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QQQ

Invesco QQQ TrustClose $706.52EOD only

Max Pain

$723.00

Next expiry Jun 29, 2026

Expected Move

±$10.71

1.5% from close

Price Gap

+16.48

Distance to max pain

IV Rank

Middle-high premium

P/C OI

1.48

Slightly put-heavy

Consensus

6.5/10

Bearish tilt

Published snapshot: Jun 26, 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

Jun 26, 2026 close

QQQ Flow Report

Analysis based on market close June 29, 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 2.0% from MP; +1 VIX 18

Watch next session: QQQ; SPY

Flow Summary

Net premium: +$1.4B bullish

P/C volume ratio: 1.30

P/C OI ratio: 1.41

Aggressive day-trader put buying (strikes 716-724) appears hedging or speculative, while massive net call premium and positive GEX/DEX indicate institutional bullish conviction pinning near max pain. High confidence supports upside continuation.

Notable Prints

QQQ 2026-06-29 $722.00 Put

Vol: 182,034

OI: 328

Vol/OI: 555.0x

IV: 3.2%

Notional: ~$364K

Intent: Closing long puts

Read-through: Bearish unwind

QQQ 2026-06-29 $723.00 Put

Vol: 231,161

OI: 459

Vol/OI: 503.6x

IV: 3.4%

Notional: ~$2.8M

Intent: Closing long puts

Read-through: Bearish unwind

QQQ 2026-06-29 $721.00 Put

Vol: 122,878

OI: 271

Vol/OI: 453.4x

IV: 3.9%

Notional: ~$123K

Intent: Closing long puts

Read-through: Bearish unwind

QQQ 2026-06-29 $719.00 Put

Vol: 130,213

OI: 488

Vol/OI: 266.8x

IV: 6.1%

Notional: ~$130K

Intent: Closing long puts

Read-through: Bearish unwind

QQQ 2026-06-29 $724.00 Put

Vol: 89,254

OI: 398

Vol/OI: 224.3x

IV: 4.9%

Notional: ~$5.4M

Intent: Closing long puts

Read-through: Bearish unwind

Institutional Positioning

Call additions: Calls adding at 723-724 strikes (vol/oi ~180)

Put additions: Puts adding across 716-724 strikes, heaviest at 722-723 (vol/oi >500)

GEX/DEX consistency: GEX +200.9M, DEX +251M shares; consistent positive gamma/delta pinning

OI clusters: Put OI cluster 195k contracts 8.8% below spot; put/call OI ratio 1.41

Hedging evidence: Massive put volume suggests hedging or downside protection

Max pain context: Spot above MP by ~2%; gamma pinning above MP

Signal vs Noise

~0DTE put/call volume likely expiration noise

~GEX/DEX positive gamma/delta signal pinning

~Put OI cluster at 716-718 real hedging floor

Key Conclusions

📌QQG pinning above MP with positive GEX/DEX; massive put volume at 722-724 suggests resistance.

⚠️Massive 0DTE put volume on 722-723 strikes likely noise, not directional signal.

🛡️Put OI cluster at 716-718 indicates institutional hedging floor near -8.8%.

How to Use These Reports

This flow reflects the market close on June 29, 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.