SQQQ Options History — March 2025

In March 2025, SQQQ traded between $162.40 and $198.75. ATM implied volatility averaged 76.1%, placing in the 49.8% IV rank vs the trailing year. The 30-day expected move averaged 22.8%. IV traded above realized volatility by 4.8% (HV 20d: 71.3%). Max pain ranged from $140.00 to $165.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 0.37.

Notable Days

2025-03-04: Highest Volume — 47,458 contracts
2025-03-10: Largest IV spike — 16.2% change
2025-03-10: Highest IV Rank — 76.9%
2025-03-10: Largest Expected Move — 32.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$180.54	$162.40	$198.75	$169.75	$191.90
Max Pain	$148.88	$140.00	$165.00	$140.00	$165.00
ATM IV	76.1%	57.7%	97.0%	82.1%	75.4%
Expected Move	22.8%	17.8%	32.3%	24.3%	20.5%
HV 20d	71.3%	51.0%	86.1%	51.0%	84.6%
HV 60d	63.8%	58.2%	67.3%	58.5%	67.1%
IV Rank	49.8%	25.9%	76.9%	57.6%	48.8%
IV Percentile	89.6%	57.5%	99.6%	98.0%	93.3%
Term Structure	-0.2%	-8.4%	16.8%	16.8%	-0.7%
VWIV	80.2%	60.4%	109.9%	83.1%	69.8%
Skew 25d	-22.4%	-49.0%	21.3%	-2.9%	-49.0%
Skew 10d	-27.9%	-49.6%	-7.7%	-30.7%	-30.2%
Call IV 25d	85.1%	46.1%	112.8%	78.9%	95.2%
Put IV 25d	62.7%	41.2%	80.9%	76.0%	46.2%
Bid-Ask Spread %	19.18	5.67	99.83	11.16	16.78
Gamma HHI	0.11	0.06	0.48	0.07	0.08
Net GEX	8.5M	3.5M	18.4M	7.1M	7.4M
Net DEX	-418.2M	-708.0M	-179.5M	-373.7M	-389.6M
Net VEX	-1.2M	-1.3M	-1.1M	-1.2M	-1.3M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.37	0.17	0.52	0.52	0.29
Total Volume	26,305.048	14,656	47,458	34,761	24,259
Total OI	75,519	57,095	95,052	63,739	57,180

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
2025-03-03	$169.75	$140.00	82.1%	24.3%	51.0%	57.6%	83.1%	-2.9%	16.8%	7.1M	-373.7M	-1.2M	0.52	11.16	N/A	N/A	22,852	11,909	43,640	20,099
2025-03-04	$166.25	$140.00	79.8%	23.4%	51.9%	54.6%	84.9%	-37.5%	0.6%	7.0M	-349.3M	-1.2M	0.50	13.23	N/A	N/A	31,738	15,720	47,704	24,657
2025-03-05	$162.40	$140.00	76.8%	22.9%	51.1%	50.8%	83.0%	-28.2%	-0.9%	6.3M	-294.2M	-1.2M	0.44	14.74	N/A	N/A	16,908	7,462	53,242	27,738
2025-03-06	$176.70	$142.50	83.8%	26.6%	57.9%	59.7%	96.3%	-34.4%	1.8%	11.2M	-525.6M	-1.2M	0.41	12.99	N/A	N/A	23,397	9,595	57,041	29,631
2025-03-07	$173.50	$145.00	83.5%	25.0%	58.0%	59.3%	92.2%	-19.9%	-8.4%	18.4M	-470.6M	-1.2M	0.39	12.95	N/A	N/A	28,400	11,063	59,249	32,218
2025-03-10	$193.20	$145.00	97.0%	32.3%	67.2%	76.9%	109.9%	-31.9%	-4.6%	7.4M	-574.3M	-1.2M	0.47	5.67	N/A	N/A	21,640	10,068	46,823	22,512
2025-03-11	$190.30	$145.00	89.2%	30.5%	65.4%	66.8%	107.7%	-16.9%	-5.6%	7.1M	-535.4M	-1.3M	0.45	8.30	N/A	N/A	20,799	9,371	49,325	27,231
2025-03-12	$187.65	$150.00	87.7%	27.8%	66.2%	64.9%	95.9%	-13.1%	-4.9%	8.0M	-521.3M	-1.3M	0.48	11.03	N/A	N/A	17,247	8,199	53,447	29,187
2025-03-13	$198.75	$150.00	90.8%	28.5%	67.7%	68.9%	98.9%	-23.5%	-4.5%	13.1M	-708.0M	-1.3M	0.48	10.27	N/A	N/A	19,669	9,525	58,152	32,453
2025-03-14	$185.00	$150.00	79.5%	23.3%	72.0%	54.2%	83.4%	21.3%	-2.5%	8.7M	-492.6M	-1.3M	0.41	12.66	N/A	N/A	19,220	7,803	60,865	34,187
2025-03-17	$177.75	$145.00	72.7%	20.1%	73.8%	45.4%	69.4%	-19.7%	7.2%	6.0M	-363.7M	-1.2M	0.32	29.97	N/A	N/A	14,163	4,503	48,062	23,452
2025-03-18	$189.45	$145.00	76.3%	20.9%	75.7%	50.0%	72.7%	-18.5%	0.2%	8.2M	-505.3M	-1.2M	0.40	27.79	N/A	N/A	11,984	4,815	50,845	25,152
2025-03-19	$179.40	$145.00	68.0%	19.5%	79.5%	39.3%	70.6%	-15.6%	-4.8%	5.4M	-360.6M	-1.2M	0.33	30.08	N/A	N/A	13,609	4,483	51,608	26,808
2025-03-20	$183.35	$0.00	68.8%	20.4%	79.6%	40.4%	67.0%	-16.6%	-2.3%	7.6M	-429.9M	-1.2M	0.33	99.83	N/A	N/A	13,707	4,571	54,790	27,684
2025-03-21	$184.75	$150.00	68.4%	19.3%	77.9%	39.8%	70.7%	-17.2%	-0.5%	8.6M	-468.5M	-1.1M	0.34	12.35	N/A	N/A	19,427	6,511	56,312	28,292
2025-03-24	$170.55	$150.00	62.1%	17.9%	84.5%	31.6%	66.3%	-37.4%	0.6%	3.5M	-179.5M	-1.2M	0.28	8.06	N/A	N/A	15,224	4,248	38,986	18,109
2025-03-25	$168.05	$150.00	57.7%	17.8%	83.5%	25.9%	61.6%	-31.9%	5.8%	5.5M	-179.6M	-1.2M	0.17	30.99	N/A	N/A	12,508	2,148	44,716	19,136
2025-03-26	$174.85	$150.00	61.2%	18.8%	84.2%	30.5%	64.9%	-16.2%	-0.3%	9.9M	-269.9M	-1.3M	0.20	11.47	N/A	N/A	18,451	3,765	47,200	19,868
2025-03-27	$175.45	$165.00	63.8%	18.5%	80.5%	33.9%	60.4%	-23.9%	2.2%	9.3M	-271.4M	-1.3M	0.31	12.44	N/A	N/A	13,774	4,264	46,949	20,786
2025-03-28	$192.35	$165.00	74.1%	20.8%	86.1%	47.2%	74.9%	-36.4%	0.4%	13.3M	-518.3M	-1.3M	0.28	10.05	N/A	N/A	26,083	7,324	49,126	21,437
2025-03-31	$191.90	$165.00	75.4%	20.5%	84.6%	48.8%	69.8%	-49.0%	-0.7%	7.4M	-389.6M	-1.3M	0.29	16.78	N/A	N/A	18,811	5,448	39,441	17,739