Moderately bullish activity in D-Wave Quantum (QBTS), with shares up $1.10, or 5.39%, near $21.59. Options volume roughly in line with average with 29k contracts traded and calls leading puts for a put/call ratio of 0.34, compared to a typical level near 0.46. Implied volatility (IV30) is higher by 4.0 points near 104.56,and above the 52wk median, suggesting an expected daily move of $1.42. Put-call skew steepened, indicating increased demand for downside protection.Looking ahead: D-Wave Quantum (QBTS) will report earnings before the open on 2026-05-12.Option markets are pricing in a 50% probability of a move greater than 13.74% or $2.97.
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