USO Options History — June 2022

In June 2022, USO traded between $79.31 and $91.79. ATM implied volatility averaged 42.8%, placing in the 30.1% IV rank vs the trailing year. The 30-day expected move averaged 12.2%. IV traded above realized volatility by 12.1% (HV 20d: 30.6%). Max pain ranged from $70.00 to $81.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 1.04.

Notable Days

2022-06-17: Highest Volume — 111,028 contracts
2022-06-17: Largest IV spike — 10.2% change
2022-06-17: Highest IV Rank — 35.8%
2022-06-17: Largest Expected Move — 13.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$86.04	$79.31	$91.79	$85.81	$80.28
Max Pain	$74.52	$70.00	$81.00	$81.00	$81.00
ATM IV	42.8%	39.4%	45.6%	43.5%	45.2%
Expected Move	12.2%	11.2%	13.0%	12.8%	12.6%
HV 20d	30.6%	21.2%	41.7%	41.7%	36.1%
HV 60d	44.4%	38.2%	55.5%	55.5%	38.3%
IV Rank	30.1%	23.5%	35.8%	31.7%	33.9%
IV Percentile	68.0%	61.1%	73.4%	70.6%	72.6%
Term Structure	0.1%	-1.0%	1.0%	0.0%	0.4%
VWIV	43.1%	39.2%	45.5%	44.9%	44.2%
Skew 25d	2.2%	-0.3%	4.2%	1.6%	4.2%
Skew 10d	4.2%	-0.8%	9.6%	2.8%	9.0%
Call IV 25d	42.7%	39.8%	44.5%	44.3%	44.1%
Put IV 25d	44.9%	40.6%	48.2%	45.9%	48.2%
Bid-Ask Spread %	14.34	3.49	32.79	5.18	4.74
Gamma HHI	0.11	0.05	0.23	0.11	0.05
Net GEX	28.9M	-8.5M	53.3M	35.4M	-8.5M
Net DEX	-1.18B	-1.97B	-301.7M	-1.38B	-301.7M
Net VEX	-4.0M	-4.7M	-3.3M	-3.7M	-4.6M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.04	0.41	2.25	1.15	1.61
Total Volume	78,027.905	43,572	111,028	58,936	84,352
Total OI	572,617.238	508,771	656,325	533,866	600,463

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2022-06-01	$85.81	$81.00	43.5%	12.8%	41.7%	31.7%	44.9%	1.6%	0.0%	35.4M	-1.38B	-3.7M	1.15	5.18	27,443	31,493	314,668	219,198
2022-06-02	$87.24	$70.00	43.1%	12.3%	38.8%	30.8%	43.6%	2.1%	0.0%	42.5M	-1.58B	-3.4M	1.00	32.79	24,663	24,786	323,205	225,238
2022-06-03	$89.51	$70.00	42.6%	12.3%	39.5%	29.9%	43.4%	0.7%	0.2%	52.0M	-1.81B	-3.6M	0.55	13.58	52,730	28,767	327,687	226,905
2022-06-06	$88.32	$70.00	44.3%	12.6%	39.6%	33.3%	44.7%	1.0%	-0.5%	46.8M	-1.64B	-3.6M	1.09	24.92	24,412	26,708	327,041	216,418
2022-06-07	$89.93	$70.00	42.3%	12.1%	28.1%	29.4%	42.3%	1.1%	-0.3%	46.6M	-1.81B	-3.3M	0.51	13.46	43,686	22,432	326,648	223,117
2022-06-08	$91.79	$70.00	39.5%	11.3%	26.1%	23.7%	40.0%	-0.3%	-0.2%	50.4M	-1.97B	-3.3M	0.41	29.27	76,742	31,834	329,529	226,386
2022-06-09	$90.91	$72.00	39.7%	11.4%	23.6%	24.2%	40.2%	0.1%	-0.1%	53.3M	-1.89B	-3.7M	0.63	9.59	49,602	31,384	352,145	234,003
2022-06-10	$90.00	$72.00	39.4%	11.2%	24.3%	23.5%	39.2%	2.0%	-1.0%	33.6M	-1.72B	-3.8M	0.82	9.47	60,759	49,663	353,331	244,802
2022-06-13	$89.76	$72.00	42.2%	12.1%	23.3%	29.1%	43.0%	1.5%	0.1%	46.4M	-1.60B	-4.0M	0.76	27.08	58,627	44,666	345,513	244,744
2022-06-14	$88.35	$72.00	42.6%	12.2%	24.0%	30.0%	43.5%	0.9%	0.8%	40.2M	-1.46B	-4.1M	0.94	30.06	39,423	37,254	357,794	258,050
2022-06-15	$87.10	$74.00	42.2%	12.1%	23.6%	29.1%	42.6%	2.9%	-0.5%	33.6M	-1.29B	-4.0M	1.67	28.91	26,229	43,839	358,594	266,291
2022-06-16	$87.81	$75.00	41.3%	11.8%	21.2%	27.4%	42.4%	2.1%	0.5%	32.6M	-1.39B	-4.1M	1.66	15.28	37,112	61,476	360,653	272,662
2022-06-17	$83.51	$75.00	45.6%	13.0%	28.3%	35.8%	45.3%	3.1%	0.6%	35.5M	-779.1M	-4.4M	1.34	4.47	47,410	63,618	364,789	291,536
2022-06-21	$84.11	$78.00	42.2%	12.0%	28.2%	29.1%	42.2%	3.3%	-0.2%	12.5M	-746.7M	-4.3M	0.83	15.94	34,419	28,586	264,699	244,072
2022-06-22	$81.10	$77.00	44.8%	12.8%	31.2%	34.3%	45.0%	3.1%	-0.5%	5.2M	-532.7M	-4.2M	0.73	3.97	47,829	34,936	270,140	252,093
2022-06-23	$79.31	$77.00	44.7%	12.7%	32.1%	34.1%	45.1%	3.9%	0.2%	4.0M	-421.5M	-4.2M	1.44	3.49	36,196	52,169	289,292	257,582
2022-06-24	$81.10	$77.00	43.0%	12.1%	33.2%	30.8%	42.8%	2.3%	0.9%	4.7M	-484.6M	-4.5M	0.89	14.63	34,741	31,025	295,467	282,081
2022-06-27	$82.99	$77.00	42.9%	12.2%	32.7%	30.5%	43.2%	4.0%	1.0%	10.6M	-627.3M	-4.6M	0.97	3.58	22,131	21,441	276,338	271,779
2022-06-28	$84.77	$77.00	42.7%	12.0%	33.5%	29.1%	42.1%	3.2%	0.4%	17.4M	-778.5M	-4.4M	0.59	5.85	43,263	25,392	281,613	274,524
2022-06-29	$83.10	$78.00	44.4%	12.7%	34.2%	32.3%	45.5%	3.5%	0.3%	12.2M	-629.9M	-4.7M	2.25	4.89	23,170	52,178	292,382	281,490
2022-06-30	$80.28	$81.00	45.2%	12.6%	36.1%	33.9%	44.2%	4.2%	0.4%	-8.5M	-301.7M	-4.6M	1.61	4.74	32,257	52,095	293,031	307,432