United States Oil

USO

10.25

-0.07

-0.7%

After Hours:

10.28

+0.03

+0.3%

Stock Price
Open: 10.29
Prev. Close: 10.32
Low/Hi: 10.21 - 10.31
52-Week: 9.23 - 12.45
Volumes
Equity: 26,748,582
90-Day Avg: 23,493,523
Option: 213,694
90-Day Avg: 116,957
Volatility
Today: 9.2
20-Day: 22.6
52-Week: 30.7
30-Day IV: 25.9 -0.8
IV Rank: 0.38 (Subdued)
Fundamental
Div. Yield: 0.0%
Net Expense Ratio: 0.45%
Stock Type: ETF | Family: United States Commodity Funds LLC | Category: Commodities Energy

USO Symbol Review Report

Report Date: 24-Apr-2017

Price Performance:

On the day, USO has moved -0.7%, while SPY has moved +1.1%.

Over the last two weeks, USO has moved -8.0%, and SPY has moved +0.8%.

Volume:

USO's stock volume on the day is 26,748,582, which is 1.1x relative to the 90-day average of 23,493,523

SPY's relative volume on the day is 1.5x, trading 116,570,150 shares against an average of 79,543,719 for the last 90 days.

Volatility:

The current 1-Day OHLC Volatility for USO is 9.2 for the day. The 20-day average is 19.8, and the 52-week average is 28.0.

The 1-Day OHLC Volatility for SPY is 18.2, while the average over the last 20 days is 7.8, and for the last 52 weeks is 8.0.

Implied Volatility:

The current 30-Day Implied Volatility (IV30) is 25.9, and has moved -3.1% from the previous day. Its IV Ranking is 0.38, which is considered Subdued.

As a comparison, the current IV30 for SPY is 8.1, down -29.4% from the previous day. SPY's IV Rank is Subdued at 0.35.

Over the last 52 weeks, the IV30 Range is 21.2 - 57.5.

Over the same span, SPY's IV30 Range is 8.1 - 20.7.

Based on the IV30, a synthetic put to protect downside risk would cost 2.9%, compared to a 52-week range of 2.4% - 6.5%.

At-the-Money Straddles:

ATM Straddle Expected Range
Expiration $ Premium % Premium Low High
28-Apr-17 0.26 2.5% 10.00 10.51
05-May-17 0.38 3.7% 9.88 10.63
12-May-17 0.49 4.7% 9.77 10.74
19-May-17 0.56 5.5% 9.69 10.82
26-May-17 0.73 7.1% 9.53 10.98
02-Jun-17 0.79 7.7% 9.47 11.04
16-Jun-17 0.91 8.9% 9.34 11.17
21-Jul-17 1.19 11.6% 9.06 11.45
18-Aug-17 1.37 13.4% 8.89 11.62
20-Oct-17 1.70 16.6% 8.55 11.96
19-Jan-18 2.11 20.6% 8.15 12.36
18-Jan-19 3.28 32.0% 6.98 13.53

Volatility Skew:

The current downside put implied volatility is trading 8.3% higher than the upside call volatility, which represents a slightly bullish tone when compared to the past year. Over the last year, the downside put has traded on average 10.0% higher than the upside call.

Option Volume:

On the day, USO traded 213,694 contracts, with 42.9% being put options. This represents a relative volume of 1.8x compared to the last 90 days, when the average volume was 116,957 and 53.3% puts.

Order Flow:

In the Money At the Money Out of the Money Total
Option Type Volume % Volume Total
Notional
Volume % Volume Total
Notional
Volume % Volume Total
Notional
Volume % Volume Total
Notional $
Call 995 2.1% 127,623 16,789 35.7% 600,903 11,405 24.2% 64,126 29,189 62.0% 792,652
Put 1,144 2.4% 62,447 10,732 22.8% 346,468 5,999 12.7% 50,331 17,875 38.0% 459,246
Total 47,064 1,251,898

Most Active Options:

Option Symbol Volume # Trades Last Price Low Price High Price Open Interest IV % IV Change
USO 19May17 C 10.5 23,171 230 0.18 0.17 0.23 19,818 24.6 -3.7%
USO 19Jan18 C 12 21,565 10 0.47 0.46 0.57 80,047 29.3 +2.9%
USO 19May17 C 11 21,383 151 0.06 0.05 0.09 34,700 24.1 -7.1%
USO 21Jul17 C 11 18,380 253 0.30 0.27 0.34 28,258 28.5 +0.6%
USO 19Jan18 P 9 15,055 11 0.52 0.51 0.60 63,325 31.7 -1.1%

Biggest Open Interest Increases:

Option Symbol Open Interest Previous
Open Interest
Change % Change Current Volume
USO 19May17 P 10 29,142 21,341 +7,801 +36.6% 4,491
USO 16Jun17 P 9.5 26,532 21,203 +5,329 +25.1% 367
USO 19Jan18 P 9 63,325 58,327 +4,998 +8.6% 15,055
USO 21Jul17 P 10 37,424 33,174 +4,250 +12.8% 367
USO 18Jan19 C 11 6,681 2,881 +3,800 +131.9% 0

Biggest Open Interest Decreases:

Option Symbol Open Interest Previous
Open Interest
Change % Change Current Volume
USO 21Apr17 P 10 0 114,900 -114,900 -100.0% 0
USO 21Apr17 C 12 0 75,614 -75,614 -100.0% 0
USO 21Apr17 P 9.5 0 71,947 -71,947 -100.0% 0
USO 21Apr17 P 11 0 66,658 -66,658 -100.0% 0
USO 21Apr17 C 11 0 58,978 -58,978 -100.0% 0

Upcoming Dividend:

The next dividend for USO has not yet been announced. Its indicative dividend yield going forward is 0.00%.