SQQQ Options History — November 2025

In November 2025, SQQQ traded between $65.00 and $78.28. ATM implied volatility averaged 72.1%, placing in the 28.6% IV rank vs the trailing year. The 30-day expected move averaged 21.1%. IV traded above realized volatility by 11.9% (HV 20d: 60.2%). Max pain ranged from $14.00 to $75.00. Net GEX was positive for 16 of 19 trading days. Term structure was in contango for 12 of 19 days. Put/call ratio averaged 0.34.

Notable Days

2025-11-07: Highest Volume — 84,746 contracts
2025-11-20: Largest IV spike — 103.0% change
2025-11-20: Highest IV Rank — 100.0%
2025-11-20: Largest Expected Move — 50.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$71.11	$65.00	$78.28	$65.00	$69.12
Max Pain	$65.11	$14.00	$75.00	$65.00	$73.00
ATM IV	72.1%	58.6%	160.5%	58.6%	60.0%
Expected Move	21.1%	17.0%	50.0%	17.0%	17.3%
HV 20d	60.2%	52.2%	71.6%	53.1%	70.7%
HV 60d	45.9%	39.0%	52.6%	39.0%	52.1%
IV Rank	28.6%	17.6%	100.0%	17.6%	18.3%
IV Percentile	75.1%	58.7%	100.0%	59.5%	58.7%
Term Structure	0.6%	-6.2%	7.3%	2.6%	-1.1%
VWIV	72.2%	62.9%	83.9%	64.6%	64.8%
Skew 25d	-31.1%	-195.7%	-15.8%	-19.5%	-19.5%
Skew 10d	-47.7%	-197.0%	-18.4%	-38.5%	-38.8%
Call IV 25d	91.8%	70.7%	272.2%	72.6%	72.7%
Put IV 25d	60.7%	49.2%	76.5%	53.0%	53.2%
Bid-Ask Spread %	11.19	2.62	42.91	2.62	11.19
Gamma HHI	0.19	0.11	0.51	0.15	0.42
Net GEX	7.8M	-6.0M	21.5M	8.7M	-6.0M
Net DEX	-384.4M	-4.50B	50.6M	-80.9M	46.8M
Net VEX	-1.1M	-1.5M	-240.4K	-1.2M	-290.3K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.34	0.14	0.77	0.17	0.37
Total Volume	40,560.105	0	84,746	28,615	22,984
Total OI	181,911.789	23,652	826,066	174,699	67,661

Daily Data (19 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
2025-11-03	$65.00	$65.00	58.6%	17.0%	53.1%	17.6%	64.6%	-19.5%	2.6%	8.7M	-80.9M	-1.2M	0.17	2.62	N/A	N/A	24,392	4,223	138,912	35,787
2025-11-04	$68.40	$65.00	60.9%	17.8%	56.4%	19.5%	65.9%	-21.5%	0.8%	13.1M	-206.1M	-1.4M	0.14	2.63	N/A	N/A	48,435	6,870	149,880	37,419
2025-11-05	$67.05	$65.00	59.2%	17.0%	55.9%	18.1%	62.9%	-18.1%	1.0%	11.0M	-118.4M	-1.2M	0.28	2.90	N/A	N/A	28,075	7,858	149,548	39,386
2025-11-06	$71.05	$70.00	65.6%	19.1%	60.1%	23.4%	72.9%	-21.4%	3.7%	15.9M	-272.1M	-1.4M	0.29	5.05	N/A	N/A	54,510	15,589	154,795	39,985
2025-11-07	$72.60	$70.00	68.7%	20.7%	52.2%	26.0%	76.5%	-23.1%	0.3%	21.5M	-324.4M	-1.5M	0.32	5.66	N/A	N/A	64,317	20,429	156,904	43,480
2025-11-10	$67.30	$70.00	59.6%	17.2%	55.9%	18.4%	72.8%	-17.1%	3.0%	7.2M	-74.2M	-1.2M	0.45	3.73	N/A	N/A	28,583	12,884	133,007	39,813
2025-11-11	$67.85	$70.00	59.2%	18.5%	54.9%	18.2%	66.9%	-17.7%	7.3%	8.8M	-102.3M	-1.3M	0.22	3.19	N/A	N/A	18,329	4,056	140,259	41,368
2025-11-12	$68.20	$70.00	64.2%	18.9%	54.7%	22.3%	69.5%	-18.0%	2.6%	10.1M	-115.1M	-1.3M	0.35	3.83	N/A	N/A	19,892	7,042	143,970	42,338
2025-11-13	$72.15	$70.00	72.2%	20.3%	58.5%	28.9%	76.0%	-23.1%	-2.4%	12.3M	-248.8M	-1.4M	0.28	6.98	N/A	N/A	42,514	11,838	145,996	42,660
2025-11-14	$72.15	$70.00	71.0%	19.6%	58.0%	27.9%	73.3%	-18.0%	0.5%	11.4M	-212.3M	-1.3M	0.31	14.30	N/A	N/A	49,943	15,287	146,732	47,618
2025-11-17	$74.90	$70.00	78.9%	22.6%	57.7%	34.5%	82.0%	-27.8%	1.4%	9.7M	-265.6M	-1.4M	0.27	5.50	N/A	N/A	35,222	9,341	131,529	38,834
2025-11-18	$76.25	$70.00	80.2%	23.0%	57.9%	35.6%	83.9%	-30.0%	1.3%	10.9M	-307.1M	-1.5M	0.32	7.06	N/A	N/A	33,486	10,763	136,330	40,284
2025-11-19	$75.55	$70.00	79.1%	22.7%	56.9%	34.6%	82.2%	-30.1%	1.5%	10.7M	-273.7M	-1.4M	0.53	6.89	N/A	N/A	28,358	15,079	136,854	43,051
2025-11-20	$71.00	$14.00	160.5%	50.0%	60.3%	100.0%	0.0%	-195.7%	0.0%	2.7M	-4.50B	-1.2M	0.00	11.48	N/A	N/A	0	0	651,934	174,132
2025-11-21	$78.28	$0.00	78.8%	22.9%	68.2%	33.6%	82.0%	-15.8%	-4.2%	1.6M	-88.9M	-460.6K	0.51	34.93	N/A	N/A	9,854	5,068	21,927	1,725
2025-11-24	$72.87	$40.00	71.2%	20.4%	71.2%	27.4%	74.0%	-27.7%	-0.4%	1.1M	-229.6M	-322.8K	0.77	42.91	N/A	N/A	26,752	20,582	41,956	5,910
2025-11-25	$71.85	$75.00	62.2%	18.2%	70.3%	20.1%	64.2%	-25.4%	-6.2%	-242.8K	17.5M	-240.4K	0.23	33.70	N/A	N/A	28,894	6,598	25,527	18,383
2025-11-26	$69.59	$75.00	61.1%	17.4%	71.6%	19.2%	65.0%	-20.6%	-1.2%	-2.3M	50.6M	-240.6K	0.27	8.00	N/A	N/A	25,709	6,886	30,632	19,798
2025-11-28	$69.12	$73.00	60.0%	17.3%	70.7%	18.3%	64.8%	-19.5%	-1.1%	-6.0M	46.8M	-290.3K	0.37	11.19	N/A	N/A	16,769	6,215	44,357	23,304