USO Options History — April 2019

In April 2019, USO traded between $12.82 and $13.80. ATM implied volatility averaged 23.9%, placing in the 4.4% IV rank vs the trailing year. The 30-day expected move averaged 6.9%. IV traded above realized volatility by 4.5% (HV 20d: 19.4%). Max pain ranged from $12.00 to $13.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 1.27.

Notable Days

  • 2019-04-26: Highest Volume — 242,617 contracts
  • 2019-04-26: Largest IV spike — 18.2% change
  • 2019-04-26: Highest IV Rank — 15.2%
  • 2019-04-26: Largest Expected Move — 8.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$13.29$12.82$13.80$12.82$13.31
Max Pain$12.74$12.00$13.00$12.00$13.00
ATM IV23.9%22.1%27.9%23.6%25.1%
Expected Move6.9%6.3%8.0%6.9%7.2%
HV 20d19.4%18.1%23.4%18.2%22.0%
HV 60d23.1%21.2%26.0%26.0%21.7%
IV Rank4.4%0.0%15.2%3.5%7.9%
IV Percentile15.1%0.0%67.9%7.5%31.3%
Term Structure0.1%-0.8%0.8%0.7%0.2%
VWIV24.3%22.1%28.3%25.5%26.4%
Skew 25d3.5%0.9%5.3%3.9%4.8%
Skew 10d7.0%1.2%11.3%8.0%11.3%
Call IV 25d22.7%20.8%26.0%23.0%24.3%
Put IV 25d26.3%23.8%31.3%26.9%29.1%
Bid-Ask Spread %14.983.1930.7416.413.19
Gamma HHI0.190.130.300.180.14
Net GEX11.4M-5.6M19.3M15.6M3.8M
Net DEX-363.6M-559.0M5.9M-429.5M-110.9M
Net VEX-2.3M-3.0M-1.7M-1.7M-2.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.270.352.581.771.09
Total Volume93,804.28632,554242,61764,98932,554
Total OI1,689,9641,349,6441,944,9451,534,4451,642,677

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2019-04-01$12.82$12.0023.6%6.9%18.2%3.5%25.5%3.9%0.7%15.6M-429.5M-1.7M1.7716.4123,43541,554853,072681,373
2019-04-02$13.03$12.0024.4%7.1%18.6%5.6%25.2%3.2%0.2%16.4M-487.4M-1.7M0.7920.2856,36844,443847,428701,549
2019-04-03$12.98$12.0023.7%6.9%18.4%3.8%24.3%3.6%0.5%16.4M-472.0M-1.8M1.1930.7492,984110,699861,530717,301
2019-04-04$12.91$12.0022.9%6.7%18.8%1.7%23.5%3.9%0.0%13.4M-428.9M-2.0M1.5119.8236,32554,930888,033809,541
2019-04-05$13.16$12.5022.6%6.6%18.8%0.7%22.1%3.0%0.8%16.0M-507.2M-2.0M1.0211.9346,27147,203909,975835,094
2019-04-08$13.39$12.5022.6%6.5%19.1%0.9%23.1%4.1%0.1%18.6M-559.0M-2.0M0.713.9969,32949,402896,368810,876
2019-04-09$13.34$12.5022.8%6.5%19.4%1.3%23.3%3.5%0.1%17.9M-532.8M-2.0M0.939.6563,43158,711918,009830,664
2019-04-10$13.41$13.0023.3%6.7%18.1%2.7%24.4%3.6%-0.0%18.7M-541.5M-2.2M0.9818.6457,62056,675959,819868,439
2019-04-11$13.24$13.0024.6%7.1%19.1%6.0%24.5%3.9%0.3%15.0M-464.5M-2.4M1.8313.6218,48333,7531,006,396920,659
2019-04-12$13.30$13.0022.7%6.5%18.9%1.1%23.9%3.6%-0.0%16.6M-480.7M-2.4M0.8610.0136,37831,1461,007,067937,878
2019-04-15$13.23$13.0024.6%7.1%19.1%6.2%23.9%4.3%0.3%14.9M-425.7M-2.4M1.668.9617,43929,022999,010920,797
2019-04-16$13.36$13.0023.1%6.6%19.0%2.1%24.5%4.9%0.7%19.3M-462.0M-2.4M2.2624.2015,82035,7881,003,692939,925
2019-04-17$13.28$13.0022.5%6.4%18.7%0.6%23.1%3.6%0.7%15.5M-318.3M-2.4M1.3030.6317,52022,845927,234966,054
2019-04-18$13.32$13.0022.1%6.3%18.5%0.0%23.3%3.7%0.6%2.7M-318.0M-2.4M1.075.0935,01137,634926,026975,581
2019-04-22$13.68$13.0024.5%7.0%18.7%6.4%24.4%1.7%-0.6%5.7M-268.5M-2.4M0.967.5146,55844,626606,402743,242
2019-04-23$13.80$13.0024.4%6.8%18.7%6.0%24.1%1.5%-0.8%6.9M-292.4M-2.5M0.4830.3485,55341,302623,634763,639
2019-04-24$13.68$13.0023.8%6.6%18.7%4.5%23.5%0.9%-0.4%8.0M-265.8M-2.6M1.4811.3741,84662,005678,606785,896
2019-04-25$13.53$13.0023.6%6.6%18.9%4.0%23.5%2.3%-0.6%3.4M-197.4M-2.7M1.825.8622,30640,568678,037838,602
2019-04-26$13.07$13.0027.9%8.0%23.4%15.2%28.3%5.3%-0.6%-5.6M5.9M-3.0M2.5827.3667,746174,871685,688919,256
2019-04-29$13.23$13.0027.1%7.9%23.3%13.1%24.8%5.3%-0.0%410.0K-79.3M-2.9M0.354.9451,82817,908713,714890,461
2019-04-30$13.31$13.0025.1%7.2%22.0%7.9%26.4%4.8%0.2%3.8M-110.9M-2.9M1.093.1915,55816,996739,422903,255