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QQQ

Invesco QQQ TrustClose $714.71EOD only
Max Pain
$700.00
Next expiry May 14, 2026
Expected Move
±$6.73
0.9% from close
Price Gap
-14.71
Distance to max pain
IV Rank
77
High premium
P/C OI
1.72
Slightly put-heavy
Consensus
9.0/10
Bullish tilt
Published snapshot: May 13, 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 13, 2026 close
QQQ Theta Report
Analysis based on market close May 14, 2026
DirectionalTheta GangFlowEarningsConsensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

Theta Verdict

Attractiveness8 / 10
Sizing: Moderate
Primary: Short puts
Invalidation: Break below $690 or above $730
Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 spot 1.4% from MP; +1 VIX 17

IV Environment

IV Regime
Normal
IV vs VIX
Avg IV 30% > VIX 17.3; premiums rich
Favorable?
Yes

Term structure: Front-end low IV but put skew extreme; back-end elevated

⚠️Extreme put skew on 0DTE
📌Max pain pinning $710-$705

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+475.2M)

Gamma flip: ~$590.00 — Approx — based on put OI concentration of 106,970 (18.0% below spot)

OI concentrations: Put floor $570-$650; max pain $710/$653/$705

Verdict: High pin probability near max pain due to dealer hedging

Premium Opportunities

#1
Put credit spread
Sell 2026-06-05 $703.00/$679.00 put spread
Sell put spread at 703/679 for rich premium with protection.
Credit: $4.17-$5.09
Max loss: $18.91
BE: $697.91
Mgmt: Monitor invalidation level $710; close if breached.
#2
Short strangle
Sell 2026-06-05 $696.00 put + sell $750.00 call
Sell put at $696 and call at $750 for double premium.
Credit: $10.37-$12.67
Max loss: Unlimited
BE: 683.33 / 762.67
Mgmt: Adjust legs if underlying approaches strikes; set exit targets.

Risk Alerts

!Gamma flip at $590
!Large put OI below spot
!Elevated skew on term structure
How to Use These Reports
This theta reflects the market close on May 14, 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.