3 Key Levels to Watch as QQQ Breaks Out

QQQ is rallying up toward its year-to-date breakeven level

Patrick Martin

Managing Editor

Apr 8, 2026 at 3:29 PM

Invesco QQQ Trust (QQQ) is reaping the benefits of risk-on attitude today, no matter how temporary it may end up being. The tech exchange-traded fund (ETF) is up 2.7% to trade at $605.40 at last glance, heading for a sixth-straight win in what would be its longest win streak since late January. The surge could spell trouble for options traders that have grown more bearish lately.

QQQ's 10-day put/call volume ratio of 1.28 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks higher than 86% of readings from the past year. September 540 put, while in the short term the April 625 puts were also opened.

QQQ traded as low as $555 on March 30, testing its 320-day moving average. Now, the shares are rallying up toward their year-to-date breakeven level, reclaiming $600 today for the first time in three weeks. However, keep note the double top formed to end 2025 and start the new year.

QQQ Chart

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