D-Wave Quantum Inc., trading under the ticker “QBTS” on Nasdaq, develops quantum computing systems and software. Since its inception in 2020, QBTS reached an all-time low of 0.40 in May 2023. It has shown significant growth, rising 41 times by November 2024.

Currently, QBTS is in a bullish phase, trading against its August 2025 low. It is expected to move into the $41.25 – $43.95 range, potentially reaching $46.87 – $47.93 if momentum holds. A correction in 3, 7, or 11 swings is anticipated, with (4) likely to retrace between 0.236 – 0.382 Fibonacci levels of (3).

Since May 2023, the stock has demonstrated a bullish impulse rally and trades in ((3)) of I. Highs and lows throughout 2024 and 2025 include $3.20, $10.50, and $11.41, with December 2024 and January 2025 marking key points. In 2025, it has surpassed $20.56 and has continued its upward trajectory beyond a double correction low of $14.20 reached in August.

This article does not offer investment advice. You should conduct personal research before making investment decisions. FXStreet and the author are not liable for the information used and do not provide personalised recommendations.

Based on this analysis, D-Wave Quantum (QBTS) appears to be nearing a short-term peak after its incredible rise since late 2024. We see the stock likely to push into the $41.25 – $43.95 area before a meaningful pullback begins. Chasing the stock higher with new long positions at this moment is risky, as we are likely in the final leg of the current upward thrust that started in August 2025.

Given the stock’s more than 4,000% gain over the past year, implied volatility in the options market has remained elevated, making options premium expensive. This reflects the market’s expectation of continued large price swings, which aligns with our view of an impending correction. This setup suggests that derivative strategies should be focused on positioning for the next move, which we believe will be a temporary downturn.

The fundamental backdrop for the quantum computing industry remains very bullish, with recent market forecasts projecting the sector to grow to over $65 billion by 2030. This supports the idea that any significant dip in QBTS is a buying opportunity, not a trend reversal. We saw similar volatile but ultimately upward price action in trailblazing tech stocks like NVIDIA during its massive run-up in 2023 and 2024, where sharp pullbacks were healthy consolidation periods.

Therefore, the primary strategy for the next few weeks is to remain patient and wait for this current upward wave to show signs of exhaustion. Once the rally stalls and a pullback begins, traders could consider buying near-term put options to capitalize on the expected corrective move. This correction, or wave (4), is anticipated to retrace a portion of the gains made since the August low of $14.20.

As that correction finds its footing, we would then look to shift strategies. Selling cash-secured puts at a lower strike price could be an effective way to collect premium or acquire the stock at a discount. For those wanting to position for the next major leg up, buying longer-dated call options once the pullback establishes a clear bottom will be the optimal play.