SQQQ Options History — December 2025

In December 2025, SQQQ traded between $65.27 and $74.59. ATM implied volatility averaged 53.3%, placing in the 12.9% IV rank vs the trailing year. The 30-day expected move averaged 15.3%. IV traded below realized volatility by 3.0% (HV 20d: 56.3%). Max pain ranged from $68.00 to $72.00. Net GEX was positive for 20 of 22 trading days. Term structure was in contango for 19 of 22 days. Put/call ratio averaged 0.38.

Notable Days

2025-12-12: Highest Volume — 78,030 contracts
2025-12-26: Largest IV spike — 7.9% change
2025-12-01: Highest IV Rank — 18.9%
2025-12-01: Largest Expected Move — 17.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$68.13	$65.27	$74.59	$69.03	$68.12
Max Pain	$68.36	$68.00	$72.00	$72.00	$68.00
ATM IV	53.3%	43.2%	60.7%	60.7%	48.6%
Expected Move	15.3%	12.1%	17.6%	17.6%	14.7%
HV 20d	56.3%	40.2%	71.0%	70.3%	40.7%
HV 60d	53.8%	52.1%	55.7%	52.1%	55.6%
IV Rank	12.9%	4.7%	18.9%	18.9%	9.1%
IV Percentile	31.1%	1.2%	61.1%	61.1%	7.5%
Term Structure	1.5%	-2.0%	5.8%	0.8%	2.2%
VWIV	56.6%	44.4%	65.6%	65.6%	52.3%
Skew 25d	-18.0%	-22.5%	-10.5%	-19.8%	-20.0%
Skew 10d	-34.0%	-40.8%	-23.1%	-38.8%	-31.3%
Call IV 25d	64.5%	47.3%	73.0%	73.0%	62.6%
Put IV 25d	46.5%	36.8%	53.2%	53.2%	42.6%
Bid-Ask Spread %	29.72	9.32	48.74	9.32	39.32
Gamma HHI	0.16	0.07	0.48	0.07	0.16
Net GEX	5.7M	-1.7M	17.0M	-560.3K	11.3M
Net DEX	-53.5M	-266.6M	78.0M	19.1M	-121.5M
Net VEX	-420.0K	-540.4K	-298.3K	-298.3K	-540.4K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.38	0.09	0.73	0.48	0.73
Total Volume	37,969.773	15,605	78,030	42,516	27,825
Total OI	87,478.864	46,442	117,341	46,442	88,742

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	$69.03	$72.00	60.7%	17.6%	70.3%	18.9%	65.6%	-19.8%	0.8%	-560.3K	19.1M	-298.3K	0.48	9.32	N/A	N/A	28,746	13,770	26,441	20,001
2025-12-02	$67.30	$70.00	58.3%	17.1%	71.0%	17.0%	62.1%	-18.0%	1.3%	1.6M	17.8M	-340.6K	0.31	10.95	N/A	N/A	25,830	7,913	42,383	23,679
2025-12-03	$66.84	$70.00	57.0%	16.4%	68.6%	15.9%	60.1%	-17.8%	0.9%	2.5M	13.0M	-364.1K	0.20	12.88	N/A	N/A	23,168	4,600	54,159	25,551
2025-12-04	$67.77	$68.00	56.4%	16.7%	68.4%	15.4%	65.2%	-16.7%	1.0%	4.2M	-11.8M	-377.8K	0.68	22.97	N/A	N/A	21,898	14,851	55,991	26,777
2025-12-05	$66.59	$68.00	54.8%	16.5%	65.2%	14.1%	64.5%	-14.4%	1.8%	15.6K	17.7M	-374.1K	0.26	23.87	N/A	N/A	51,786	13,653	61,544	27,800
2025-12-08	$67.41	$68.00	57.3%	16.7%	64.8%	16.1%	58.7%	-17.9%	0.4%	4.1M	-45.5M	-386.3K	0.26	23.90	N/A	N/A	19,179	4,940	47,147	20,917
2025-12-09	$66.65	$68.00	56.8%	16.5%	59.1%	15.7%	62.3%	-17.2%	0.2%	4.7M	-23.9M	-388.7K	0.17	25.10	N/A	N/A	13,285	2,320	51,139	22,569
2025-12-10	$65.56	$68.00	53.8%	15.7%	59.2%	13.4%	63.3%	-15.5%	1.1%	4.7M	-3.8M	-369.9K	0.31	24.62	N/A	N/A	36,885	11,557	56,452	23,300
2025-12-11	$66.88	$68.00	52.6%	15.5%	59.7%	12.3%	55.7%	-16.3%	1.0%	8.7M	-76.6M	-385.8K	0.22	26.85	N/A	N/A	49,105	10,963	71,321	28,226
2025-12-12	$70.63	$68.00	56.2%	16.4%	59.5%	15.3%	60.1%	-19.2%	1.9%	17.0M	-242.3M	-421.3K	0.41	24.02	N/A	N/A	55,147	22,883	80,511	28,959
2025-12-15	$71.41	$68.00	55.3%	15.9%	59.6%	14.6%	57.7%	-20.2%	0.4%	7.9M	-154.9M	-431.0K	0.40	23.78	N/A	N/A	24,330	9,665	63,359	19,905
2025-12-16	$70.80	$68.00	56.3%	16.2%	58.0%	15.3%	58.8%	-20.9%	-0.7%	9.4M	-150.1M	-451.0K	0.24	27.14	N/A	N/A	22,501	5,300	71,428	23,911
2025-12-17	$74.59	$68.00	59.6%	17.1%	60.8%	18.1%	57.6%	-20.5%	-1.6%	11.0M	-266.6M	-468.5K	0.66	24.19	N/A	N/A	20,822	13,792	75,648	26,518
2025-12-18	$71.15	$68.00	55.4%	15.9%	62.9%	14.6%	58.6%	-22.5%	-2.0%	10.2M	-137.3M	-468.3K	0.54	36.56	N/A	N/A	36,812	20,027	78,411	32,159
2025-12-19	$69.27	$68.00	51.7%	14.6%	59.7%	11.6%	54.4%	-19.9%	3.6%	12.0M	-37.5M	-422.6K	0.51	44.31	N/A	N/A	38,510	19,665	80,653	36,688
2025-12-22	$68.20	$68.00	48.0%	13.2%	47.0%	8.6%	47.9%	-19.0%	2.0%	1.1M	-9.7M	-408.4K	0.52	36.47	N/A	N/A	19,129	9,998	53,923	26,465
2025-12-23	$67.32	$68.00	44.6%	12.7%	40.5%	5.9%	44.4%	-18.9%	4.6%	535.2K	11.3M	-450.5K	0.18	47.47	N/A	N/A	26,780	4,928	63,468	31,517
2025-12-24	$65.28	$68.00	43.2%	12.1%	41.4%	4.7%	46.5%	-10.5%	5.8%	-1.7M	78.0M	-450.0K	0.35	43.84	N/A	N/A	11,641	4,079	67,111	34,566
2025-12-26	$65.27	$68.00	46.6%	12.1%	40.2%	7.5%	50.1%	-14.9%	4.5%	3.0M	40.0M	-446.5K	0.63	43.27	N/A	N/A	17,295	10,862	70,021	30,325
2025-12-29	$66.27	$68.00	49.2%	13.0%	40.7%	9.6%	49.5%	-19.7%	2.1%	3.8M	-32.3M	-476.5K	0.19	34.26	N/A	N/A	24,755	4,765	47,808	22,621
2025-12-30	$66.56	$68.00	49.6%	13.3%	40.7%	10.0%	50.1%	-16.8%	1.5%	9.3M	-60.4M	-518.9K	0.09	48.74	N/A	N/A	27,015	2,360	58,953	25,468
2025-12-31	$68.12	$68.00	48.6%	14.7%	40.7%	9.1%	52.3%	-20.0%	2.2%	11.3M	-121.5M	-540.4K	0.73	39.32	N/A	N/A	16,096	11,729	62,483	26,259