Shares of IonQ Inc (NYSE:IONQ) are enjoying a 9.4% surge, trading $43.23 this morning after the quantum company hiked its full-year guidance. IonQ cited its acquisition of SkyWater, which has brought its expected 2026 fiscal year revenue to between $450 million and $460 million.
IONQ is now breaking above the $40 ceiling, which kept a lid on shares late last week. However, the 200-day moving average is still looming overhead, threatening to cap today's breakout. IonQ stock is carrying a 5% year-over-year gain.
Short interest has fallen 15.5% during the most recent reporting period, now accounting for 10.8% of the stock's available float. At IONQ's average pace of daily trading, it would take less than two days to buy back the 42.36 million shares sold short.
Call traders haven't wavered, per the stock's 10-day call/put volume ratio of 3.07 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks in the 99th percentile of its annual range. Echoing this, IONQ's Schaeffer's put/call open interest ratio (SOIR) comes in at 0.79, which ranks higher than just 2% of readings from the past year.
In fact, bulls are moving in already this morning, with 36,000 calls across the tape so far. This is five times the average intraday rate, with the September 42.50 call seeing sell-to-open activity.
These options are affordably priced as well. Specifically, IonQ stock's Schaeffer’s Volatility Index (SVI) of 72% stands in the 3rd percentile of its annual range.
The quantum stock also sports a Schaeffer's Volatility Scorecard (SVS) of 96 out of 100. This indicates the equity has tended to exceed option traders' volatility expectations during the past 12 months.
