IONQ Options History — September 2025

In September 2025, IONQ traded between $40.73 and $75.09. ATM implied volatility averaged 90.1%, placing in the 44.5% IV rank vs the trailing year. The 30-day expected move averaged 26.2%. IV traded above realized volatility by 16.3% (HV 20d: 73.8%). Max pain ranged from $40.00 to $60.00. Net GEX was positive for 19 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 0.92.

Notable Days

2025-09-12: Highest Volume — 475,023 contracts
2025-09-04: Largest IV spike — 14.3% change
2025-09-24: Highest IV Rank — 67.8%
2025-09-24: Largest Expected Move — 33.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$57.36	$40.73	$75.09	$42.91	$61.18
Max Pain	$45.19	$40.00	$60.00	$40.00	$60.00
ATM IV	90.1%	63.8%	114.9%	66.8%	96.7%
Expected Move	26.2%	20.8%	33.6%	21.2%	27.1%
HV 20d	73.8%	62.8%	88.5%	64.7%	88.5%
HV 60d	69.0%	61.9%	74.2%	62.2%	72.5%
IV Rank	44.5%	19.6%	67.8%	22.5%	50.7%
IV Percentile	34.1%	2.8%	65.9%	6.0%	39.7%
Term Structure	0.7%	-1.6%	7.5%	0.5%	-1.5%
VWIV	93.9%	73.8%	121.5%	76.2%	97.1%
Skew 25d	-6.1%	-17.3%	1.8%	-2.0%	-5.7%
Skew 10d	-4.1%	-19.2%	17.3%	4.3%	-7.8%
Call IV 25d	96.6%	72.6%	135.3%	76.9%	99.2%
Put IV 25d	90.5%	72.7%	118.0%	74.9%	93.5%
Bid-Ask Spread %	27.77	11.65	46.40	30.69	17.03
Gamma HHI	0.12	0.05	0.35	0.10	0.06
Net GEX	9.3M	-3.5M	20.1M	9.6M	-3.5M
Net DEX	-1.00B	-2.03B	-271.2M	-450.6M	-584.7M
Net VEX	-2.7M	-3.3M	-2.3M	-2.5M	-3.3M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.92	0.37	2.08	1.09	1.15
Total Volume	152,525.571	34,760	475,023	35,054	81,996
Total OI	695,993.905	604,712	874,985	641,714	638,096

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
2025-09-02	$42.91	$40.00	66.8%	21.2%	64.7%	22.5%	76.2%	-2.0%	0.5%	9.6M	-450.6M	-2.5M	1.09	30.69	N/A	N/A	16,739	18,315	299,967	341,747
2025-09-03	$40.73	$40.00	63.8%	21.2%	64.9%	19.6%	74.9%	1.3%	0.9%	457.0K	-271.2M	-2.4M	0.93	32.38	N/A	N/A	54,956	51,142	305,864	344,722
2025-09-04	$41.91	$40.00	72.9%	21.0%	65.2%	28.3%	74.2%	0.6%	0.1%	9.5M	-386.0M	-2.4M	0.37	19.93	N/A	N/A	25,333	9,427	320,827	362,487
2025-09-05	$41.92	$41.00	71.8%	20.8%	64.5%	27.2%	73.8%	0.1%	-0.3%	8.3M	-378.0M	-2.4M	0.87	34.46	N/A	N/A	69,637	60,310	330,187	365,036
2025-09-08	$41.02	$41.00	71.4%	21.0%	63.1%	26.8%	74.3%	1.8%	-1.6%	4.6M	-321.1M	-2.3M	0.96	11.65	N/A	N/A	57,673	55,408	300,668	343,091
2025-09-09	$44.03	$41.00	71.8%	21.8%	64.2%	27.2%	76.4%	-3.2%	0.4%	10.9M	-589.1M	-2.4M	0.39	27.34	N/A	N/A	64,111	25,067	308,299	348,852
2025-09-10	$44.12	$41.00	75.3%	21.8%	62.8%	30.5%	76.8%	-2.2%	0.9%	15.2M	-633.0M	-2.4M	0.67	14.65	N/A	N/A	79,239	53,204	330,862	358,203
2025-09-11	$47.09	$41.00	77.0%	22.1%	64.9%	32.1%	78.0%	-2.1%	0.6%	19.5M	-880.1M	-2.4M	0.72	29.56	N/A	N/A	104,298	74,615	335,799	365,542
2025-09-12	$54.96	$41.00	85.6%	24.5%	82.9%	40.2%	87.5%	-2.6%	-0.3%	11.1M	-1.45B	-2.4M	0.66	37.63	N/A	N/A	287,021	188,002	351,161	383,942
2025-09-15	$59.39	$43.00	88.6%	25.3%	85.1%	43.1%	89.8%	-9.1%	-1.0%	17.3M	-1.37B	-2.5M	0.39	36.96	N/A	N/A	110,338	43,177	342,201	391,238
2025-09-16	$61.91	$44.00	96.0%	27.4%	85.2%	50.0%	100.8%	-8.3%	3.7%	14.7M	-1.47B	-2.5M	0.57	40.07	N/A	N/A	91,565	52,278	329,428	402,402
2025-09-17	$65.97	$44.00	99.4%	28.5%	74.5%	53.2%	102.8%	-7.5%	-0.3%	15.3M	-1.76B	-2.6M	0.93	46.40	N/A	N/A	155,692	144,246	357,810	428,613
2025-09-18	$65.56	$45.00	98.6%	28.2%	75.0%	52.5%	102.2%	-8.5%	0.8%	13.8M	-1.69B	-3.0M	0.67	45.76	N/A	N/A	98,927	65,946	376,154	478,479
2025-09-19	$70.45	$45.00	100.5%	28.7%	76.1%	54.3%	102.2%	-12.2%	1.7%	20.1M	-2.03B	-2.9M	1.06	44.29	N/A	N/A	100,348	106,680	376,505	498,480
2025-09-22	$72.20	$46.00	114.5%	32.1%	74.9%	67.5%	120.3%	-11.6%	0.2%	6.9M	-1.34B	-3.0M	0.69	19.35	N/A	N/A	104,048	71,691	272,876	337,487
2025-09-23	$75.09	$47.00	114.4%	33.0%	71.8%	67.4%	121.5%	-12.3%	-1.3%	8.0M	-1.44B	-3.1M	1.04	18.62	N/A	N/A	76,455	79,603	285,164	342,138
2025-09-24	$73.58	$49.00	114.9%	33.6%	73.9%	67.8%	120.0%	-17.3%	7.5%	4.5M	-1.32B	-3.2M	0.92	19.96	N/A	N/A	63,929	58,533	283,042	370,778
2025-09-25	$69.67	$50.00	108.8%	31.9%	79.8%	62.1%	114.0%	-8.3%	-0.4%	1.7M	-1.09B	-3.3M	2.08	18.62	N/A	N/A	48,296	100,684	301,496	388,218
2025-09-26	$66.75	$50.00	103.7%	29.5%	83.2%	57.3%	105.2%	-11.7%	0.4%	7.5M	-888.5M	-3.3M	2.01	19.03	N/A	N/A	51,893	104,055	310,752	402,547
2025-09-29	$64.06	$60.00	100.6%	28.5%	85.4%	54.4%	103.3%	-8.2%	4.3%	-873.6K	-729.0M	-3.3M	1.09	18.84	N/A	N/A	46,970	51,190	263,180	341,532
2025-09-30	$61.18	$60.00	96.7%	27.1%	88.5%	50.7%	97.1%	-5.7%	-1.5%	-3.5M	-584.7M	-3.3M	1.15	17.03	N/A	N/A	38,166	43,830	277,739	360,357