USO Options History — September 2015

In September 2015, USO traded between $14.38 and $15.37. ATM implied volatility averaged 47.2%, placing in the 67.2% IV rank vs the trailing year. The 30-day expected move averaged 13.6%. IV traded below realized volatility by 14.2% (HV 20d: 61.4%). Max pain ranged from $15.50 to $16.00. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 1.37.

Notable Days

  • 2015-09-01: Highest Volume — 335,018 contracts
  • 2015-09-03: Largest IV drop — 9.0% change
  • 2015-09-01: Highest IV Rank — 82.0%
  • 2015-09-01: Largest Expected Move — 16.4%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$14.80$14.38$15.37$14.78$14.65
Max Pain$15.88$15.50$16.00$15.50$15.50
ATM IV47.2%43.5%53.7%53.7%43.5%
Expected Move13.6%12.5%16.4%16.4%12.9%
HV 20d61.4%39.0%66.9%63.1%39.0%
HV 60d45.7%43.9%47.8%44.2%45.5%
IV Rank67.2%56.1%82.0%82.0%56.1%
IV Percentile71.6%59.1%92.5%92.5%59.1%
Term Structure-0.3%-3.0%3.4%-0.7%1.9%
VWIV48.3%44.3%57.7%57.7%45.2%
Skew 25d4.0%0.1%6.8%4.8%3.8%
Skew 10d6.8%3.4%10.2%4.2%7.3%
Call IV 25d45.9%42.0%52.4%52.4%42.0%
Put IV 25d49.9%45.3%57.3%57.3%45.8%
Bid-Ask Spread %8.184.6723.429.018.07
Gamma HHI0.100.070.140.070.14
Net GEX-7.1M-12.0M-334.4K-2.9M-11.1M
Net DEX391.6M154.4M559.7M312.3M476.4M
Net VEX-6.2M-6.9M-5.8M-6.7M-5.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.370.532.511.391.97
Total Volume174,559.47668,743335,018335,018167,661
Total OI3,131,669.0482,808,4843,353,8533,147,5483,044,679

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2015-09-01$14.78$15.5053.7%16.4%63.1%82.0%57.7%4.8%-0.7%-2.9M312.3M-6.7M1.399.01140,444194,5741,574,3581,573,190
2015-09-02$15.09$15.5053.1%15.1%63.4%80.8%53.3%6.8%-3.0%-2.4M247.4M-6.8M1.1015.74136,545149,8711,587,0411,616,065
2015-09-03$15.35$16.0048.3%13.5%63.5%70.2%48.1%2.9%-0.6%-334.4K154.4M-6.8M1.0911.02144,952157,3911,608,7631,638,145
2015-09-04$15.08$16.0047.3%13.4%63.4%67.8%47.6%5.4%-0.9%-3.7M249.0M-6.9M1.175.8485,645100,1251,656,7571,697,096
2015-09-08$15.02$16.0047.7%13.6%63.0%68.7%47.6%3.7%-0.3%-5.0M326.5M-6.7M1.128.2461,28068,4951,564,8711,654,325
2015-09-09$14.53$16.0047.4%13.4%63.3%68.1%47.1%5.0%-1.1%-10.7M520.6M-6.3M1.116.8167,22074,5921,565,5001,667,912
2015-09-10$14.94$16.0046.8%13.4%64.0%66.6%49.3%4.5%0.2%-6.9M362.4M-6.5M1.477.5167,22598,9781,583,2821,681,477
2015-09-11$14.64$16.0046.7%13.4%63.6%66.5%46.9%4.5%0.2%-8.9M467.5M-6.2M1.265.5662,91979,5581,586,5231,684,969
2015-09-14$14.38$16.0046.6%13.3%64.0%66.2%47.0%4.5%0.4%-11.2M559.7M-6.0M1.194.6754,81865,4781,524,6761,628,541
2015-09-15$14.57$16.0047.6%13.6%64.0%68.4%48.5%4.1%-1.2%-8.8M484.4M-6.0M1.465.8148,47570,9571,540,1801,634,205
2015-09-16$15.37$16.0047.2%13.5%66.5%67.5%49.2%3.1%-1.0%-2.0M202.8M-6.4M0.839.41129,762107,8951,557,4021,669,304
2015-09-17$15.24$16.0044.1%12.5%64.1%60.9%44.3%2.5%3.4%-1.6M249.7M-6.2M0.8323.4264,00053,4361,580,2291,683,964
2015-09-18$14.59$16.0043.7%12.5%66.5%59.8%44.3%2.4%0.2%-8.9M503.5M-5.9M0.856.4798,62683,4461,592,2041,690,209
2015-09-21$15.06$16.0045.1%13.2%66.9%63.1%46.4%2.8%-0.4%-5.0M295.0M-6.0M0.535.66104,41855,6791,408,5181,399,966
2015-09-22$14.75$16.0048.5%13.6%64.1%69.4%48.2%3.8%-1.8%-6.0M377.9M-5.9M2.065.3635,21972,4391,447,7571,417,373
2015-09-23$14.45$16.0048.9%14.4%64.8%70.4%50.1%0.1%-0.7%-9.8M475.9M-5.9M2.418.9868,714165,5231,475,5311,446,873
2015-09-24$14.60$16.0046.8%13.6%64.8%65.7%47.3%4.5%-0.8%-11.7M491.7M-6.0M1.747.0251,27589,4591,486,1191,544,330
2015-09-25$14.72$15.5045.7%13.4%57.6%63.2%49.6%4.5%-1.2%-9.6M434.3M-6.1M2.515.9649,224123,5061,502,1371,565,114
2015-09-28$14.38$16.0046.8%13.9%53.1%65.5%48.7%5.8%-0.2%-12.0M542.3M-5.8M1.905.5950,74796,4351,450,9191,508,099
2015-09-29$14.61$15.5046.6%13.9%46.9%65.2%47.6%5.0%1.0%-11.5M489.5M-6.0M0.765.5839,09529,6481,466,4511,559,996
2015-09-30$14.65$15.5043.5%12.9%39.0%56.1%45.2%3.8%1.9%-11.1M476.4M-5.8M1.978.0756,379111,2821,479,1941,565,485