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QQQ

Invesco QQQ TrustClose $701.53EOD only

Max Pain

$708.00

Next expiry May 20, 2026

Expected Move

±$7.46

1.1% from close

Price Gap

+6.47

Distance to max pain

IV Rank

Middle-high premium

P/C OI

1.67

Slightly put-heavy

Consensus

5.5/10

Consensus signal

Published snapshot: May 19, 2026 close

End-of-day snapshot

This page reflects QQQ options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

May 19, 2026 close

QQQ Flow Report

Analysis based on market close May 19, 2026

Directional Theta Gang Flow Earnings Consensus

Consensus-supported lens with chain history and key metrics in the rail.

Flow Verdict

Confidence:

5.5 / 10

base 5; -1 GEX/flow contradict; +1 spot 0.5% from MP; +0.5 VIX 18

Watch next session: Monitor put/call volume ratio; Watch 700 strike for direction

Flow Summary

Net premium: +$152.6M bullish

P/C volume ratio: 1.13

P/C OI ratio: 1.67

Heavy call buying on 696-700 calls contrasts with high put/call OI ratio and negative gamma, indicating mixed but bearish-leaning sentiment. Net premium positive suggests hedging activity. Large put volume at 702-703 adds to caution.

Notable Prints

QQQ 2026-05-19 $697.00 Call

Vol: 70,910

OI: 348

Vol/OI: 203.8x

IV: 24.3%

Notional: ~$32.7M

Intent: Bullish directional bet

Dual read: Volatility positioning

Read-through: High vol/oi indicates aggressive call buying

QQQ 2026-05-19 $699.00 Call

Vol: 104,983

OI: 638

Vol/OI: 164.6x

IV: 23.2%

Notional: ~$30.0M

Intent: Similar bullish stance

Read-through: Accumulation of OTM calls

QQQ 2026-05-19 $698.00 Call

Vol: 85,804

OI: 540

Vol/OI: 158.9x

IV: 19.8%

Notional: ~$31.9M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

QQQ 2026-05-19 $700.00 Call

Vol: 209,830

OI: 1,526

Vol/OI: 137.5x

IV: 19.8%

Notional: ~$32.1M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

QQQ 2026-05-19 $696.00 Call

Vol: 42,079

OI: 419

Vol/OI: 100.4x

IV: 26.6%

Notional: ~$23.2M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Heavy call opening at 696-703 strikes, 702C/703C vol >200k vs OI ~2k.

Put additions: Concentrated put buying at 702-703, similar vol/OI, straddle positioning.

GEX/DEX consistency: GEX negative (-$384M), DEX positive (+253M); consistent with delta hedging.

OI clusters: Put OI heavy below 590; new OI at 702-703.

Hedging evidence: Dealers hedge gamma via delta; straddle at expiry suggests collar.

Max pain context: Spot at MP (~700), high put OI ratio (1.67) pinning.

Signal vs Noise

~Expiration volume at 702-703 is real signal of institutional straddle.

~Mixed ratios and low IV on 702C (2.2%) add noise.

Key Conclusions

📊Expiration straddle at 702-703; dealers short gamma; neutral.

📌Spot pinned to MP; high put OI supports pin.

⚠️Aggressive call buying at 702-703 may be noise.

How to Use These Reports

This flow reflects the market close on May 19, 2026.

What the reports do

Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.

How traders use them

Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.

What to remember

These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.

If the report conviction and the raw data disagree, slow down and resolve the mismatch before sizing risk.