USO Options History — July 2015

In July 2015, USO traded between $15.57 and $19.08. ATM implied volatility averaged 36.8%, placing in the 47.7% IV rank vs the trailing year. The 30-day expected move averaged 10.5%. IV traded above realized volatility by 3.5% (HV 20d: 33.2%). Max pain ranged from $18.00 to $20.00. Net GEX was positive for 0 of 22 trading days. Term structure was in contango for 11 of 22 days. Put/call ratio averaged 0.96.

Notable Days

  • 2015-07-06: Highest Volume — 346,777 contracts
  • 2015-07-06: Largest IV spike — 21.6% change
  • 2015-07-09: Highest IV Rank — 56.7%
  • 2015-07-27: Largest Expected Move — 11.6%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$17.02$15.57$19.08$19.08$15.57
Max Pain$19.11$18.00$20.00$20.00$18.00
ATM IV36.8%31.8%41.1%32.8%37.6%
Expected Move10.5%9.2%11.6%9.3%10.8%
HV 20d33.2%26.1%35.6%27.4%34.9%
HV 60d31.1%28.7%32.1%30.8%31.7%
IV Rank47.7%38.4%56.7%40.5%49.1%
IV Percentile60.9%48.4%67.9%52.0%61.1%
Term Structure-0.0%-1.9%1.0%0.0%0.3%
VWIV36.5%31.6%39.9%32.2%37.8%
Skew 25d4.5%1.4%6.4%4.5%3.8%
Skew 10d7.2%3.7%12.4%7.5%4.1%
Call IV 25d34.9%30.5%38.2%30.8%35.9%
Put IV 25d39.4%34.8%44.3%35.4%39.7%
Bid-Ask Spread %7.572.8815.549.756.80
Gamma HHI0.160.090.630.110.14
Net GEX-16.0M-63.0M-7.3M-13.6M-12.8M
Net DEX591.8M301.7M764.8M301.7M723.7M
Net VEX-5.7M-6.5M-5.0M-6.5M-5.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.960.451.591.000.99
Total Volume167,679.591100,451346,777163,369137,896
Total OI2,277,7591,902,1442,588,3622,304,1382,200,871

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2015-07-01$19.08$20.0032.8%9.3%27.4%40.5%32.2%4.5%0.0%-13.6M301.7M-6.5M1.009.7581,57981,7901,149,4161,154,722
2015-07-02$18.95$20.0031.8%9.2%26.1%38.4%31.6%4.3%0.5%-26.4M339.1M-6.5M1.407.4872,917102,3091,173,1721,177,377
2015-07-06$17.72$20.0038.6%11.0%34.3%52.3%37.4%4.7%-0.2%-15.7M613.8M-5.9M1.266.47153,373193,4041,162,9701,160,301
2015-07-07$17.82$19.5038.3%10.9%34.5%51.1%38.8%6.0%-0.4%-16.9M595.1M-6.2M0.9910.37153,084151,5441,223,4171,224,701
2015-07-08$17.39$19.5039.6%11.2%33.0%53.7%39.6%5.4%-0.4%-15.2M676.8M-6.0M0.8713.8990,92978,6991,263,6441,229,440
2015-07-09$17.72$19.5041.1%11.3%32.8%56.7%39.9%6.1%-1.2%-13.6M536.9M-6.3M0.636.8778,60749,8331,270,9571,225,021
2015-07-10$17.68$19.5039.4%11.2%32.9%53.0%38.4%6.1%0.0%-12.8M561.4M-6.2M0.865.5587,69275,6951,274,5321,235,262
2015-07-13$17.51$19.5037.4%10.5%32.9%48.7%36.2%6.4%-0.5%-13.9M590.4M-6.0M0.966.7092,45788,5501,263,3671,220,440
2015-07-14$17.70$19.5035.4%10.0%33.5%44.5%34.8%4.3%-0.5%-11.9M516.0M-5.9M0.872.88124,524108,9481,264,8301,220,837
2015-07-15$17.23$19.0035.9%10.3%34.0%45.5%35.2%4.2%-0.0%-16.9M677.2M-5.7M1.0411.0378,42281,2571,299,8451,250,407
2015-07-16$17.04$19.0034.6%9.9%33.9%42.8%35.1%5.1%0.4%-21.5M725.4M-5.6M1.405.8060,09283,9711,318,9301,258,303
2015-07-17$16.98$19.0033.8%9.6%33.3%41.2%33.3%3.7%-0.3%-63.0M764.8M-5.6M1.175.7287,186101,9311,319,9821,268,380
2015-07-20$16.70$19.0035.7%10.2%33.4%45.2%35.5%4.5%1.0%-8.7M535.6M-5.4M0.674.7260,32940,122969,572932,572
2015-07-21$16.93$19.0033.6%9.6%33.9%40.7%33.6%3.7%-0.2%-8.0M489.1M-5.5M0.665.2961,41140,659990,817947,718
2015-07-22$16.33$19.0036.2%10.4%34.0%46.1%36.6%4.2%0.5%-9.3M590.2M-5.3M1.5915.5461,23297,4221,011,588954,145
2015-07-23$16.17$19.0037.7%10.8%34.0%49.3%37.0%4.5%0.3%-11.8M633.4M-5.3M0.846.9579,65267,2171,029,914995,425
2015-07-24$16.02$18.5037.8%10.8%34.0%49.5%37.9%4.0%0.5%-23.9M667.0M-5.2M0.935.1178,73073,6001,043,6321,009,201
2015-07-27$15.64$18.5040.8%11.6%34.1%55.8%39.8%4.7%-1.9%-10.5M695.6M-5.0M0.945.2257,51653,8811,036,1201,006,677
2015-07-28$15.86$18.5038.3%11.0%35.0%50.5%38.5%4.0%0.9%-10.0M653.8M-5.1M0.896.1786,05676,9921,055,7381,022,205
2015-07-29$16.25$18.5036.8%10.9%35.6%47.5%37.4%1.4%-0.6%-7.3M542.8M-5.6M0.4512.02101,29745,9491,081,8821,053,430
2015-07-30$16.11$18.5036.4%10.4%33.7%46.5%36.0%3.1%0.4%-7.8M589.1M-5.3M0.646.2167,08543,1121,104,3191,054,619
2015-07-31$15.57$18.0037.6%10.8%34.9%49.1%37.8%3.8%0.3%-12.8M723.7M-5.0M0.996.8069,32568,5711,129,6111,071,260