QQQ Implied Volatility: IV Now and History

QQQ (the Nasdaq-100 ETF) na benchmark chain for large-cap tech. This page dey track QQQ implied volatility, wey be the live market price for how the stock fit move later, for three ways: every session for the last three months, month-by-month history against the index benchmarks, and how e slope across expirations. Every number come from real option closing prices, and weekly batch dey refresh am.

QQQ implied volatility for the last 90 days

SELECT toString(date) AS session_date,
       round(100 * quantileExact(0.5)(implied_volatility), 1) AS atm_iv_pct
FROM global_markets.options_greeks
WHERE underlying_symbol = 'QQQ'
  AND date >= (SELECT max(date) - 90 FROM global_markets.options_greeks)
  AND iv_converged AND implied_volatility BETWEEN 0.02 AND 5
  AND abs(strike_price / underlying_close - 1) <= 0.05
  AND expiration_date BETWEEN date + 7 AND date + 60
GROUP BY date
HAVING count() >= 10
ORDER BY date

Each point na one session’s median implied volatility across QQQ near-the-money contracts (strikes wey dey within 5% of the stock, expiring from one week to two months). The latest reading na 18.7%. IV of that size na annualized number: the yearly percentage move wey option prices treat as normal. If you divide am by roughly 16, you get the implied one-day move.

QQQ IV history against the market, month by month

SELECT toString(toStartOfMonth(date)) AS month,
       round(100 * quantileExactIf(0.5)(implied_volatility, underlying_symbol = 'QQQ'), 1) AS qqq_iv_pct,
       round(100 * quantileExactIf(0.5)(implied_volatility, underlying_symbol = 'SPY'), 1) AS spy_iv_pct
FROM global_markets.options_greeks
WHERE underlying_symbol IN ('QQQ', 'SPY')
  AND date >= toDate('2022-07-01')
  AND iv_converged AND implied_volatility BETWEEN 0.02 AND 5
  AND abs(strike_price / underlying_close - 1) <= 0.05
  AND expiration_date BETWEEN date + 7 AND date + 60
GROUP BY month
HAVING countIf(underlying_symbol = 'QQQ') >= 50
ORDER BY month

The chart show QQQ fear gauge over time, compared with the market’s own gauge. The SPY line use the same measurement for the market benchmark chain. The latest month show 18.7% for QQQ against 12.8% for SPY. Diversified index almost always get lower implied volatility than any single name inside am. The gap between the lines na the single-name premium. How that gap widen and narrow na the story of QQQ risk cycles. The peaks show periods when option buyers pay the highest prices. The troughs show periods when market treat the name as quiet.

The term structure: QQQ IV by expiration

SELECT multiIf(days_to_expiry <= 14, 'Under 2 weeks', days_to_expiry <= 45, '2-6 weeks',
               days_to_expiry <= 120, '6 weeks - 4 months', 'Beyond 4 months') AS expiry_bucket,
       round(100 * quantileExact(0.5)(implied_volatility), 1) AS atm_iv_pct,
       count() AS contracts
FROM global_markets.options_greeks
WHERE underlying_symbol = 'QQQ'
  AND date = (SELECT max(date) FROM global_markets.options_greeks)
  AND iv_converged AND implied_volatility BETWEEN 0.02 AND 5
  AND abs(strike_price / underlying_close - 1) <= 0.05
GROUP BY expiry_bucket
HAVING count() >= 5
ORDER BY min(days_to_expiry)

When you read across the buckets, you see WHEN the market dey expect movement. If front end dey above back end, e mean say market dey price near-term event risk: report, decision or catalyst inside that window. Flat or upward-sloping curve na the normal state: more time means more uncertainty, so IV dey rise gently.

FAQ

Wetin be QQQ implied volatility right now?

18.7% at the money as of the latest session on file. The measurement cover near-the-money contracts wey expire between 7 and 60 days. The 90-day chart above show the full recent path. The number dey refresh with the weekly batch.

QQQ IV high or low right now?

Judge am in three ways: compare am with its own recent path in the 90-day chart; compare am with its own history in the monthly chart, where the latest month reads 18.7%; and compare am with the benchmarks wey dey on the same axes. To see where market extremes dey, the high-IV board dey track the names wey dey price the biggest moves.

How dem measure am?

Dem use QQQ near-the-money contracts, with strikes wey dey within 5% of the stock price, at each session close. Dem keep only contracts where the volatility solve converge. Each value na the median. Thin sessions and months dey drop based on the contract floors wey show for each panel’s SQL. Each contract get its own IV figure for the quoted chain, so when you read chain column by column you go see exactly which numbers dem use build these medians.

Wetin dey move QQQ implied volatility?

Scheduled events dey load IV before the event and crush am after; realized turbulence dey push am up; calm market dey grind am down. The monthly history above na the record of exactly these cycles.

Every panel na stored, versioned query across the full options tape. You fit expand any panel to audit am, or measure any strike for QQQ chain on the Strasmore terminal. For the concept, start with wetin implied volatility be; to understand how strikes differ for the same stock, see volatility skew.