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QQQ

Invesco QQQ TrustClose $695.33EOD only

Max Pain

$711.00

Next expiry Jul 20, 2026

Expected Move

±$9.62

1.4% from close

Price Gap

+15.67

Distance to max pain

IV Rank

Low premium

P/C OI

1.41

Slightly put-heavy

Consensus

6.5/10

Bearish tilt

Published snapshot: Jul 17, 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

Jul 17, 2026 close

QQQ Flow Report

Analysis based on market close June 5, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from June 5, 2026. A newer flow report is available for June 29, 2026.

View latest report

Flow Verdict

Confidence:

7 / 10

base 5; +2 GEX/flow strongly aligned; -0.5 spot 4.1% from MP; +0.5 VIX 22

Watch next session: 660 level; VIX action

Flow Summary

Net premium: -$4.5B bearish

P/C volume ratio: 1.01

P/C OI ratio: 1.67

QQQ -4.8% with heavy put flow, negative gamma. Massive OTM call buying expiring today speculative, not bullish. Bearish trend intact; focus 660 gamma flip.

Notable Prints

QQQ 2026-06-05 $719.00 Call

Vol: 145,314

OI: 273

Vol/OI: 532.3x

IV: 14.8%

Notional: ~$145K

Intent: Close short calls

Read-through:

QQQ 2026-06-05 $717.00 Call

Vol: 156,540

OI: 313

Vol/OI: 500.1x

IV: 12.9%

Notional: ~$157K

Intent: Close short calls

Read-through:

QQQ 2026-06-05 $716.00 Call

Vol: 174,734

OI: 381

Vol/OI: 458.6x

IV: 11.9%

Notional: ~$175K

Intent: Close short calls

Read-through:

QQQ 2026-06-05 $723.00 Call

Vol: 146,142

OI: 325

Vol/OI: 449.7x

IV: 18.4%

Notional: ~$146K

Intent: Close short calls

Read-through:

QQQ 2026-06-05 $726.00 Call

Vol: 219,316

OI: 495

Vol/OI: 443.1x

IV: 21.1%

Notional: ~$219K

Intent: Close short calls

Read-through:

Institutional Positioning

Call additions: Aggressive 0DTE call buying at strikes 708-726, volume 70k-219k each, likely speculative bounces.

Put additions: No significant put additions; put/call vol ratio ~1 neutral.

GEX/DEX consistency: Consistent: negative GEX from puts, positive DEX from calls; mixed signals.

OI clusters: Put OI ~194k at 660 (6.4% below spot); gamma flip near 660.

Hedging evidence: High put OI ratio 1.67 suggests existing downside hedging.

Max pain context: Spot below MP; no pinning expected given gamma flip below.

Signal vs Noise

~0DTE call volume is noise

~GEX alignment with drop is signal

~High put OI ratio indicates bearish positioning

Key Conclusions

📉QQQ -4.8% with heavy put protection; speculative calls suggest some expect rebound, but trend bearish.

⚠️Gamma flip at 660 may accelerate if spot breaks below; watch put OI cluster.

How to Use These Reports

This flow reflects the market close on June 5, 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.