BNO - United States Brent Oil Fund LP
The Benchmark Futures Contract is the futures contract on Brent crude oil as traded on the Ice Futures Europe Exchange that is the near month contract to expire, except when the near month contract is within two weeks of expiration, in which case it will be measured by the futures contract that is the next month contract to expire.
As of May 15, 2026: spot at $57.67, ATM IV 85.1%, max pain $48.00, net GEX $20.6M.
- Sector
- Financial Services
- Industry
- Asset Management
- Market Cap
- $213.6M
- Beta
- 2.00
- 52-Week Range
- 26.59-60.81
- IPO Date
- Jun 2, 2010
- Exchange
- AMEX
What BNO Looks Like to Options Traders Today
IV rank of 55.1% sits near the 1-year median, where strategy choice depends on directional conviction and the event calendar rather than vol regime alone; positive net gamma exposure ($20.6M) means dealers hedge against trend, damping realized volatility and biasing price toward heavy-OI strikes; the 25-delta skew (-0.065) prices puts richer than calls, the typical equity downside-protection skew.
What This Page Covers
The BNO overview links into per-metric analysis views: max pain, gamma exposure, volatility skew, expected move, options chain, open interest history, and aggregate Greeks. Microstructure data is available on short interest, short volume, fail-to-deliver, and market structure.
Frequently asked BNO overview questions
- What is BNO?
- BNO is the ticker symbol for United States Brent Oil Fund LP, an listed exchange-traded fund. The Benchmark Futures Contract is the futures contract on Brent crude oil as traded on the Ice Futures Europe Exchange that is the near month contract to expire, except when the near month contract is within two weeks of expiration, in which case it will be measured by the futures contract that is the next month contract to expire. Listed on AMEX. BNO is the ETF ticker shown on this page; ETF traders use the fund for diversified exposure to its underlying basket, for sector and factor rotation, and for hedging or replication strategies via the listed options chain.
- What does the BNO options snapshot look like today?
- As of May 15, 2026, the BNO options snapshot shows spot at $57.67, ATM IV 85.1%, IV rank 55.1%, max pain $48.00, net GEX $20.6M, expected move 24.39%. The full options chain, Greeks by strike and expiration, per-strike open-interest distribution, dealer gamma and delta exposure, and the volatility skew surface are linked from this overview page. Each per-metric route refreshes once per trading session and reflects the most recent close-of-business listed-options state.
- What are BNO's key statistics?
- United States Brent Oil Fund LP (BNO) carries a market capitalization of $213.6M, 52-week range of 26.59-60.81. Full holdings disclosure, expense ratio, and tracking-error history live on the per-ticker fundamentals page or the sponsor's site; daily NAV and premium/discount-to-NAV are accessible from the same view. These structural inputs frame how the ETF options market prices implied volatility relative to its constituents.
- What sector or industry does BNO belong to?
- United States Brent Oil Fund LP operates in the Financial Services sector, in the Asset Management industry. Sector classification affects how the ticker correlates with sector ETFs, how it reacts to macro factors like rate moves and commodity prices, and how its options pricing compares to sector peers. Compare BNO's implied volatility and skew against sector benchmarks to gauge whether the options market is pricing single-name or systemic risk relative to the broader peer group.
- How current is the BNO data on this page?
- The options snapshot above is dated May 15, 2026 and refreshes once per session, with all per-strike Greeks and exposure aggregates recomputed at the daily close. Fund-level fields (sponsor, expense ratio, holdings concentration where available) refresh from the vendor feed nightly. ETF-specific filings (N-CSR, N-PX, N-CEN) update on the SEC EDGAR cadence. FINRA microstructure data refreshes on the source's cadence; for ETFs the off-exchange volume signal is dominated by authorized-participant creation and redemption rather than directional flow.