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QQQ

Invesco QQQ TrustClose $710.62EOD only

Max Pain

$724.00

Next expiry Jun 25, 2026

Expected Move

±$13.54

1.9% from close

Price Gap

+13.38

Distance to max pain

IV Rank

Middle-high premium

P/C OI

1.49

Slightly put-heavy

Consensus

4.0/10

Bearish tilt

Published snapshot: Jun 24, 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 24, 2026 close

QQQ Theta 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.

Theta Verdict

Confidence:

5.5 / 10

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

IV Environment

IV Regime

Normal

IV vs VIX

IV (29.2%) is significantly above VIX (18.9%), indicating rich premium.

Favorable?

Term structure: Near-term skew is extreme: 0DTE put IV 62.7% vs call 20.7%; backwardation in puts suggests hedging pressure. Medium-term structure flat.

⚠️Near-term put IV at 62.7% signals heavy hedging

⚡0DTE call IV very low (20.7%) skews bearish

Pin Risk Assessment

Spot vs MP: At

GEX regime: Trending ($-388.1M)

Gamma flip: ~$660.00 — Approx — based on put OI concentration of 195,766 (7.9% below spot)

OI concentrations: Put OI heavy at $700 and below; call OI wall above $790. Gamma flip at $660.

Verdict: Spot at $702.65 is within put support zone; max pain $717 is above, so pin risk is moderate.

Premium Opportunities

Put credit spread

Sell 2026-07-17 $700.00/$699.00 put spread

Sell 2026-07-17 $700/$699 put spread for $0.27-$0.33 credit.

Credit: $0.27-$0.33

Max loss: $0.67

BE: $699.67

Mgmt: Close at 50% profit or if spot breaches $700.

Risk Alerts

!Dealer negative gamma ($-388M) can amplify moves.

!Trending gamma regime may accelerate price action.

!High put skew suggests tail risk hedging.

How to Use These Reports

This theta 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.