Are Quantum Stocks Back? The Sector is Rallying

The Nasdaq Composite (IXIC) yesterday tapped its longest win streak in nearly five years. While semiconductor stocks have played an integral role and garnered most of the headlines, high-beta growth sectors like quantum computing are also part of the rally. IonQ Inc (NYSE:IONQ), Rigetti Computing Inc (NASDAQ:RGTI), and D-Wave Quantum Inc (NYSE:QBTS) are all soaring today, spurring a feeding frenzy in the options pits.

IONQ is up 18% to trade at $42.24, after the company scored a contract in the Heterogeneous Architectures for Quantum (HARQ) program within the Defense Advanced Research Projects Agency (DARPA). IonQ stock is up 48% in April alone, poised for its first close above its 80-day moving average since Nov. 11. 

At last look, 189,000 IONQ calls have exchanged hands, volume that's six times the average intraday amount. The April 40 call is the most active, with new positions being opened here.

RGTI is 13% higher to trade at $19.07, heading for a fourth-straight win and highest close since Jan. 30. Despite the 34.5% gain in April, the stock is down 14.6% in 2026. Although there's a call skew in Rigetti's options pits, the July 14 and May 18 puts are the most popular contracts, with new positions being bought to open at both.

QBTS is leading the pack, last seen 20.3% higher and trading at $20.41. The shares are testing their 80-day trendline but boast a 192% year-over-year lead. Most of the options activity is centered on the April 20 call.