SQQQ Options History — April 2025

In April 2025, SQQQ traded between $156.00 and $272.95. ATM implied volatility averaged 100.3%, placing in the 56.5% IV rank vs the trailing year. The 30-day expected move averaged 29.0%. IV traded below realized volatility by 68.7% (HV 20d: 169.0%). Max pain ranged from $165.00 to $185.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 9 of 21 days. Put/call ratio averaged 0.28.

Notable Days

2025-04-04: Highest Volume — 50,521 contracts
2025-04-10: Largest IV spike — 41.4% change
2025-04-04: Highest IV Rank — 100.0%
2025-04-08: Largest Expected Move — 45.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$191.52	$156.00	$272.95	$188.35	$157.85
Max Pain	$176.31	$165.00	$185.00	$165.00	$167.50
ATM IV	100.3%	66.1%	157.8%	71.3%	79.5%
Expected Move	29.0%	20.1%	45.5%	20.9%	25.1%
HV 20d	169.0%	84.5%	203.8%	84.5%	200.7%
HV 60d	110.2%	66.7%	127.5%	67.2%	127.5%
IV Rank	56.5%	32.9%	100.0%	43.5%	34.9%
IV Percentile	94.5%	80.2%	100.0%	88.1%	88.5%
Term Structure	-0.6%	-14.5%	12.9%	-1.9%	6.6%
VWIV	104.6%	67.9%	148.3%	67.9%	89.7%
Skew 25d	-35.9%	-70.1%	-19.1%	-35.1%	-23.7%
Skew 10d	-51.0%	-83.1%	-14.2%	-42.8%	-14.2%
Call IV 25d	121.0%	86.5%	196.9%	88.6%	96.6%
Put IV 25d	85.0%	53.5%	133.6%	53.5%	72.9%
Bid-Ask Spread %	30.37	14.68	42.11	16.27	42.11
Gamma HHI	0.06	0.04	0.11	0.07	0.06
Net GEX	6.3M	2.1M	14.2M	8.6M	6.6M
Net DEX	-361.4M	-945.7M	-46.8M	-371.2M	-144.1M
Net VEX	-1.6M	-1.7M	-1.4M	-1.4M	-1.5M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.28	0.17	0.41	0.38	0.18
Total Volume	28,575.095	15,568	50,521	17,706	27,450
Total OI	76,821.857	60,657	94,206	64,038	85,840

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
2025-04-01	$188.35	$165.00	71.3%	20.9%	84.5%	43.5%	67.9%	-35.1%	-1.9%	8.6M	-371.2M	-1.4M	0.38	16.27	N/A	N/A	12,790	4,916	44,763	19,275
2025-04-02	$182.65	$165.00	66.1%	20.1%	84.9%	36.8%	69.6%	-19.1%	12.9%	8.6M	-319.9M	-1.4M	0.28	14.68	N/A	N/A	15,632	4,452	49,254	20,569
2025-04-03	$211.50	$165.00	93.0%	25.4%	94.8%	71.8%	89.0%	-28.8%	-1.5%	14.2M	-731.3M	-1.5M	0.33	17.56	N/A	N/A	27,862	9,233	54,199	21,549
2025-04-04	$241.85	$170.00	127.5%	34.7%	104.0%	100.0%	117.5%	-29.1%	-14.5%	7.8M	-945.7M	-1.5M	0.27	30.92	N/A	N/A	39,839	10,682	51,371	26,051
2025-04-07	$254.15	$175.00	144.2%	41.3%	99.2%	100.0%	137.3%	-38.7%	1.3%	4.7M	-758.9M	-1.6M	0.39	25.11	N/A	N/A	27,914	10,876	41,864	21,600
2025-04-08	$272.95	$185.00	157.8%	45.5%	100.6%	100.0%	148.3%	-63.3%	3.6%	5.1M	-912.6M	-1.7M	0.26	25.12	N/A	N/A	25,697	6,760	46,114	26,238
2025-04-09	$175.10	$185.00	97.2%	26.3%	192.5%	49.5%	109.9%	-39.8%	-2.8%	2.6M	-141.3M	-1.5M	0.31	33.85	N/A	N/A	29,617	9,156	51,791	27,637
2025-04-10	$196.00	$185.00	137.4%	38.4%	195.8%	83.1%	135.7%	-37.1%	-9.7%	4.9M	-363.1M	-1.7M	0.25	27.76	N/A	N/A	38,584	9,810	58,371	28,434
2025-04-11	$180.90	$185.00	112.5%	31.4%	196.2%	62.3%	119.8%	-70.1%	-5.0%	4.3M	-215.3M	-1.6M	0.28	20.31	N/A	N/A	19,341	5,501	64,476	29,730
2025-04-14	$174.20	$185.00	96.6%	27.7%	196.2%	49.0%	115.2%	-42.0%	-2.5%	3.9M	-203.3M	-1.5M	0.21	39.88	N/A	N/A	18,680	3,938	49,433	23,364
2025-04-15	$177.25	$180.00	89.1%	25.4%	194.8%	42.9%	98.7%	-34.9%	1.1%	6.5M	-251.1M	-1.5M	0.34	36.25	N/A	N/A	11,955	4,112	55,965	24,702
2025-04-16	$196.40	$180.00	105.1%	30.1%	197.3%	56.2%	110.2%	-40.3%	5.8%	10.5M	-498.7M	-1.7M	0.19	32.70	N/A	N/A	26,698	4,950	59,925	25,451
2025-04-17	$192.60	$180.00	98.8%	28.4%	197.4%	50.9%	100.8%	-33.0%	-1.1%	11.4M	-435.6M	-1.6M	0.41	35.73	N/A	N/A	16,131	6,582	61,311	25,946
2025-04-21	$209.70	$180.00	110.1%	32.6%	199.6%	60.4%	113.7%	-34.0%	-1.0%	6.4M	-443.6M	-1.6M	0.31	29.43	N/A	N/A	14,531	4,494	42,558	18,099
2025-04-22	$192.60	$180.00	102.0%	30.4%	199.9%	53.6%	107.0%	-59.5%	3.1%	5.9M	-305.4M	-1.6M	0.32	32.97	N/A	N/A	14,029	4,475	45,520	20,127
2025-04-23	$179.25	$180.00	98.2%	28.6%	201.7%	50.4%	100.4%	-24.1%	-6.9%	5.3M	-196.0M	-1.6M	0.27	27.38	N/A	N/A	24,182	6,557	50,326	21,118
2025-04-24	$164.45	$175.00	84.2%	25.2%	203.6%	38.7%	94.9%	-25.8%	-2.2%	3.4M	-81.4M	-1.5M	0.25	34.96	N/A	N/A	23,869	5,955	55,575	22,843
2025-04-25	$159.75	$175.00	79.6%	24.1%	203.8%	34.9%	90.2%	-24.8%	-1.5%	2.1M	-46.8M	-1.5M	0.22	33.32	N/A	N/A	29,111	6,291	63,834	24,871
2025-04-28	$158.40	$170.00	79.0%	24.3%	200.6%	34.4%	90.5%	-23.2%	2.8%	4.7M	-119.6M	-1.5M	0.22	40.58	N/A	N/A	17,904	3,953	52,453	20,991
2025-04-29	$156.00	$170.00	77.2%	23.3%	200.5%	32.9%	89.4%	-28.1%	0.9%	4.5M	-103.4M	-1.5M	0.17	40.95	N/A	N/A	13,279	2,289	57,283	22,438
2025-04-30	$157.85	$167.50	79.5%	25.1%	200.7%	34.9%	89.7%	-23.7%	6.6%	6.6M	-144.1M	-1.5M	0.18	42.11	N/A	N/A	23,211	4,239	62,738	23,102