On April 9, 2026, the Invesco QQQ Trust (QQQ) delivered a dominant bullish performance, characterized by a persistent "stair-step" rally that lasted throughout the entire session. After an early morning test of support near the $605.35 level, the index cleared its Opening Range High (ORH) and maintained a steady upward trajectory. The 1-minute chart shows the price riding a bullish trend ribbon, hitting eight distinct technical target levels to reach a session high of $610.51 before settling at $610.35. The index remained pinned above its adaptive 20-period EMA, signaling strong institutional buying conviction.
The 0-DTE (zero days to expiration) derivatives market for the $606.00 strike saw explosive, delta-driven gains for bulls as the stock moved deep "In-the-Money":
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$606.00 Call Option: These contracts staged a massive rally, mirroring the underlying index's climb. From an early morning low of $1.05, the calls skyrocketed through nine technical target levels to hit a daily peak of $4.65—a gain of over 340%. The calls maintained their strength into the closing bell, finishing at $4.45, rewarding traders who held through the afternoon expansion.
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$606.00 Put Option: In stark contrast, it was a "terminal zero" scenario for bears. After a brief morning peak of $1.60 during the initial market dip, the puts entered a relentless downward slide as the strike price was left far behind. By the final bell, the contracts were completely drained of value, losing over 99% of their premium to expire at the minimum tick of $0.01.
The technical setup was defined by a clean "Opening Range Breakout" that saw the index reclaim the $608 pivot and turn it into a reliable support floor mid-day. The LuxAlgo indicators showed "Huge" buying volume during the afternoon surge, particularly as the index broke through Target 4. This session served as a textbook example of how 0-DTE calls can capture massive gains during a confirmed trend day, while puts are decimated by the combined forces of price movement and terminal theta decay.
