QQQ’s Nov-19-25 605 Call Drives 4.6% of Options Volume with Price Jumping Over 300%
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Heavy Activity in 605 Call: 55,389 Contracts and 317% Price Surge Highlight Intraday Action
In today’s QQQ options market, all eyes are on the Nov-19-25 605 call expiring at the close. By 10:59 AM, this contract had seen a hefty 55,389 contracts traded—making up 4.6% of QQQ’s entire options volume for the session. With a price low of $0.72 and a high of $3.42, traders witnessed an extraordinary intraday swing of more than 317%, emphasizing just how active and speculative today’s zero days-to-expiration (0 DTE) landscape can get.
| Option Contract | Volume | Percent of Total Volume | VWAP ($) | Previous Close ($) | Open Price ($) | High ($) | Low ($) | Last Price ($) |
|---|---|---|---|---|---|---|---|---|
| Nov-19-25 605 Call | 55,389 | 4.6% | 2.28 | 1.37 | 0.82 | 3.42 | 0.72 | 2.16 |
QQQ Stock Stays Just Below the Strike: Is There Enough Momentum for a Finish in the Money?
As of the time of this analysis, QQQ is trading at $604.46—just $0.54 below the strike price of today’s most active contract. The underlying stock has moved between $596.14 and $606.16 during the morning session. With time running out for this 0 DTE option, the tug-of-war between bullish and bearish flows remains intense.
Order Flow Remains Balanced: Retail and Institutional Participation Nearly Equal
Drilling into the order flow data reveals a striking balance: 51.2% of trades classified as “bought,” versus 48.8% “sold.” The split between retail and professional/large traders is also evenly matched—49% from pros, 51% from retail participants. This balanced dynamic suggests no overwhelming consensus, but the outsized volume indicates significant speculative or hedging activity from both camps.
| Category | Percent |
|---|---|
| Bought | 51.2% |
| Sold | 48.8% |
| Large/Pro Trades | 49% |
| Small/Retail Trades | 51% |
Open Interest and Price Behavior Show Heightened Speculation
Yesterday’s open interest increased by 2,376 contracts to 4,935—a signal that traders ramped up their exposure heading into today’s expiry. Because open interest isn’t updated intraday, it will take another day to see whether this heavy volume represented new bets or profit taking. The combination of huge price swings and large contract turnover makes this a key contract to monitor in the closing hours of the trading day.
Takeaway: Short-Term Speculation Reigns as Expiry Looms
While there’s no clear signal that large institutions or retail traders are fully in control, the sheer scale and intraday volatility of the Nov-19-25 605 call hints at elevated speculative appetite for a late-session move in QQQ. If you’re watching for sharp, short-term opportunities—or gauging the pulse of market sentiment into the close—this option’s activity could provide early signals on QQQ’s end-of-day direction.
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