Home Options QQQReports

QQQ

Invesco QQQ TrustClose $701.53EOD only

Max Pain

$708.00

Next expiry May 20, 2026

Expected Move

±$7.46

1.1% from close

Price Gap

+6.47

Distance to max pain

IV Rank

Middle-high premium

P/C OI

1.67

Slightly put-heavy

Consensus

5.5/10

Consensus signal

Published snapshot: May 19, 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 19, 2026 close

QQQ Theta Report

Analysis based on market close May 19, 2026

Directional Theta Gang Flow Earnings Consensus

Consensus-supported lens with chain history and key metrics in the rail.

Theta Verdict

Confidence:

5.5 / 10

base 5; -1 GEX/flow contradict; +1 spot 0.5% from MP; +0.5 VIX 18

IV Environment

IV Regime

Normal

IV vs VIX

IV above VIX (24.86 vs 18.06), elevated

Favorable?

Term structure: 0DTE put skew extreme (59.63 vs 19.08); normal contango beyond 1DTE

⚠️0DTE put IV 59.63 vs call 19.08

📉Dealer negative gamma -$384.5M

🎯Max pain $705 (0DTE) - spot at MP

Pin Risk Assessment

Spot vs MP: At

GEX regime: Trending ($-384.5M)

Gamma flip: ~$590.00 — Approx — based on put OI concentration of 107,025 (15.9% below spot)

OI concentrations: Max pain: $705 (0DTE), $708 (1DTE), $710 (2DTE); put OI 15.9% below spot

Verdict: High pin risk for 0DTE; spot at max pain; OI concentrated near strikes

Premium Opportunities

Iron condor

Sell 2026-06-12 $684.00/$659.00 put wing and $724.00/$742.00 call wing

Sell put spread $684/$659 and call spread $724/$742, collecting $9.78 credit with max loss $15.22.

Credit: $8.00-$9.78

Max loss: $15.22

BE: 674.22 / 733.78

Mgmt: Monitor for breakout of $692–$705; adjust or close if spot approaches wings.

Risk Alerts

!Negative gamma -$384.5M amplifies moves

!Extreme put skew on 0DTE may cause rapid IV expansion

!Mixed flow and low VIX (18) suggest caution

!Whipsaw risk from mixed dealer flow

How to Use These Reports

This theta reflects the market close on May 19, 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.