.87	N/A	N/A	59,924	52,092	296,506	271,340