IONQ Options History — December 2025

In December 2025, IONQ traded between $44.95 and $54.58. ATM implied volatility averaged 83.2%, placing in the 22.8% IV rank vs the trailing year. The 30-day expected move averaged 24.0%. IV traded below realized volatility by 12.6% (HV 20d: 95.8%). Max pain ranged from $45.00 to $50.00. Net GEX was positive for 15 of 22 trading days. Term structure was in contango for 12 of 22 days. Put/call ratio averaged 0.77.

Notable Days

2025-12-04: Highest Volume — 156,784 contracts
2025-12-22: Largest IV spike — 5.9% change
2025-12-01: Highest IV Rank — 31.2%
2025-12-01: Largest Expected Move — 27.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$49.44	$44.95	$54.58	$47.59	$44.95
Max Pain	$46.64	$45.00	$50.00	$50.00	$45.00
ATM IV	83.2%	74.5%	90.3%	90.3%	74.5%
Expected Move	24.0%	21.3%	27.0%	27.0%	21.3%
HV 20d	95.8%	84.7%	103.9%	99.7%	89.4%
HV 60d	97.9%	94.7%	102.5%	100.7%	95.4%
IV Rank	22.8%	12.6%	31.2%	31.2%	12.6%
IV Percentile	14.1%	7.5%	26.2%	26.2%	7.5%
Term Structure	0.6%	-6.5%	5.4%	0.9%	4.8%
VWIV	85.5%	76.0%	96.2%	96.2%	76.0%
Skew 25d	-1.3%	-4.9%	4.1%	4.1%	-3.7%
Skew 10d	-5.8%	-23.0%	1.2%	-3.6%	-4.1%
Call IV 25d	84.3%	78.2%	90.6%	88.9%	79.4%
Put IV 25d	83.0%	75.7%	93.0%	93.0%	75.7%
Bid-Ask Spread %	40.74	28.56	49.08	46.16	38.94
Gamma HHI	0.05	0.03	0.07	0.03	0.04
Net GEX	1.3M	-2.0M	6.2M	986.5K	-1.1M
Net DEX	-274.3M	-585.7M	-90.4M	-244.0M	-92.1M
Net VEX	-2.9M	-3.2M	-2.5M	-3.0M	-2.6M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.77	0.46	1.37	0.78	0.46
Total Volume	50,340.091	25,037	156,784	34,381	29,588
Total OI	573,542.591	475,982	643,233	577,637	539,937

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	$47.59	$50.00	90.3%	27.0%	99.7%	31.2%	96.2%	4.1%	0.9%	986.5K	-244.0M	-3.0M	0.78	46.16	N/A	N/A	19,300	15,081	255,314	322,323
2025-12-02	$47.17	$50.00	87.3%	26.6%	98.1%	27.7%	94.0%	1.0%	0.6%	853.9K	-225.5M	-2.9M	1.04	42.57	N/A	N/A	14,125	14,660	261,603	324,733
2025-12-03	$48.33	$50.00	86.6%	26.2%	93.7%	26.8%	91.4%	-2.1%	-1.1%	1.4M	-247.5M	-2.9M	0.78	45.40	N/A	N/A	21,905	17,128	266,256	328,025
2025-12-04	$54.38	$45.00	87.9%	25.5%	102.1%	28.4%	89.8%	-2.1%	3.2%	6.2M	-585.7M	-3.1M	0.74	36.22	N/A	N/A	89,977	66,807	273,703	329,487
2025-12-05	$52.84	$46.00	87.0%	25.1%	102.0%	27.3%	89.3%	-1.6%	-1.6%	3.1M	-502.0M	-3.2M	0.97	37.63	N/A	N/A	32,717	31,831	287,459	355,774
2025-12-08	$54.36	$46.00	87.0%	25.2%	102.3%	27.2%	88.5%	-2.2%	2.5%	3.6M	-483.8M	-3.2M	0.50	41.57	N/A	N/A	24,098	11,960	259,972	319,253
2025-12-09	$54.58	$47.00	87.4%	24.6%	100.9%	27.8%	86.8%	-3.9%	-0.1%	4.2M	-485.3M	-3.1M	0.60	40.52	N/A	N/A	18,084	10,791	264,571	325,197
2025-12-10	$52.14	$47.00	85.8%	24.0%	101.8%	25.9%	85.1%	-3.2%	-4.6%	2.6M	-374.0M	-3.0M	0.54	49.08	N/A	N/A	20,906	11,194	266,387	327,453
2025-12-11	$52.47	$47.00	83.2%	23.8%	98.0%	22.8%	84.9%	-2.4%	-0.4%	3.2M	-388.9M	-3.0M	1.23	45.69	N/A	N/A	22,449	27,547	272,670	331,234
2025-12-12	$50.34	$47.00	86.8%	24.0%	92.1%	27.0%	84.6%	0.3%	-6.5%	400.6K	-300.5M	-2.9M	0.96	46.33	N/A	N/A	28,823	27,609	276,161	348,215
2025-12-15	$45.66	$46.00	82.0%	23.4%	98.0%	21.4%	84.4%	-1.6%	0.6%	-2.0M	-93.0M	-2.6M	0.79	36.42	N/A	N/A	26,957	21,366	256,791	319,990
2025-12-16	$49.41	$46.00	83.1%	23.9%	102.1%	22.7%	83.2%	-0.2%	-0.8%	286.5K	-250.6M	-2.8M	0.47	45.43	N/A	N/A	26,681	12,613	263,293	319,212
2025-12-17	$46.13	$46.00	84.2%	24.1%	103.9%	23.9%	85.4%	-1.4%	-1.6%	-1.0M	-131.3M	-2.6M	0.88	46.35	N/A	N/A	19,425	17,057	270,660	321,523
2025-12-18	$46.80	$46.00	80.5%	23.0%	103.6%	19.6%	88.7%	0.1%	2.5%	-1.6M	-136.9M	-2.6M	1.37	44.48	N/A	N/A	18,372	25,175	273,424	324,889
2025-12-19	$49.16	$46.00	80.2%	23.1%	87.3%	19.3%	84.1%	-1.6%	-1.9%	653.3K	-236.0M	-2.7M	1.00	44.20	N/A	N/A	29,365	29,459	277,705	339,560
2025-12-22	$53.70	$46.00	84.9%	24.2%	91.7%	24.8%	86.7%	-4.9%	-1.3%	3.8M	-401.0M	-2.9M	0.74	34.80	N/A	N/A	62,900	46,311	217,660	258,322
2025-12-23	$51.48	$46.00	81.3%	23.9%	84.7%	20.5%	84.3%	2.4%	2.2%	3.8M	-332.3M	-2.9M	0.65	39.69	N/A	N/A	23,525	15,229	242,565	280,526
2025-12-24	$49.73	$46.00	79.2%	22.7%	85.8%	18.1%	80.8%	-1.5%	2.4%	1.8M	-247.6M	-2.9M	0.65	40.91	N/A	N/A	15,165	9,872	248,222	284,964
2025-12-26	$45.95	$46.00	76.0%	21.9%	90.5%	14.4%	82.0%	-1.8%	5.4%	-1.9M	-90.4M	-2.6M	0.75	30.60	N/A	N/A	42,426	31,672	251,831	287,480
2025-12-29	$45.42	$46.00	77.1%	22.0%	89.8%	15.6%	79.0%	-2.3%	4.9%	-825.7K	-95.2M	-2.6M	0.52	28.56	N/A	N/A	31,247	16,357	235,503	277,879
2025-12-30	$45.14	$46.00	78.0%	21.8%	89.4%	16.7%	76.7%	-0.2%	1.9%	-844.0K	-91.2M	-2.5M	0.49	34.73	N/A	N/A	20,003	9,725	245,789	284,422
2025-12-31	$44.95	$45.00	74.5%	21.3%	89.4%	12.6%	76.0%	-3.7%	4.8%	-1.1M	-92.1M	-2.6M	0.46	38.94	N/A	N/A	20,280	9,308	252,933	287,004