Quantum Computing Stock Back Near Familiar Support

Short interest remains elevated with the 55.75 million shares sold short now accounting for 15.54% of QBTS' available float, and it would take short sellers roughly two days to buy back their bearish bets at the stock's average pace of trading.

It's also worth noting the equity's Schaeffer's Volatility Index (SVI) of 98% stands higher than just 20% of all other readings from the past year, implying that near-term option traders are pricing in relatively low volatility expectations.