USO Options History — June 2021

In June 2021, USO traded between $46.38 and $50.25. ATM implied volatility averaged 29.3%, placing in the 5.7% IV rank vs the trailing year. The 30-day expected move averaged 8.3%. IV traded above realized volatility by 8.5% (HV 20d: 20.8%). Max pain ranged from $42.00 to $45.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 11 of 22 days. Put/call ratio averaged 0.75.

Notable Days

  • 2021-06-10: Highest Volume — 66,011 contracts
  • 2021-06-17: Largest IV spike — 8.1% change
  • 2021-06-17: Highest IV Rank — 11.6%
  • 2021-06-17: Largest Expected Move — 9.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$48.48$46.38$50.25$46.38$49.85
Max Pain$44.18$42.00$45.00$44.00$45.00
ATM IV29.3%27.6%31.3%30.6%28.7%
Expected Move8.3%7.8%9.0%8.4%8.3%
HV 20d20.8%13.3%27.5%27.5%13.3%
HV 60d31.0%21.5%38.3%38.3%21.5%
IV Rank5.7%0.6%11.6%9.5%3.9%
IV Percentile7.6%0.8%20.2%11.1%6.0%
Term Structure0.0%-0.6%0.6%-0.4%0.6%
VWIV30.5%27.6%34.8%30.5%30.1%
Skew 25d4.1%3.1%5.1%4.6%5.0%
Skew 10d7.6%4.8%11.6%7.9%8.5%
Call IV 25d28.2%26.4%30.1%29.1%27.7%
Put IV 25d32.4%30.3%35.2%33.8%32.7%
Bid-Ask Spread %23.1114.5737.6121.6837.61
Gamma HHI0.140.090.200.120.15
Net GEX21.3M7.6M29.7M22.4M17.3M
Net DEX-973.2M-1.21B-799.3M-889.2M-825.9M
Net VEX-2.2M-2.5M-2.0M-2.2M-2.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.750.271.780.730.39
Total Volume33,74614,98066,01139,76614,980
Total OI656,533.409555,952738,596618,584611,458

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2021-06-01$46.38$44.0030.6%8.4%27.5%9.5%30.5%4.6%-0.4%22.4M-889.2M-2.2M0.7321.6823,05116,715429,918188,666
2021-06-02$46.85$44.0030.1%8.0%26.9%8.2%29.9%4.0%-0.3%22.8M-932.6M-2.2M0.7422.3416,14211,892431,981198,007
2021-06-03$46.97$42.0030.5%8.6%26.8%9.3%34.8%4.5%-0.4%22.9M-940.8M-2.2M1.0522.8715,28115,994436,864204,900
2021-06-04$47.26$42.0029.1%8.4%26.7%5.2%30.6%3.1%-0.3%25.1M-979.6M-2.2M0.7320.0223,60417,274437,579213,091
2021-06-07$47.23$42.0029.1%8.3%26.7%5.2%30.4%3.5%0.1%22.8M-944.7M-2.0M0.4123.2314,8856,112431,710209,452
2021-06-08$47.89$42.0028.4%8.2%26.9%3.1%28.7%3.6%0.6%28.5M-1.03B-2.1M0.2723.1327,3747,385435,522211,909
2021-06-09$47.60$43.0028.9%8.2%27.1%4.6%28.5%3.5%-0.5%26.3M-988.3M-2.0M0.3621.1921,1297,548438,688214,464
2021-06-10$47.82$43.0028.5%8.3%27.1%3.4%33.2%4.2%0.5%25.8M-1.00B-2.0M1.5421.4826,02939,982438,972216,719
2021-06-11$48.02$45.0028.6%8.2%24.0%3.8%29.1%3.4%0.1%18.9M-1.01B-2.1M0.5516.8939,77221,887442,628250,086
2021-06-14$48.28$45.0029.1%8.4%23.1%5.3%29.2%3.1%-0.3%24.5M-1.03B-2.1M0.4114.5724,2269,990439,672243,694
2021-06-15$48.98$45.0028.7%8.2%23.2%4.0%28.7%3.2%-0.1%29.7M-1.11B-2.1M0.4418.9729,46112,831447,198248,691
2021-06-16$48.85$45.0028.9%8.3%22.8%4.7%30.4%3.4%0.2%29.1M-1.09B-2.2M0.8421.8215,75313,235453,279255,948
2021-06-17$48.16$45.0031.3%9.0%19.2%11.6%34.3%5.1%-0.1%21.6M-984.5M-2.2M1.7822.6421,36738,073457,427264,295
2021-06-18$48.40$45.0030.6%8.8%17.1%9.4%31.6%5.0%-0.6%7.6M-1.02B-2.1M0.6728.7321,20014,210453,696274,991
2021-06-21$49.35$45.0030.4%8.8%16.3%9.1%33.1%5.0%-0.6%18.2M-855.8M-2.1M0.8317.9518,93815,657361,139194,813
2021-06-22$49.42$45.0030.7%8.7%13.6%9.8%31.5%4.2%-0.1%14.6M-810.2M-2.5M0.4424.3511,1334,844366,857233,507
2021-06-23$49.76$45.0029.3%8.3%13.4%5.8%30.9%4.4%0.4%17.5M-1.21B-2.5M1.0521.2214,13714,826443,521292,281
2021-06-24$49.86$45.0028.0%8.0%13.5%2.0%28.8%5.0%0.5%18.5M-852.8M-2.4M0.5125.7014,8447,592371,743239,415
2021-06-25$50.25$45.0027.6%7.8%13.4%0.6%27.6%3.9%0.2%20.1M-905.1M-2.4M0.6826.6520,07713,573377,292244,340
2021-06-28$49.55$45.0028.3%8.2%14.7%2.9%29.1%4.5%0.5%15.8M-799.3M-2.3M0.8325.7310,3218,569373,943224,783
2021-06-29$49.92$45.0028.4%8.1%13.4%3.1%30.0%5.0%0.4%17.7M-1.20B-2.4M1.2629.579,09011,429451,754286,842
2021-06-30$49.85$45.0028.7%8.3%13.3%3.9%30.1%5.0%0.6%17.3M-825.9M-2.3M0.3937.6110,7454,235378,372233,086