United States Oil

USO

9.71

-0.26

-2.6%

After Hours:

9.73

+0.02

+0.2%

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Stock Price
Open: 9.87
Prev. Close: 9.97
Low/Hi: 9.64 - 9.91
52-Week: 8.65 - 12.00
Volumes
Equity: 30,108,025
90-Day Avg: 30,541,051
Option: 101,737
90-Day Avg: 169,058
Volatility
Todays Stock Vol: 30.4
20-Day (HV): 27.6
52-Week (HV): 28.2
30-Day IV: 26.1 +0.4
IV Pct Rank: 15% Subdued
Fundamental
Div. Yield: 0.0%
Net Expense Ratio: 0.45%
Stock Type: ETF
Family: United States Commodity Funds LLC
Category: Commodities Energy
Stock Type: ETF | Family: United States Commodity Funds LLC | Category: Commodities Energy

USO Symbol Review Report

Report Date: 21-Aug-2017

Price Performance:

On the day, USO has moved -2.6%, while SPY has moved +0.1%.

Over the last two weeks, USO has moved -3.9%, and SPY has moved -2.0%.

Volume:

USO's stock volume on the day is 30,108,025, which is 1.0x relative to the 90-day average of 30,541,051

SPY's relative volume on the day is 0.9x, trading 61,610,323 shares against an average of 68,173,699 for the last 90 days.

Volatility:

The current 1-Day OHLC Volatility for USO is 30.4 for the day. The 20-day average is 24.8, and the 52-week average is 25.5.

The 1-Day OHLC Volatility for SPY is 6.0, while the average over the last 20 days is 6.6, and for the last 52 weeks is 7.2.

Implied Volatility:

The current 30-Day Implied Volatility (IV30) is 26.1, and has moved +1.7% from the previous day. Its IV Ranking is 0.15, which is considered Subdued.

As a comparison, the current IV30 for SPY is 10.4, down -11.9% from the previous day. SPY's IV Rank is Moderate at 0.66.

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

Over the same span, SPY's IV30 Range is 6.8 - 19.6.

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
25-Aug-17 0.25 2.6% 9.47 9.96
01-Sep-17 0.37 3.8% 9.35 10.08
08-Sep-17 0.45 4.6% 9.27 10.16
15-Sep-17 0.54 5.6% 9.17 10.26
22-Sep-17 0.61 6.2% 9.11 10.32
29-Sep-17 0.69 7.1% 9.02 10.41
20-Oct-17 0.88 9.0% 8.84 10.59
17-Nov-17 1.10 11.3% 8.62 10.81
15-Dec-17 1.32 13.6% 8.40 11.03
19-Jan-18 1.51 15.5% 8.21 11.22
20-Apr-18 1.94 19.9% 7.78 11.65
18-Jan-19 2.83 29.1% 6.89 12.54

Volatility Skew:

The current downside put implied volatility is trading 7.0% higher than the upside call volatility, which represents a neutral tone when compared to the past year. Over the last year, the downside put has traded on average 7.9% higher than the upside call.

Option Volume:

On the day, USO traded 101,737 contracts, with 40.4% being put options. This represents a relative volume of 0.6x compared to the last 90 days, when the average volume was 169,058 and 57.5% 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 4,136 4.1% 208,398 18,993 18.7% 535,346 37,493 36.9% 193,233 60,622 59.6% 936,977
Put 3,026 3.0% 177,998 30,834 30.3% 934,378 7,257 7.1% 86,352 41,117 40.4% 1,198,728
Total 101,739 2,135,705

Most Active Options:

Option Symbol Volume # Trades Last Price Low Price High Price Open Interest IV % IV Change
USO 25Aug17 C 10 20,293 314 0.04 0.22 0.02 26,650 25.7 +11.1%
USO 15Sep17 P 9.5 14,893 105 0.18 0.20 0.11 151,319 26.7 -2.1%
USO 15Sep17 C 10 7,268 176 0.16 0.24 0.14 81,169 25.7 +6.8%
USO 15Sep17 P 10 4,967 154 0.43 0.47 0.30 18,186 26.3 -0.7%
USO 20Oct17 P 10 3,835 78 0.60 0.63 0.49 26,219 27.5 -0.6%

Biggest Open Interest Increases:

Option Symbol Open Interest Previous
Open Interest
Change % Change Current Volume
USO 25Aug17 C 10 26,650 15,652 +10,998 +70.3% 20,293
USO 20Oct17 C 10.5 41,699 34,109 +7,590 +22.3% 829
USO 15Sep17 C 10.5 38,665 34,804 +3,861 +11.1% 3,137
USO 15Sep17 C 10 81,169 77,788 +3,381 +4.4% 7,268
USO 15Sep17 C 9.5 30,177 27,543 +2,634 +9.6% 1,003

Biggest Open Interest Decreases:

Option Symbol Open Interest Previous
Open Interest
Change % Change Current Volume
USO 18Aug17 P 8.5 0 361,415 -361,415 -100.0% 0
USO 18Aug17 P 9 0 125,546 -125,546 -100.0% 0
USO 18Aug17 P 9.5 0 100,003 -100,003 -100.0% 0
USO 18Aug17 C 10 0 93,432 -93,432 -100.0% 0
USO 18Aug17 P 8 0 76,928 -76,928 -100.0% 0

Upcoming Dividend:

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