USO Options History — June 2009

In June 2009, USO traded between $36.25 and $39.68. ATM implied volatility averaged 41.8%, placing in the 8.2% IV rank vs the trailing year. The 30-day expected move averaged 12.0%. IV traded above realized volatility by 7.3% (HV 20d: 34.4%). Max pain ranged from $30.00 to $35.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 20 of 22 days. Put/call ratio averaged 1.14.

Notable Days

  • 2009-06-10: Highest Volume — 115,114 contracts
  • 2009-06-25: Largest IV drop — 9.9% change
  • 2009-06-22: Highest IV Rank — 12.8%
  • 2009-06-22: Largest Expected Move — 12.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$37.98$36.25$39.68$37.43$37.93
Max Pain$32.64$30.00$35.00$32.00$35.00
ATM IV41.8%36.4%44.7%40.3%37.9%
Expected Move12.0%10.4%12.8%11.5%10.9%
HV 20d34.4%29.2%37.3%33.5%37.3%
HV 60d44.8%39.7%49.2%49.2%40.0%
IV Rank8.2%0.0%12.8%5.7%2.3%
IV Percentile12.5%0.0%25.8%5.6%1.6%
Term Structure1.3%-0.4%3.7%0.8%3.2%
VWIV42.7%37.7%46.4%41.4%39.1%
Skew 25d5.3%4.4%6.8%4.5%4.9%
Skew 10d10.7%7.7%19.7%19.7%9.8%
Call IV 25d39.9%35.4%42.9%38.1%37.1%
Put IV 25d45.2%40.3%48.0%42.7%41.9%
Bid-Ask Spread %6.964.9110.657.844.99
Gamma HHI0.120.090.430.100.11
Net GEX13.5M6.2M33.7M15.8M7.2M
Net DEX-932.1M-1.28B-532.7M-1.02B-638.5M
Net VEX-5.1M-5.4M-4.8M-4.8M-5.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.140.433.250.510.82
Total Volume58,377.95518,872115,11474,54545,996
Total OI1,043,010.773933,0261,143,295953,8091,050,422

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2009-06-01$37.43$32.0040.3%11.5%33.5%5.7%41.4%4.5%0.8%15.8M-1.02B-4.8M0.517.8449,25425,291570,353383,456
2009-06-02$37.61$32.0039.3%11.3%32.8%4.1%40.6%5.6%0.2%16.0M-1.02B-4.8M0.456.7032,05714,293570,304390,676
2009-06-03$36.25$32.0042.5%12.2%35.9%9.2%42.5%5.0%0.3%14.9M-854.3M-4.8M1.218.6929,80436,061575,831394,989
2009-06-04$37.69$32.0042.9%12.3%35.6%9.8%44.0%5.8%-0.4%16.0M-1.04B-4.9M0.6010.6538,12422,944582,368400,235
2009-06-05$37.40$30.0042.9%12.4%36.0%9.8%43.9%5.1%0.4%16.3M-1.01B-4.9M1.079.0723,36225,062592,213408,483
2009-06-08$37.54$30.0043.8%12.5%35.0%11.3%44.4%5.0%-0.1%16.4M-1.01B-4.9M0.436.9547,86220,810593,583415,154
2009-06-09$38.19$30.0043.0%12.3%34.8%10.0%42.7%5.0%1.6%16.7M-1.11B-5.0M0.947.7421,72120,513607,704426,166
2009-06-10$38.97$30.0041.7%12.4%35.1%8.0%44.1%6.2%1.7%16.6M-1.18B-5.1M0.715.9367,36047,754606,338436,085
2009-06-11$39.68$31.0043.1%12.4%34.2%10.2%44.9%6.8%0.7%15.9M-1.28B-5.3M1.248.3040,39949,974629,095462,408
2009-06-12$39.43$33.0043.7%12.5%34.7%11.1%44.3%6.6%1.1%13.7M-1.21B-5.4M1.406.9427,40538,251632,433488,686
2009-06-15$38.52$33.0043.1%12.4%33.0%10.2%43.6%5.3%1.0%10.9M-1.07B-5.3M1.286.9630,33038,967636,314502,305
2009-06-16$38.51$33.0044.3%12.7%30.6%12.2%44.7%5.2%0.9%12.6M-1.09B-5.3M0.966.9926,88625,899636,928494,555
2009-06-17$38.70$33.0043.9%12.6%30.6%11.5%45.1%5.1%1.1%12.5M-1.10B-5.3M1.037.6124,99425,760636,929499,899
2009-06-18$38.85$33.0043.5%12.5%29.2%10.8%44.3%4.7%1.4%14.1M-1.12B-5.2M0.845.7118,22015,324637,531499,960
2009-06-19$37.97$33.0042.1%12.1%30.2%8.7%42.6%4.8%1.8%33.7M-962.0M-5.1M0.996.2537,49636,986640,038503,257
2009-06-22$36.25$34.0044.7%12.8%35.5%12.8%46.4%4.8%1.2%8.2M-532.7M-5.0M1.135.5735,00039,611542,837390,189
2009-06-23$37.41$34.0043.6%12.5%36.7%11.0%43.9%5.4%1.4%9.6M-658.6M-5.1M3.257.4419,93264,735551,103412,260
2009-06-24$37.09$34.0041.9%12.0%36.9%8.2%42.1%5.6%1.0%6.2M-560.3M-5.3M2.375.699,64422,836557,086461,636
2009-06-25$38.05$34.0037.7%10.8%37.1%1.7%38.4%5.3%2.9%7.9M-681.4M-5.2M1.004.9120,53420,445559,786473,224
2009-06-26$37.51$35.0036.4%10.4%36.3%0.0%37.7%5.0%3.7%7.0M-597.2M-5.3M1.405.187,87410,998564,105481,227
2009-06-29$38.67$35.0036.9%10.6%36.6%0.7%37.9%4.4%3.3%9.4M-761.3M-5.1M1.376.9011,61415,933565,263482,823
2009-06-30$37.93$35.0037.9%10.9%37.3%2.3%39.1%4.9%3.2%7.2M-638.5M-5.2M0.824.9925,22420,772565,418485,004