USO Options History — June 2018

In June 2018, USO traded between $13.08 and $15.05. ATM implied volatility averaged 25.7%, placing in the 63.0% IV rank vs the trailing year. The 30-day expected move averaged 7.3%. IV traded below realized volatility by 0.7% (HV 20d: 26.4%). Max pain ranged from $13.50 to $14.00. Net GEX was positive for 14 of 21 trading days. Term structure was in contango for 3 of 21 days. Put/call ratio averaged 0.77.

Notable Days

  • 2018-06-28: Highest Volume — 334,063 contracts
  • 2018-06-22: Largest IV drop — 11.1% change
  • 2018-06-05: Highest IV Rank — 74.6%
  • 2018-06-19: Largest Expected Move — 7.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$13.62$13.08$15.05$13.28$15.05
Max Pain$13.95$13.50$14.00$13.50$14.00
ATM IV25.7%23.8%27.7%27.0%25.2%
Expected Move7.3%6.8%7.7%7.4%7.2%
HV 20d26.4%23.3%32.5%25.3%29.4%
HV 60d24.4%23.2%26.6%24.7%26.6%
IV Rank63.0%50.6%74.6%69.9%60.3%
IV Percentile61.4%35.7%83.7%74.6%57.9%
Term Structure-0.4%-1.2%0.8%-0.8%-0.4%
VWIV25.8%24.1%27.4%26.3%25.3%
Skew 25d1.5%-0.4%2.6%2.3%0.5%
Skew 10d2.3%-0.9%5.7%2.2%0.1%
Call IV 25d25.3%23.0%27.2%27.2%25.3%
Put IV 25d26.8%25.1%29.5%29.5%25.9%
Bid-Ask Spread %4.782.1020.562.1111.67
Gamma HHI0.200.160.330.170.26
Net GEX7.5M-9.7M29.9M-5.0M28.4M
Net DEX-165.5M-901.0M161.4M68.6M-901.0M
Net VEX-4.3M-4.5M-4.1M-4.3M-4.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.770.391.630.520.64
Total Volume164,538.47676,093334,06396,976249,470
Total OI2,589,894.5712,430,4182,765,7832,490,4732,688,111

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2018-06-01$13.28$13.5027.0%7.4%25.3%69.9%26.3%2.3%-0.8%-5.0M68.6M-4.3M0.522.1163,60833,3681,324,9281,165,545
2018-06-04$13.14$14.0027.6%7.6%24.2%74.1%27.0%1.9%-0.4%-7.0M143.8M-4.1M0.544.15179,14196,5731,292,7311,148,115
2018-06-05$13.22$14.0027.7%7.7%24.4%74.6%27.0%1.4%-1.2%-5.4M70.9M-4.4M1.492.9272,149107,3951,412,1771,166,571
2018-06-06$13.16$14.0026.7%7.5%24.4%68.5%26.3%2.4%-0.9%-9.7M114.8M-4.5M0.742.8963,17646,6301,438,9521,255,129
2018-06-07$13.35$14.0026.4%7.5%23.8%66.2%26.4%1.2%-0.8%-5.5M-2.4M-4.5M0.572.5874,67042,5961,457,7671,261,304
2018-06-08$13.29$14.0025.5%7.3%23.5%61.0%25.6%1.1%-0.1%5.0M31.9M-4.4M0.522.8350,15325,9401,495,5721,270,211
2018-06-11$13.37$14.0025.0%7.1%23.6%59.0%24.8%0.5%-0.1%6.6M-39.7M-4.4M0.392.4372,27828,1841,458,8591,209,177
2018-06-12$13.39$14.0024.6%7.0%23.3%55.9%24.6%0.7%-0.2%8.5M-57.6M-4.3M0.453.0967,15530,1241,478,1141,214,108
2018-06-13$13.48$14.0024.3%6.9%23.5%54.3%24.1%0.8%-0.5%10.3M-110.4M-4.4M0.7920.5660,81648,1871,487,7711,214,446
2018-06-14$13.52$14.0024.3%6.9%23.4%54.0%24.8%1.3%-0.4%10.0M-149.8M-4.3M1.265.5571,43689,7111,478,3811,200,173
2018-06-15$13.08$14.0026.4%7.5%25.6%68.4%25.8%1.9%-0.3%-4.0M161.4M-4.2M1.637.04107,608175,5631,485,5371,267,906
2018-06-18$13.29$14.0025.7%7.3%26.6%63.7%25.5%2.0%-0.4%2.2M17.0M-4.3M0.492.2359,05528,7371,321,4791,108,939
2018-06-19$13.16$14.0027.0%7.7%25.6%72.6%27.1%2.6%-0.3%-392.0K91.9M-4.3M0.622.9159,18536,8431,335,7581,118,898
2018-06-20$13.28$14.0026.2%7.5%26.1%66.8%27.0%2.4%-0.3%2.2M14.3M-4.3M0.693.3372,89850,3921,351,1121,136,208
2018-06-21$13.32$14.0026.7%7.7%26.3%70.8%27.4%2.3%-1.2%5.4M-12.9M-4.3M1.0211.0477,08678,6961,392,2911,150,819
2018-06-22$14.02$13.5023.8%6.8%32.5%50.6%24.5%2.2%0.8%29.9M-476.3M-4.4M0.492.78158,06477,3411,414,2401,169,571
2018-06-25$13.77$14.0024.4%7.0%29.3%54.9%25.6%1.9%-0.3%15.4M-255.5M-4.3M0.712.7982,95859,2731,339,4641,129,234
2018-06-26$14.25$14.0024.1%7.0%31.2%52.6%24.6%1.9%0.2%20.7M-533.8M-4.3M0.502.96119,67659,5441,334,6861,142,045
2018-06-27$14.66$14.0025.7%7.5%31.7%63.8%26.4%-0.2%0.1%24.9M-791.6M-4.3M1.002.46122,994122,5721,353,7981,154,206
2018-06-28$14.85$14.0025.4%7.2%30.9%61.9%25.6%-0.4%-0.4%24.6M-858.3M-4.3M1.182.10153,558180,5051,345,7911,217,662
2018-06-29$15.05$14.0025.2%7.2%29.4%60.3%25.3%0.5%-0.4%28.4M-901.0M-4.4M0.6411.67151,83897,6321,350,3941,337,717