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QQQ

Invesco QQQ TrustClose $717.54EOD only

Max Pain

$712.00

Next expiry May 26, 2026

Expected Move

±$7.45

1.0% from close

Price Gap

-5.54

Distance to max pain

IV Rank

High premium

P/C OI

1.71

Slightly put-heavy

Consensus

5.5/10

Range bias

Published snapshot: May 22, 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 22, 2026 close

QQQ Flow Report

Analysis based on market close May 26, 2026

Directional Theta Gang Flow Earnings Consensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

Flow Verdict

Confidence:

9 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 spot 1.9% from MP; +1 VIX 17

Flow Summary

Net premium: +$1.0B bullish

P/C volume ratio: 1.16

P/C OI ratio: 1.70

Heavy put buying at deep OTM strikes suggests hedging, but net premium positive and strong GEX pinning support bullish bias. Massive call volume at 728/731 indicates upside activity. Mixed flow but regime favors higher.

Notable Prints

QQQ 2026-05-26 $728.00 Put

Vol: 282,060

OI: 266

Vol/OI: 1060.4x

IV: 3.0%

Notional: ~$282K

Intent: Speculative hedging

Dual read: Hedge vs bet

Read-through: Heavy put volume near money

QQQ 2026-05-26 $729.00 Put

Vol: 231,837

OI: 233

Vol/OI: 995.0x

IV: 2.5%

Notional: ~$696K

Intent: Bearish speculation

Dual read: Hedging or lottery

Read-through: Large OTM put buying

QQQ 2026-05-26 $727.00 Put

Vol: 230,382

OI: 322

Vol/OI: 715.5x

IV: 4.1%

Notional: ~$230K

Intent: Speculative puts

Dual read: Part of spread

Read-through: Aggressive put stacking

QQQ 2026-05-26 $726.00 Put

Vol: 184,121

OI: 353

Vol/OI: 521.6x

IV: 5.1%

Notional: ~$184K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

QQQ 2026-05-26 $730.00 Put

Vol: 164,632

OI: 450

Vol/OI: 365.9x

IV: 3.5%

Notional: ~$6.6M

Intent: ATM protection

Dual read: Hedging spot

Read-through: Large ATM put volume

Institutional Positioning

Call additions: New calls at 728 (331K vol) and 731 (213K vol), vol/OI >190.

Put additions: Aggressive put buying at 724-731, vol/OI 200-1000+, >1M vol.

GEX/DEX consistency: Aligned: GEX +$534.8M, DEX +262.5M, bullish.

OI clusters: Top OI: calls 728 (1.4K), 731 (1.1K); puts 725 (553), 724 (372), 726 (353), 727 (322), 731 (338).

Hedging evidence: Heavy put hedging near spot for downside.

Max pain context: Spot above MP; gamma pinning regime.

Signal vs Noise

~Massive put vol 724-731 real hedging signal.

~Call vol 728,731 bullish positioning.

~Low put IV vs high call IV not noise.

Key Conclusions

🛡️Heavy put buying hedging despite bullish gamma.

📈Positive GEX/DEX and call activity suggest upside.

How to Use These Reports

This flow reflects the market close on May 26, 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.