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QQQ

Invesco QQQ TrustClose $684.23EOD only

Max Pain

$697.00

Next expiry Jul 27, 2026

Expected Move

±$8.80

1.3% from close

Price Gap

+12.77

Distance to max pain

IV Rank

Low premium

P/C OI

1.38

Slightly put-heavy

Consensus

6.5/10

Bearish tilt

Published snapshot: Jul 24, 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 24, 2026 close

QQQ Flow Report

Analysis based on market close June 10, 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 10, 2026. A newer flow report is available for June 29, 2026.

View latest report

Flow Verdict

Confidence:

9 / 10

base 5; +2 GEX/flow strongly aligned; override: GEX/flow aligned bearish

Watch next session: 696; 660

Flow Summary

Net premium: -$2.5B bearish

P/C volume ratio: 1.12

P/C OI ratio: 1.58

Heavy put buying and negative GEX indicate bearish positioning. Massive OTM call volume is likely hedging or speculation. Net premium negative aligns with bearish regime.

Notable Prints

QQQ 2026-06-10 $699.00 Call

Vol: 151,758

OI: 644

Vol/OI: 235.7x

IV: 6.4%

Notional: ~$152K

Intent: Close

Dual read: Spread

Read-through: Bear

QQQ 2026-06-10 $701.00 Call

Vol: 144,820

OI: 701

Vol/OI: 206.6x

IV: 8.6%

Notional: ~$145K

Intent: Close

Dual read: Spread

Read-through: Bear

QQQ 2026-06-10 $698.00 Call

Vol: 151,767

OI: 928

Vol/OI: 163.5x

IV: 5.5%

Notional: ~$152K

Intent: Close

Dual read: Spread

Read-through: Bear

QQQ 2026-06-10 $696.00 Put

Vol: 219,998

OI: 1,544

Vol/OI: 142.5x

IV: 33.0%

Notional: ~$68.2M

Intent: Buy

Dual read: Hedge

Read-through: Bear

QQQ 2026-06-10 $699.00 Put

Vol: 184,826

OI: 1,434

Vol/OI: 128.9x

IV: 32.5%

Notional: ~$106.1M

Intent: Buy

Dual read: Hedge

Read-through: Bear

Institutional Positioning

Call additions: Heavy OTM call volume at 698-705, likely dealer hedging or speculative

Put additions: Deep ITM puts at 696-699 with high IV, protective buying

GEX/DEX consistency: Mixed: GEX negative (-797.5M), DEX positive (+325.5M); consistent with hedging

OI clusters: High put OI ratio (1.58), resistance below spot

Hedging evidence: Large put purchases at 696-699, collars via OTM calls

Max pain context: Spot below MP; pinning pressure lower

Signal vs Noise

~OTM call volume is noise (lottery)

~Put buying at 696-699 is real signal

~Negative GEX and positive DEX consistent with hedging flow

Key Conclusions

🐻Institutions adding puts at 696-699; spot below MP and negative GEX

⚠️Gamma flip at 660; high VIX (22.2) suggests further downside risk

How to Use These Reports

This flow reflects the market close on June 10, 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.