USO Options History — October 2022

In October 2022, USO traded between $67.81 and $75.24. ATM implied volatility averaged 46.6%, placing in the 34.3% IV rank vs the trailing year. The 30-day expected move averaged 13.3%. IV traded above realized volatility by 6.3% (HV 20d: 40.3%). Max pain ranged from $71.00 to $71.00. Net GEX was positive for 20 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 0.60.

Notable Days

  • 2022-10-07: Highest Volume — 114,815 contracts
  • 2022-10-19: Largest IV drop — 4.1% change
  • 2022-10-04: Highest IV Rank — 45.9%
  • 2022-10-03: Largest Expected Move — 14.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$71.35$67.81$75.24$67.81$71.54
Max Pain$71.00$71.00$71.00$71.00$71.00
ATM IV46.6%43.2%52.1%51.6%44.4%
Expected Move13.3%12.5%14.8%14.8%12.5%
HV 20d40.3%32.4%45.7%43.8%32.4%
HV 60d39.2%37.4%41.8%41.1%37.6%
IV Rank34.3%26.6%45.9%45.0%28.6%
IV Percentile60.1%40.5%88.5%88.1%46.0%
Term Structure-0.0%-1.2%1.1%-0.2%1.0%
VWIV46.8%44.0%52.7%52.7%44.3%
Skew 25d1.9%0.3%3.3%1.5%0.3%
Skew 10d3.0%-0.9%7.0%3.2%0.5%
Call IV 25d46.5%42.4%53.0%51.8%45.3%
Put IV 25d48.4%44.6%53.5%53.3%45.6%
Bid-Ask Spread %20.9510.2250.0342.3413.74
Gamma HHI0.100.060.170.090.10
Net GEX13.1M-5.2M30.2M3.2M13.6M
Net DEX-456.9M-984.8M-90.0M-155.1M-507.2M
Net VEX-4.1M-4.6M-3.6M-4.2M-3.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.600.331.350.560.39
Total Volume59,235.85730,730114,81551,76737,581
Total OI669,428.905572,163734,017619,930603,840

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2022-10-03$67.81$71.0051.6%14.8%43.8%45.0%52.7%1.5%-0.2%3.2M-155.1M-4.2M0.5642.3433,21418,553328,132291,798
2022-10-04$70.18$71.0052.1%14.8%45.7%45.9%52.3%0.5%0.2%10.3M-378.2M-4.4M0.6450.0353,21134,194332,632298,095
2022-10-05$71.89$71.0050.8%13.8%42.4%43.2%49.0%2.0%0.4%21.3M-557.1M-4.6M0.6044.6341,06624,593352,892314,951
2022-10-06$72.90$71.0048.8%14.2%42.6%38.9%50.6%2.8%0.5%30.2M-674.6M-4.6M0.4920.8237,73418,432367,246320,481
2022-10-07$75.24$71.0048.8%13.8%41.7%39.0%49.3%1.0%0.2%24.5M-984.8M-4.6M0.3419.5285,81129,004381,031324,472
2022-10-10$73.93$71.0048.0%13.5%41.7%37.3%46.8%1.6%-0.8%26.0M-687.4M-4.4M0.6116.5325,74915,726376,537315,673
2022-10-11$71.81$71.0047.2%13.3%43.0%35.6%45.9%3.3%-1.1%16.2M-435.9M-4.3M0.4222.5240,06716,650384,244319,284
2022-10-12$70.90$71.0047.4%13.4%43.0%36.1%46.5%2.2%-0.5%9.6M-329.4M-4.2M0.5717.9645,59926,077387,685321,553
2022-10-13$72.46$71.0047.1%13.3%40.9%35.4%46.1%3.2%-1.2%18.0M-511.1M-4.3M0.3819.0847,79117,972394,779327,258
2022-10-14$70.22$71.0047.2%13.4%42.6%35.6%46.6%2.5%-0.8%4.9M-256.1M-4.2M0.5317.7341,82722,365405,505328,512
2022-10-17$70.12$71.0047.8%13.7%42.6%37.0%47.3%2.6%-0.8%2.9M-250.3M-4.1M0.5713.8039,51022,356384,861322,452
2022-10-18$68.64$71.0046.2%13.2%43.2%33.6%46.6%3.0%-0.6%-5.2M-90.0M-4.0M0.7113.0529,37520,877394,393327,144
2022-10-19$69.93$71.0044.3%12.7%43.6%29.6%45.5%2.6%-0.1%1.4M-267.8M-4.0M1.3510.2235,23347,643402,787323,428
2022-10-20$70.12$71.0044.4%12.7%43.6%29.7%44.7%1.5%0.2%4.9M-360.1M-3.7M0.6920.2926,64518,449422,369303,856
2022-10-21$70.44$71.0043.6%12.6%38.0%28.0%44.2%1.7%-0.7%10.3M-400.9M-3.7M0.8321.7521,42217,803424,346304,947
2022-10-24$70.33$71.0043.7%12.7%36.1%28.2%44.9%2.3%0.8%10.2M-412.0M-3.7M0.6515.7118,57112,159341,009231,154
2022-10-25$70.69$71.0043.2%12.6%35.8%27.3%44.3%2.6%0.8%11.8M-438.8M-3.6M0.5715.6828,72816,517347,356232,187
2022-10-26$72.97$71.0044.9%13.0%35.0%30.9%46.6%1.4%0.3%18.4M-619.3M-3.8M0.3313.7653,96617,908355,707234,529
2022-10-27$73.51$71.0044.3%12.8%34.9%28.4%45.2%0.8%0.3%22.2M-673.7M-3.7M0.6416.9034,96322,486372,429236,485
2022-10-28$72.79$71.0043.4%12.5%33.8%26.6%44.0%0.3%1.1%20.6M-604.3M-3.7M0.6913.8127,21418,912378,004241,964
2022-10-31$71.54$71.0044.4%12.5%32.4%28.6%44.3%0.3%1.0%13.6M-507.2M-3.6M0.3913.7426,96310,618367,133236,707