Analysis of D-Wave Quantum Options Trading
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 days ago
0mins
Should l Buy QBTS?
Source: NASDAQ.COM
- Options Selling Risk: Selling puts on D-Wave Quantum does not provide the same upside potential as owning shares, as the seller only acquires shares if the contract is exercised, meaning the only gain before a 59.1% decline is the 12.4% annualized premium collected.
- Historical Volatility Insight: With a historical volatility of 124%, analyzing D-Wave Quantum's fundamentals alongside this metric can help investors assess whether selling the January 2028 puts at an $8 strike price is a worthwhile risk for the potential return.
- Market Trading Dynamics: As of Friday afternoon, the put volume among S&P 500 components reached 1.33 million contracts, matching call volume, resulting in a put:call ratio of 0.73, indicating a higher-than-normal interest in puts compared to the long-term median of 0.65, reflecting investor concern over downside risks.
- Options Market Trends: Current trading data shows heightened interest in D-Wave Quantum's put options, indicating market uncertainty regarding its future performance, prompting investors to carefully evaluate the associated risks and rewards.
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Analyst Views on QBTS
Wall Street analysts forecast QBTS stock price to rise
13 Analyst Rating
13 Buy
0 Hold
0 Sell
Strong Buy
Current: 18.820
Low
35.00
Averages
40.67
High
48.00
Current: 18.820
Low
35.00
Averages
40.67
High
48.00
About QBTS
D-Wave Quantum Inc. is a quantum computing company, which is engaged in the development and delivery of quantum computing systems, software, and services. The Company builds and delivers systems, cloud services, application development tools, and professional services to support the end-to-end quantum computing journey for enterprises and developers. The Company's products include Cloud Platform, Systems, Professional Services, and others. Under its Cloud Platform, the Leap quantum cloud service delivers immediate, real-time access to its quantum computers and hybrid solvers services. Under its Systems, the Advantage quantum system is a quantum computer designed for business. It also offers quantum applications to a range of customers, including resource scheduling, factory scheduling, industrial construction design, drug discovery, and others. It offers solutions across workforce scheduling, production scheduling, vehicle routing, resource optimization, and cargo loading.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Significant Revenue Growth: D-Wave is projected to reach $43 million in revenue for 2026, representing a 68% increase from 2025, indicating rising market demand in the quantum computing sector, although overall profitability remains insufficient.
- Escalating Losses: Despite achieving $3.7 million in sales in Q3, D-Wave reported a net loss of $140 million in the same quarter, highlighting the financial pressures the company faces during its rapid expansion, which could undermine investor confidence going forward.
- Rising Expenditures: The company anticipates a 15% increase in operating expenses in Q4, primarily for R&D, and while such high spending is common in tech, it may exacerbate shareholder concerns regarding future returns.
- Increased Stock Price Risk: D-Wave's stock has fallen 35% over the past three months, largely due to a broader trend of investors seeking safer investments away from high-risk stocks, and with a price-to-sales ratio of 237 significantly above the tech sector average, further declines in stock price seem likely.
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D-Wave Quantum Stock Price Predicted to Decline
- Significant Revenue Growth: D-Wave reported a revenue of $3.7 million in Q3 2025, doubling year-over-year, with projections for 2026 sales reaching nearly $43 million, indicating strong market potential in quantum computing.
- Ongoing Loss Pressure: Despite revenue increases, D-Wave faced a net loss of $140 million in Q3 2023, highlighting rapid spending growth, particularly with R&D expenses expected to rise by 15% in Q4, which will continue to strain the company's finances.
- Stock Price Decline Risk: D-Wave's stock has already fallen 35% over the past three months, primarily due to investors' increasing aversion to riskier tech stocks, which may lead to further declines in stock price, especially in the absence of profitability.
- Valuation Concerns: With a price-to-sales ratio of 237, significantly higher than the tech sector average of 8, D-Wave's high valuation may exacerbate selling pressure from investors in the current market environment, further impacting stock performance.
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Earnings Season Insights: Major companies in the AI trade are posting strong earnings, which may influence stock prices positively, while the overall outlook for stocks remains bullish.
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Analysis of D-Wave Quantum Options Trading
- Options Selling Risk: Selling puts on D-Wave Quantum does not provide the same upside potential as owning shares, as the seller only acquires shares if the contract is exercised, meaning the only gain before a 59.1% decline is the 12.4% annualized premium collected.
- Historical Volatility Insight: With a historical volatility of 124%, analyzing D-Wave Quantum's fundamentals alongside this metric can help investors assess whether selling the January 2028 puts at an $8 strike price is a worthwhile risk for the potential return.
- Market Trading Dynamics: As of Friday afternoon, the put volume among S&P 500 components reached 1.33 million contracts, matching call volume, resulting in a put:call ratio of 0.73, indicating a higher-than-normal interest in puts compared to the long-term median of 0.65, reflecting investor concern over downside risks.
- Options Market Trends: Current trading data shows heightened interest in D-Wave Quantum's put options, indicating market uncertainty regarding its future performance, prompting investors to carefully evaluate the associated risks and rewards.
See More
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- Significant Financing Risks: These four quantum computing companies collectively issued over $4.1 billion in common stock and warrants in 2025 to raise capital, indicating their unproven operating models and posing dilution risks for existing shareholders.
- Increased Competitive Pressure: With major players like Amazon and Microsoft ramping up investments in quantum computing, the low barriers to entry could threaten the market position of pure-play quantum companies, potentially leading to their obsolescence as the technology matures.
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- Market Potential Analysis: According to a forecast by Boston Consulting Group, quantum computing could generate between $450 billion and $850 billion in global economic value by 2040, attracting significant investor interest despite its smaller market size compared to artificial intelligence.
- Risks and Challenges: While quantum computing stocks present substantial return potential, they face risks such as share dilution and slow commercialization; collectively, these four companies issued over $4.1 billion in common stock and warrants in 2025 to raise capital, which could negatively impact existing shareholders.
- Competitive Pressure: With the
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D-Wave Quantum Faces Significant Challenges Amid Revenue Growth
- Significant Revenue Growth: D-Wave is projected to reach $43 million in revenue for 2026, representing a 68% increase from 2025, indicating rising market demand in the quantum computing sector, although overall profitability remains insufficient.
- Escalating Losses: Despite achieving $3.7 million in sales in Q3, D-Wave reported a net loss of $140 million in the same quarter, highlighting the financial pressures the company faces during its rapid expansion, which could undermine investor confidence going forward.
- Rising Expenditures: The company anticipates a 15% increase in operating expenses in Q4, primarily for R&D, and while such high spending is common in tech, it may exacerbate shareholder concerns regarding future returns.
- Increased Stock Price Risk: D-Wave's stock has fallen 35% over the past three months, largely due to a broader trend of investors seeking safer investments away from high-risk stocks, and with a price-to-sales ratio of 237 significantly above the tech sector average, further declines in stock price seem likely.
See More
D-Wave Quantum Stock Price Predicted to Decline
- Significant Revenue Growth: D-Wave reported a revenue of $3.7 million in Q3 2025, doubling year-over-year, with projections for 2026 sales reaching nearly $43 million, indicating strong market potential in quantum computing.
- Ongoing Loss Pressure: Despite revenue increases, D-Wave faced a net loss of $140 million in Q3 2023, highlighting rapid spending growth, particularly with R&D expenses expected to rise by 15% in Q4, which will continue to strain the company's finances.
- Stock Price Decline Risk: D-Wave's stock has already fallen 35% over the past three months, primarily due to investors' increasing aversion to riskier tech stocks, which may lead to further declines in stock price, especially in the absence of profitability.
- Valuation Concerns: With a price-to-sales ratio of 237, significantly higher than the tech sector average of 8, D-Wave's high valuation may exacerbate selling pressure from investors in the current market environment, further impacting stock performance.
See More
MarketBeat Weekly Recap – February 9 to February 13
Market Overview: Stocks are under pressure despite cooler-than-expected inflation readings, with investors focusing on valuations, particularly in the artificial intelligence sector, as earnings season reveals strong numbers from major players.
AI Impact on Jobs: Concerns are growing about the impact of AI on the job market, leading to a circular debate among investors regarding future interest rate cuts and stock valuations.
Earnings Season Insights: Major companies in the AI trade are posting strong earnings, which may influence stock prices positively, while the overall outlook for stocks remains bullish.
Investment Opportunities: Analysts highlight specific stocks, including those in the insurance and energy sectors, as potential buys, while cautioning investors about the risks associated with tech stocks and the broader market's direction.
See More
Analysis of D-Wave Quantum Options Trading
- Options Selling Risk: Selling puts on D-Wave Quantum does not provide the same upside potential as owning shares, as the seller only acquires shares if the contract is exercised, meaning the only gain before a 59.1% decline is the 12.4% annualized premium collected.
- Historical Volatility Insight: With a historical volatility of 124%, analyzing D-Wave Quantum's fundamentals alongside this metric can help investors assess whether selling the January 2028 puts at an $8 strike price is a worthwhile risk for the potential return.
- Market Trading Dynamics: As of Friday afternoon, the put volume among S&P 500 components reached 1.33 million contracts, matching call volume, resulting in a put:call ratio of 0.73, indicating a higher-than-normal interest in puts compared to the long-term median of 0.65, reflecting investor concern over downside risks.
- Options Market Trends: Current trading data shows heightened interest in D-Wave Quantum's put options, indicating market uncertainty regarding its future performance, prompting investors to carefully evaluate the associated risks and rewards.
See More
Quantum Computing Stocks Face Major Risks Amidst Opportunities
- Market Potential: Quantum computing is projected to create between $450 billion and $850 billion in global economic value by 2040, offering substantial return potential for investors despite being significantly smaller than the trillion-dollar AI market.
- Stock Price Surge: As of October 2025, shares of IonQ, Rigetti Computing, D-Wave Quantum, and Quantum Computing Inc. have skyrocketed by 670%, 6,217%, 3,912%, and 2,798% respectively over the past 12 months, reflecting strong market confidence in quantum computing.
- Significant Financing Risks: These four quantum computing companies collectively issued over $4.1 billion in common stock and warrants in 2025 to raise capital, indicating their unproven operating models and posing dilution risks for existing shareholders.
- Increased Competitive Pressure: With major players like Amazon and Microsoft ramping up investments in quantum computing, the low barriers to entry could threaten the market position of pure-play quantum companies, potentially leading to their obsolescence as the technology matures.
See More
Quantum Computing Stocks Surge Up to 6,200% Over the Past Year
- Quantum Stock Performance: As of mid-October, stocks of IonQ, Rigetti Computing, D-Wave Quantum, and Quantum Computing Inc. surged by up to 6,200% over the past year, reflecting strong investor confidence and robust market demand for this nascent technology.
- Market Potential Analysis: According to a forecast by Boston Consulting Group, quantum computing could generate between $450 billion and $850 billion in global economic value by 2040, attracting significant investor interest despite its smaller market size compared to artificial intelligence.
- Risks and Challenges: While quantum computing stocks present substantial return potential, they face risks such as share dilution and slow commercialization; collectively, these four companies issued over $4.1 billion in common stock and warrants in 2025 to raise capital, which could negatively impact existing shareholders.
- Competitive Pressure: With the
See More
