USO Options History — October 2024

In October 2024, USO traded between $69.66 and $79.27. ATM implied volatility averaged 43.4%, placing in the 74.7% IV rank vs the trailing year. The 30-day expected move averaged 12.3%. IV traded above realized volatility by 4.9% (HV 20d: 38.5%). Max pain ranged from $70.00 to $71.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 8 of 23 days. Put/call ratio averaged 0.34.

Notable Days

2024-10-08: Highest Volume — 192,918 contracts
2024-10-28: Largest IV drop — 30.2% change
2024-10-03: Highest IV Rank — 100.0%
2024-10-03: Largest Expected Move — 13.7%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$73.87	$69.66	$79.27	$71.95	$73.16
Max Pain	$70.09	$70.00	$71.00	$71.00	$70.00
ATM IV	43.4%	33.3%	52.6%	38.5%	39.8%
Expected Move	12.3%	10.6%	13.7%	11.5%	12.9%
HV 20d	38.5%	31.7%	43.1%	32.5%	40.7%
HV 60d	35.1%	31.6%	36.5%	31.6%	36.3%
IV Rank	74.7%	38.9%	100.0%	83.8%	59.5%
IV Percentile	93.9%	67.1%	100.0%	95.2%	92.5%
Term Structure	-0.8%	-9.8%	6.7%	0.1%	-1.0%
VWIV	46.3%	38.8%	52.3%	46.2%	50.1%
Skew 25d	-1.7%	-13.8%	17.6%	0.6%	-4.7%
Skew 10d	-8.7%	-24.3%	4.6%	-0.7%	-0.4%
Call IV 25d	45.2%	27.8%	60.4%	39.8%	40.0%
Put IV 25d	43.4%	32.7%	49.5%	40.4%	35.4%
Bid-Ask Spread %	20.46	8.76	42.87	38.25	17.31
Gamma HHI	0.12	0.06	0.31	0.15	0.10
Net GEX	58.5M	16.3M	108.0M	39.0M	55.1M
Net DEX	-739.0M	-1.86B	-92.7M	-491.9M	-535.1M
Net VEX	-2.9M	-3.5M	-2.2M	-2.7M	-2.6M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.34	0.07	0.75	0.12	0.29
Total Volume	72,220.304	18,199	192,918	124,811	43,357
Total OI	495,251.348	374,754	589,890	374,754	449,658

Daily Data (23 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
2024-10-01	$71.95	$71.00	38.5%	11.5%	32.5%	83.8%	46.2%	0.6%	0.1%	39.0M	-491.9M	-2.7M	0.12	38.25	111,152	13,659	263,453	111,301
2024-10-02	$72.63	$71.00	41.8%	13.0%	31.7%	99.9%	49.0%	-1.5%	0.5%	48.8M	-628.6M	-3.0M	0.24	26.40	69,407	16,635	314,606	116,259
2024-10-03	$75.75	$70.00	50.8%	13.7%	34.7%	100.0%	48.6%	-8.1%	-0.8%	50.0M	-1.04B	-3.2M	0.07	13.95	171,949	12,414	328,100	114,918
2024-10-04	$76.31	$70.00	44.2%	11.7%	33.8%	77.8%	43.0%	-7.8%	-0.5%	98.3M	-1.38B	-3.5M	0.24	17.68	115,892	28,131	442,726	122,784
2024-10-07	$79.27	$70.00	47.5%	12.4%	35.8%	89.0%	44.2%	-8.7%	-4.2%	108.0M	-1.86B	-3.3M	0.22	14.31	75,451	16,740	452,980	124,415
2024-10-08	$75.82	$70.00	51.7%	12.6%	37.3%	100.0%	47.4%	-10.2%	-9.8%	90.6M	-1.14B	-3.3M	0.11	42.87	173,958	18,960	458,679	130,770
2024-10-09	$75.30	$70.00	45.4%	12.4%	37.4%	79.7%	47.2%	-6.5%	-2.2%	71.6M	-999.4M	-3.3M	0.21	16.45	66,077	13,781	413,881	136,407
2024-10-10	$77.81	$70.00	49.6%	13.5%	37.7%	93.3%	51.1%	-9.6%	-3.3%	91.8M	-1.49B	-3.4M	0.16	14.20	103,681	16,776	419,156	131,462
2024-10-11	$77.41	$70.00	52.6%	13.6%	37.8%	100.0%	51.9%	-13.8%	-7.4%	99.6M	-1.39B	-3.4M	0.29	24.67	49,846	14,350	448,113	137,904
2024-10-14	$75.78	$70.00	47.5%	13.5%	38.7%	83.9%	52.3%	-6.5%	-0.6%	81.2M	-1.12B	-3.2M	0.14	17.19	47,626	6,788	424,619	132,442
2024-10-15	$72.81	$70.00	43.4%	12.4%	41.4%	70.9%	46.7%	-3.2%	2.9%	67.7M	-542.3M	-2.9M	0.36	22.16	41,658	14,989	433,553	136,345
2024-10-16	$72.42	$70.00	41.5%	11.9%	41.1%	65.0%	47.1%	-2.1%	2.7%	68.2M	-471.3M	-2.9M	0.65	21.04	35,529	23,057	443,053	138,047
2024-10-17	$72.63	$70.00	42.4%	11.9%	39.9%	67.7%	44.6%	-3.7%	3.0%	77.7M	-466.6M	-2.9M	0.34	27.72	13,713	4,644	446,697	135,424
2024-10-18	$71.34	$70.00	41.7%	11.8%	40.3%	65.4%	44.0%	-3.9%	-0.8%	21.2M	-240.4M	-2.7M	0.59	23.16	42,331	24,935	452,664	137,226
2024-10-21	$72.47	$70.00	42.7%	11.9%	40.6%	68.8%	45.4%	17.6%	-1.9%	34.1M	-435.9M	-2.8M	0.30	25.04	23,512	7,028	291,507	107,709
2024-10-22	$74.06	$70.00	43.4%	12.5%	40.9%	70.9%	50.2%	11.2%	3.4%	44.0M	-618.3M	-2.9M	0.46	17.87	17,796	8,187	301,964	112,372
2024-10-23	$73.44	$70.00	43.1%	12.3%	39.8%	70.0%	48.2%	16.6%	-5.4%	43.7M	-519.7M	-2.8M	0.53	30.71	14,486	7,723	305,155	114,987
2024-10-24	$72.95	$70.00	41.4%	11.9%	37.7%	64.5%	44.8%	4.0%	-1.3%	40.0M	-471.4M	-2.7M	0.35	13.57	13,434	4,765	307,650	111,873
2024-10-25	$74.27	$70.00	47.8%	12.6%	37.8%	85.0%	46.3%	-7.4%	-2.5%	46.6M	-643.3M	-2.8M	0.43	11.54	31,321	13,407	313,268	113,580
2024-10-28	$70.26	$70.00	33.4%	10.6%	43.1%	39.2%	38.8%	4.9%	5.0%	22.5M	-134.6M	-2.2M	0.45	10.52	46,665	20,994	303,615	109,570
2024-10-29	$69.66	$70.00	33.3%	10.6%	41.8%	38.9%	38.9%	2.6%	6.7%	16.3M	-92.7M	-2.3M	0.53	8.76	17,856	9,376	323,869	122,332
2024-10-30	$71.41	$70.00	35.0%	10.9%	42.7%	44.2%	39.0%	0.1%	-0.9%	29.1M	-284.4M	-2.4M	0.75	15.20	21,212	15,819	329,636	124,052
2024-10-31	$73.16	$70.00	39.8%	12.9%	40.7%	59.5%	50.1%	-4.7%	-1.0%	55.1M	-535.1M	-2.6M	0.29	17.31	33,717	9,640	326,281	123,377