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QQQ

Invesco QQQ TrustClose $723.03EOD only

Max Pain

$704.00

Next expiry Aug 10, 2026

Expected Move

±$3.08

0.4% from close

Price Gap

-19.03

Distance to max pain

IV Rank

Low premium

P/C OI

1.19

Slightly put-heavy

Consensus

6.5/10

Bearish tilt

Published snapshot: Aug 7, 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

Aug 7, 2026 close

QQQ Flow Report

Analysis based on market close June 25, 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 25, 2026. A newer flow report is available for June 29, 2026.

View latest report

Flow Verdict

Confidence:

5.5 / 10

base 5; -1 GEX/flow contradict; +1 spot 0.1% from MP; +0.5 VIX 19

Watch next session: $714; $712

Flow Summary

Net premium: +$381.7M bullish

P/C volume ratio: 1.12

P/C OI ratio: 1.49

Aggressive call buying at 714-717 suggests bullish positioning; elevated P/C ratios and negative gamma caution overextension. Spot near max pain, heavy put hedging at 711-718.

Notable Prints

QQQ 2026-06-25 $714.00 Call

Vol: 178,468

OI: 867

Vol/OI: 205.8x

IV: 23.1%

Notional: ~$63.0M

Intent: Bullish

Read-through: Call

QQQ 2026-06-25 $717.00 Call

Vol: 275,659

OI: 1,717

Vol/OI: 160.6x

IV: 6.9%

Notional: ~$19.3M

Intent: Bullish

Read-through: Call

QQQ 2026-06-25 $712.00 Put

Vol: 224,589

OI: 1,421

Vol/OI: 158.1x

IV: 5.3%

Notional: ~$225K

Intent: Bearish

Read-through: Put

QQQ 2026-06-25 $713.00 Put

Vol: 224,377

OI: 1,566

Vol/OI: 143.3x

IV: 4.3%

Notional: ~$224K

Intent: Bearish

Read-through: Put

QQQ 2026-06-25 $716.00 Put

Vol: 190,201

OI: 1,483

Vol/OI: 128.2x

IV: 1.3%

Notional: ~$761K

Intent: Bearish

Read-through: Put

Institutional Positioning

Call additions: Massive call volume at 714-717C (vol/oi 205, 160, 97)

Put additions: Heavy put volume at 711-716P (vol/oi 158, 143, 128, 118, 93)

GEX/DEX consistency: GEX -$388M (short gamma) consistent with DEX +250M (long delta); dealers net long delta with negative gamma.

OI clusters: Largest OI at 715C (3,339) and 715P (2,227); MP around 715.

Hedging evidence: Put buying at 711-716 suggests hedging; call buying could be directional or covering shorts.

Max pain context: Spot near MP (0.1% away); pinning likely for expiry.

Signal vs Noise

~Signal: Heavy call buying at 714-717 and put buying at 711-716 indicates large institutional positioning around MP.

~Noise: Some unusual prints with very low IV (e.g., 718P at 0% IV) may be illiquid or stale; ignore for direction.

Key Conclusions

📈Massive call buying 714-717C suggests bullish bets but neg gamma adds risk.

🛡️Heavy put protection 711-716P hedges downside; net mixed.

How to Use These Reports

This flow reflects the market close on June 25, 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.