USO Options History — August 2019

In August 2019, USO traded between $10.86 and $11.84. ATM implied volatility averaged 32.4%, placing in the 26.9% IV rank vs the trailing year. The 30-day expected move averaged 9.3%. IV traded below realized volatility by 3.0% (HV 20d: 35.4%). Max pain ranged from $12.00 to $12.00. Net GEX was positive for 1 of 22 trading days. Term structure was in contango for 12 of 22 days. Put/call ratio averaged 1.31.

Notable Days

  • 2019-08-07: Highest Volume — 269,974 contracts
  • 2019-08-23: Largest IV spike — 13.8% change
  • 2019-08-07: Highest IV Rank — 34.5%
  • 2019-08-07: Largest Expected Move — 10.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$11.40$10.86$11.84$11.31$11.44
Max Pain$12.00$12.00$12.00$12.00$12.00
ATM IV32.4%29.0%35.4%32.6%30.3%
Expected Move9.3%8.3%10.0%9.8%8.6%
HV 20d35.4%30.8%38.5%33.7%32.9%
HV 60d37.2%34.5%39.5%37.1%34.7%
IV Rank26.9%18.1%34.5%27.3%21.4%
IV Percentile62.8%46.0%73.0%67.9%51.2%
Term Structure0.1%-1.2%1.2%-0.1%0.1%
VWIV33.1%29.9%36.8%36.7%30.0%
Skew 25d5.0%3.2%5.9%4.9%5.4%
Skew 10d8.3%4.4%10.7%8.7%9.1%
Call IV 25d30.7%28.2%34.1%32.3%29.1%
Put IV 25d35.8%33.2%38.9%37.2%34.4%
Bid-Ask Spread %5.801.9933.6533.654.38
Gamma HHI0.170.120.250.180.15
Net GEX-8.0M-14.8M3.5M-10.3M-3.7M
Net DEX193.3M28.5M397.1M280.7M179.3M
Net VEX-3.1M-3.3M-2.8M-3.3M-2.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.310.413.403.400.71
Total Volume90,442.04523,165269,974193,90558,872
Total OI2,035,661.1821,937,7072,208,3632,004,3362,080,635

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2019-08-01$11.31$12.0032.6%9.8%33.7%27.3%36.7%4.9%-0.1%-10.3M280.7M-3.3M3.4033.6544,065149,840916,2691,088,067
2019-08-02$11.47$12.0033.1%9.6%33.7%28.6%34.2%4.7%-1.2%3.5M202.5M-3.2M2.956.4022,18665,498932,0511,061,935
2019-08-05$11.39$12.0033.9%9.6%33.8%30.7%36.8%5.9%0.4%-10.7M235.1M-3.2M1.106.7826,94329,683869,7101,083,552
2019-08-06$11.14$12.0034.4%9.8%34.2%31.9%33.7%5.5%0.5%-13.0M310.1M-3.1M0.832.9436,64930,263880,7311,093,266
2019-08-07$10.86$12.0035.4%10.0%30.8%34.5%36.6%4.8%0.2%-14.8M397.1M-3.1M1.308.18117,523152,451888,1941,107,649
2019-08-08$10.95$12.0033.8%9.7%31.2%30.6%34.6%5.4%-0.5%-12.1M349.1M-3.1M0.725.0347,38634,126947,3071,129,829
2019-08-09$11.28$12.0032.1%9.2%33.8%26.1%33.1%3.9%-0.6%-11.3M233.7M-3.2M0.462.3791,15842,345952,0441,155,309
2019-08-12$11.36$12.0032.5%9.2%33.8%27.1%32.2%4.4%-0.4%-10.5M206.4M-3.2M0.832.5835,87729,858942,3171,157,946
2019-08-13$11.84$12.0031.4%8.9%36.7%24.3%33.8%3.2%-0.0%-4.7M42.2M-3.2M1.6712.6846,50077,767942,9061,173,658
2019-08-14$11.47$12.0033.7%9.6%37.5%30.2%33.6%5.0%-0.3%-9.9M192.2M-3.2M2.625.7930,14678,941947,7291,192,593
2019-08-15$11.36$12.0034.0%9.8%37.0%31.0%34.6%5.8%0.1%-14.1M238.0M-3.2M0.763.3139,87830,291955,2881,223,586
2019-08-16$11.39$12.0032.3%9.2%36.9%26.5%32.7%5.6%0.3%-6.5M212.8M-3.2M2.131.9916,26234,613983,4661,224,897
2019-08-19$11.68$12.0030.9%8.9%38.0%22.9%31.1%4.9%0.6%-5.6M81.2M-3.0M0.772.4631,78524,384876,5321,061,175
2019-08-20$11.65$12.0031.0%8.9%37.8%23.3%31.3%4.7%-0.1%-6.0M88.2M-3.1M0.682.2413,8039,362897,1921,074,889
2019-08-21$11.57$12.0030.6%8.8%37.1%22.1%29.9%4.5%0.7%-7.0M112.5M-3.0M0.844.2047,52439,943904,6041,078,085
2019-08-22$11.51$12.0030.1%8.6%37.1%21.0%31.2%5.1%1.2%-8.2M138.9M-2.9M1.357.8522,57530,483902,3861,077,761
2019-08-23$11.22$12.0034.3%9.8%38.1%31.8%34.1%5.8%-0.1%-9.4M243.2M-2.9M1.753.5034,73460,931904,6121,079,909
2019-08-26$11.18$12.0034.5%9.9%37.6%32.3%34.2%5.8%0.0%-10.0M244.2M-2.8M1.443.5313,83619,922892,1461,058,100
2019-08-27$11.43$12.0032.1%9.1%37.8%26.2%30.9%5.5%-0.3%-6.8M158.2M-2.9M0.412.1642,99617,497902,9561,070,931
2019-08-28$11.64$12.0030.9%8.9%38.5%23.0%31.6%5.0%0.5%-3.4M77.7M-2.9M1.342.4667,62690,426920,5901,075,383
2019-08-29$11.77$12.0029.0%8.3%31.4%18.1%30.7%5.0%0.2%-2.4M28.5M-3.0M0.843.1528,72624,051953,4621,122,899
2019-08-30$11.44$12.0030.3%8.6%32.9%21.4%30.0%5.4%0.1%-3.7M179.3M-2.9M0.714.3834,44424,428954,2421,126,393