USO Options History — June 2014

In June 2014, USO traded between $37.51 and $39.32. ATM implied volatility averaged 14.8%, placing in the 8.0% IV rank vs the trailing year. The 30-day expected move averaged 5.2%. IV traded above realized volatility by 4.0% (HV 20d: 10.8%). Max pain ranged from $35.00 to $37.00. Net GEX was positive for 16 of 21 trading days. Term structure was in contango for 12 of 21 days. Put/call ratio averaged 1.04.

Notable Days

  • 2014-06-12: Highest Volume — 140,393 contracts
  • 2014-06-12: Largest IV spike — 36.3% change
  • 2014-06-12: Highest IV Rank — 24.1%
  • 2014-06-16: Largest Expected Move — 5.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$38.61$37.51$39.32$37.53$38.88
Max Pain$36.75$35.00$37.00$37.00$37.00
ATM IV14.8%13.1%17.9%14.1%14.6%
Expected Move5.2%4.8%5.4%5.3%4.8%
HV 20d10.8%9.3%11.9%10.1%10.5%
HV 60d11.7%10.9%12.4%12.4%10.9%
IV Rank8.0%0.0%24.1%1.4%7.3%
IV Percentile10.1%0.0%40.5%1.6%7.9%
Term Structure0.1%-0.7%0.7%-0.3%0.7%
VWIV18.6%16.4%20.0%19.8%17.0%
Skew 25d-0.8%-2.4%0.9%0.6%-0.4%
Skew 10d-1.6%-5.2%2.8%1.0%-2.6%
Call IV 25d15.7%13.3%19.3%14.1%15.2%
Put IV 25d14.9%13.6%17.8%14.7%14.8%
Bid-Ask Spread %24.7016.9033.8718.8325.01
Gamma HHI0.100.070.120.100.07
Net GEX11.7M-9.5M36.5M-7.8M7.6M
Net DEX-319.7M-583.6M-52.6M-52.6M-277.6M
Net VEX-4.0M-4.2M-3.7M-4.2M-3.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.040.222.890.990.38
Total Volume37,432.2869,651140,3939,65135,445
Total OI932,055.238860,4241,070,534860,424900,960

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2014-06-02$37.53$37.0014.1%5.3%10.1%1.4%19.8%0.6%-0.3%-7.8M-52.6M-4.2M0.9918.834,8404,811304,482555,942
2014-06-03$37.64$37.0014.0%5.3%9.9%1.2%18.7%0.8%-0.3%-4.1M-94.6M-4.1M1.0316.908,7709,035305,863556,616
2014-06-04$37.51$37.0013.5%5.2%10.1%0.0%19.1%0.9%0.2%-7.4M-66.1M-4.1M1.5118.414,8067,267308,516558,334
2014-06-05$37.55$37.0013.5%5.2%9.4%0.0%17.6%0.4%0.1%-8.5M-64.0M-4.1M2.2823.2311,10225,279307,947560,563
2014-06-06$37.61$37.0013.3%5.2%9.3%0.0%18.7%0.5%-0.4%-9.5M-85.5M-4.1M2.8920.578,64824,967311,414576,042
2014-06-09$38.18$37.0013.5%5.2%10.3%1.0%19.0%0.6%-0.2%7.1M-249.1M-3.9M1.3831.896,4618,942307,796582,690
2014-06-10$38.28$37.0013.4%5.2%10.3%0.5%17.9%0.6%-0.2%7.8M-272.2M-3.8M0.8321.2314,81012,233308,215585,686
2014-06-11$38.25$37.0013.1%5.2%9.6%0.0%19.0%0.3%0.1%10.6M-273.2M-3.8M0.2721.9215,5044,152310,943594,259
2014-06-12$39.08$37.0017.9%5.3%11.9%24.1%18.7%-1.5%-0.7%14.8M-470.8M-3.7M0.5022.1593,84246,551313,257595,377
2014-06-13$39.12$36.0017.1%5.3%11.7%20.3%19.4%-2.1%-0.2%19.7M-508.2M-4.1M0.4728.5349,35923,313350,611614,819
2014-06-16$39.17$37.0017.0%5.4%11.7%19.6%18.8%-2.0%0.1%27.2M-534.3M-4.0M1.0128.4214,41114,561362,241620,578
2014-06-17$38.99$37.0014.9%5.4%11.9%8.9%18.4%-1.6%0.7%26.9M-487.6M-4.0M1.2729.6516,68621,140365,632629,480
2014-06-18$39.01$37.0014.9%5.2%11.9%8.8%20.0%-1.4%0.6%23.4M-469.4M-3.9M1.3833.8717,31123,936366,408643,976
2014-06-19$39.13$37.0015.5%5.3%11.3%12.0%18.8%-1.9%0.3%21.9M-494.8M-3.9M0.2626.2968,84518,000367,498649,754
2014-06-20$39.32$37.0015.9%5.4%11.4%13.9%18.9%-2.2%0.5%36.5M-583.6M-4.1M0.2230.6436,7838,270415,642654,892
2014-06-23$39.16$0.0015.0%5.0%11.5%9.5%19.5%-2.1%0.6%22.7M-392.5M-4.0M1.5223.088,15012,365364,583543,003
2014-06-24$39.09$35.0015.0%5.0%11.5%9.7%17.2%-2.4%0.6%16.5M-343.7M-4.0M1.1322.9619,69922,193362,206552,091
2014-06-25$39.29$35.0015.7%4.9%10.5%13.1%18.1%-0.6%0.1%20.8M-395.4M-4.0M0.7927.2313,01710,266376,605570,643
2014-06-26$38.97$37.0014.6%4.9%10.9%7.7%16.4%-1.4%-0.1%7.6M-301.8M-4.1M1.4023.727,95411,128381,322575,295
2014-06-27$38.98$37.0014.9%4.9%10.6%8.9%0.0%-1.4%-0.5%11.2M-297.8M-4.1M0.2824.2016,5844,642381,918579,061
2014-06-30$38.88$37.0014.6%4.8%10.5%7.3%17.0%-0.4%0.7%7.6M-277.6M-3.9M0.3825.0125,6779,768335,594565,366