QAI Options History — December 2025

In December 2025, QAI traded between $33.54 and $34.19. ATM implied volatility averaged 51.3%, placing in the 31.8% IV rank vs the trailing year. The 30-day expected move averaged 12.8%. IV traded above realized volatility by 45.6% (HV 20d: 5.7%). Max pain ranged from $30.00 to $37.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 0 of 22 days. Put/call ratio averaged 0.00.

Notable Days

2025-12-03: Highest Volume — 4 contracts
2025-12-04: Largest IV spike — 98.5% change
2025-12-04: Highest IV Rank — 69.8%
2025-12-26: Largest Expected Move — 26.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$33.93	$33.54	$34.19	$33.75	$33.54
Max Pain	$36.05	$30.00	$37.00	$30.00	$37.00
ATM IV	51.3%	36.3%	103.7%	49.3%	52.3%
Expected Move	12.8%	9.8%	26.2%	14.1%	15.0%
HV 20d	5.7%	4.0%	7.2%	7.2%	6.6%
HV 60d	5.8%	5.6%	6.6%	5.7%	6.6%
IV Rank	31.8%	20.9%	69.8%	30.3%	32.5%
IV Percentile	42.0%	5.6%	95.6%	48.4%	55.2%
Term Structure	-5.8%	-8.9%	-4.1%	-8.9%	-8.6%
Skew 25d	59.2%	46.6%	77.4%	67.8%	74.8%
Skew 10d	67.4%	48.8%	96.9%	83.5%	81.3%
Call IV 25d	31.5%	22.6%	41.3%	32.9%	41.3%
Put IV 25d	90.7%	70.3%	116.1%	100.7%	116.1%
Bid-Ask Spread %	174.04	156.51	177.43	156.67	177.39
Gamma HHI	0.44	0.26	0.77	0.30	0.71
Net GEX	1.4K	253	2.6K	2.1K	424
Net DEX	-86.0K	-149.6K	-6.0K	-109.8K	-6.0K
Net VEX	-89	-160	-43	-126	-43
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.00	0.00	0.00	0.00	0.00
Total Volume	0.227	0	4	1	0
Total OI	43.545	8	61	56	8

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	Spread %	Call Wall	Put Wall	Call Vol	Call OI	Put OI
2025-12-01	$33.75	$30.00	49.3%	14.1%	7.2%	30.3%	0.0%	67.8%	-8.9%	2.1K	-109.8K	-126	156.67	N/A	N/A	1	45	11
2025-12-02	$33.79	$30.00	50.7%	14.5%	7.2%	31.3%	0.0%	71.2%	-4.5%	2.2K	-101.2K	-147	164.08	N/A	N/A	0	46	11
2025-12-03	$33.84	$30.00	52.2%	15.0%	6.8%	32.4%	0.0%	64.8%	-5.3%	2.0K	-116.0K	-116	156.51	N/A	N/A	4	46	11
2025-12-04	$33.86	$37.00	103.7%	9.8%	6.7%	69.8%	0.0%	48.8%	-4.5%	2.2K	-119.0K	-151	177.09	N/A	N/A	0	50	11
2025-12-05	$33.90	$37.00	54.9%	9.9%	6.4%	34.3%	0.0%	47.7%	-4.6%	2.6K	-106.7K	-160	176.81	N/A	N/A	0	50	11
2025-12-08	$33.88	$37.00	63.5%	10.2%	6.4%	40.6%	0.0%	46.6%	-4.9%	2.4K	-119.3K	-125	176.31	N/A	N/A	0	50	11
2025-12-09	$33.93	$37.00	66.0%	10.3%	5.8%	42.4%	0.0%	47.6%	-4.9%	2.3K	-119.7K	-125	176.38	N/A	N/A	0	50	11
2025-12-10	$34.09	$37.00	36.3%	10.4%	6.1%	20.9%	0.0%	48.9%	-4.7%	1.8K	-128.4K	-116	175.56	N/A	N/A	0	50	11
2025-12-11	$34.14	$37.00	36.7%	10.5%	6.1%	21.2%	0.0%	49.2%	-4.8%	1.6K	-130.7K	-107	177.36	N/A	N/A	0	50	11
2025-12-12	$33.94	$37.00	37.1%	10.6%	5.5%	21.5%	0.0%	49.7%	-5.2%	2.0K	-125.1K	-100	177.43	N/A	N/A	0	50	11
2025-12-15	$33.91	$37.00	38.5%	11.0%	5.5%	22.5%	0.0%	52.2%	-5.6%	1.9K	-126.4K	-93	176.84	N/A	N/A	0	50	11
2025-12-16	$33.88	$37.00	38.5%	11.0%	5.2%	22.5%	0.0%	54.8%	-4.6%	1.9K	-125.6K	-81	177.17	N/A	N/A	0	50	11
2025-12-17	$33.75	$37.00	39.2%	11.2%	5.4%	23.0%	0.0%	53.7%	-5.9%	1.1K	-129.5K	-69	176.36	N/A	N/A	0	50	11
2025-12-18	$33.88	$37.00	39.8%	11.4%	5.5%	23.4%	0.0%	56.7%	-4.1%	1.4K	-129.0K	-64	175.06	N/A	N/A	0	50	11
2025-12-19	$34.03	$37.00	40.8%	11.7%	4.8%	24.1%	0.0%	58.2%	-4.7%	467	-149.6K	-47	174.53	N/A	N/A	0	50	11
2025-12-22	$34.09	$37.00	44.1%	12.6%	4.7%	26.6%	0.0%	59.7%	-5.9%	472	-6.7K	-48	176.72	N/A	N/A	0	7	1
2025-12-23	$34.14	$37.00	45.0%	12.9%	4.6%	27.2%	0.0%	61.0%	-6.1%	476	-6.8K	-48	176.51	N/A	N/A	0	7	1
2025-12-24	$34.16	$37.00	46.2%	13.2%	4.4%	28.0%	0.0%	64.8%	-6.6%	253	-10.0K	-49	175.69	N/A	N/A	0	7	1
2025-12-26	$34.19	$37.00	91.5%	26.2%	4.0%	60.9%	0.0%	77.4%	-7.6%	269	-9.6K	-49	175.90	N/A	N/A	0	7	1
2025-12-29	$34.11	$37.00	52.0%	14.9%	4.1%	32.2%	0.0%	73.8%	-8.1%	254	-9.9K	-47	176.26	N/A	N/A	0	7	1
2025-12-30	$33.63	$37.00	50.7%	14.5%	6.6%	31.4%	0.0%	73.0%	-7.7%	424	-6.2K	-43	176.21	N/A	N/A	0	7	1
2025-12-31	$33.54	$37.00	52.3%	15.0%	6.6%	32.5%	0.0%	74.8%	-8.6%	424	-6.0K	-43	177.39	N/A	N/A	0	7	1