Home Options QQQReports

QQQ

Invesco QQQ TrustClose $749.58EOD only

Max Pain

$740.00

Next expiry Oct 5, 2026

Expected Move

±$5.67

0.8% from close

Price Gap

-9.58

Distance to max pain

IV Rank

Low premium

P/C OI

1.45

Slightly put-heavy

Consensus

6.5/10

Bearish tilt

Published snapshot: Oct 2, 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

Oct 2, 2026 close

QQQ Theta Report

Analysis based on market close June 29, 2026

Directional Theta Gang Flow Earnings Consensus

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

Theta 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

IV Environment

IV Regime

Normal

IV vs VIX

IV (28.1) significantly above VIX (17.65), elevated

Favorable?

Yes

Term structure: Steep contango; 0DTE put IV >70%, skew elevated

⚠️0DTE put IV 73% vs call 25%, extreme fear

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+200.9M)

Gamma flip: ~$660.00 — Approx — based on put OI concentration of 195,441 (8.8% below spot)

OI concentrations: Put OI heavy $680-$710, call wall $800+

Verdict: Pinning risk high; spot $710 near max pain

Premium Opportunities

Put credit spread

Sell 2026-07-31 $689.00/$677.00 put spread

Sells OTM put spread capturing elevated premium with limited downside.

Credit: $2.09-$2.56

Max loss: $9.44

BE: $686.44

Mgmt: Exit at 50% max gain or adjust if spot nears $700.

Iron condor

Sell 2026-07-24 $685.00/$670.00 put wing and $764.00/$772.00 call wing

Short call and put wings profit from range-bound action.

Credit: $3.38-$4.13

Max loss: $10.87

BE: 680.87 / 768.13

Mgmt: Manage wings if spot breaches $700 or $760.

Put diagonal

Sell 2026-07-24 $709.00 put / buy 2026-08-21 $705.00 put

Short front put, long back put benefiting from time decay and IV skew.

Debit: $5.61-$6.86

Max loss: $6.86

BE: Path-dependent

Mgmt: Roll short put if spot nears strike.

Risk Alerts

!0DTE expiry with inflated put IV

!Gamma flip at $660 if selloff

!Large put OI below spot

How to Use These Reports

This theta 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.