United States Oil

USO

8.86

+0.08

+0.9%

After Hours:

8.86

0.00

0.0%

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Stock Price
Open: 8.80
Prev. Close: 8.78
Low/Hi: 8.75 - 8.89
52-Week: 8.65 - 12.00
Volumes
Equity: 30,683,228
90-Day Avg: 27,998,452
Option: 107,960
90-Day Avg: 159,096
Volatility
Today: 13.0
20-Day: 33.7
52-Week: 30.2
30-Day IV: 29.6 -0.4
IV Rank: 0.62 (Moderate)
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: 23-Jun-2017

Price Performance:

On the day, USO has moved +0.9%, while SPY has moved +0.1%.

Over the last two weeks, USO has moved -6.6%, and SPY has moved -0.1%.

Volume:

USO's stock volume on the day is 30,683,228, which is 1.1x relative to the 90-day average of 27,998,452

SPY's relative volume on the day is 0.9x, trading 65,574,788 shares against an average of 76,113,892 for the last 90 days.

Volatility:

The current 1-Day OHLC Volatility for USO is 13.0 for the day. The 20-day average is 30.0, and the 52-week average is 27.2.

The 1-Day OHLC Volatility for SPY is 3.7, while the average over the last 20 days is 5.9, and for the last 52 weeks is 7.5.

Implied Volatility:

The current 30-Day Implied Volatility (IV30) is 29.6, and has moved -1.2% from the previous day. Its IV Ranking is 0.62, which is considered Moderate.

As a comparison, the current IV30 for SPY is 7.8, down -6.0% from the previous day. SPY's IV Rank is Moderate at 0.42.

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

Over the same span, SPY's IV30 Range is 6.9 - 20.7.

Based on the IV30, a synthetic put to protect downside risk would cost 3.3%, compared to a 52-week range of 2.4% - 6.5%.

At-the-Money Straddles:

ATM Straddle Expected Range
Expiration $ Premium % Premium Low High
23-Jun-17 0.02 0.2% 8.84 8.87
30-Jun-17 0.29 3.2% 8.57 9.14
07-Jul-17 0.38 4.3% 8.47 9.24
14-Jul-17 0.51 5.7% 8.35 9.36
21-Jul-17 0.57 6.4% 8.29 9.42
28-Jul-17 0.67 7.6% 8.18 9.53
04-Aug-17 0.74 8.4% 8.11 9.60
18-Aug-17 0.84 9.5% 8.02 9.69
15-Sep-17 1.05 11.9% 7.80 9.91
20-Oct-17 1.25 14.1% 7.61 10.10
19-Jan-18 1.64 18.5% 7.22 10.49
20-Apr-18 2.02 22.8% 6.83 10.88
18-Jan-19 2.81 31.7% 6.05 11.66

Volatility Skew:

The current downside put implied volatility is trading 5.8% 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 9.2% higher than the upside call.

Option Volume:

On the day, USO traded 107,960 contracts, with 45.0% being put options. This represents a relative volume of 0.7x compared to the last 90 days, when the average volume was 159,096 and 56.5% 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 2,847 2.6% 189,448 49,323 45.7% 1,138,291 7,227 6.7% 45,503 59,397 55.0% 1,373,242
Put 13,078 12.1% 579,259 21,789 20.2% 847,223 13,736 12.7% 53,414 48,603 45.0% 1,479,896
Total 108,000 2,853,138

Most Active Options:

Option Symbol Volume # Trades Last Price Low Price High Price Open Interest IV % IV Change
USO 18Aug17 C 9 11,351 100 0.37 0.31 0.38 8,164 30.2 +0.6%
USO 7Jul17 C 9 11,088 163 0.13 0.11 0.16 8,308 27.7 -7.5%
USO 30Jun17 C 9 9,715 142 0.09 0.05 0.10 13,463 28.6 -1.6%
USO 23Jun17 P 9 9,007 175 0.15 0.12 0.24 13,416 0.0 -99.9%
USO 7Jul17 P 7.5 7,540 36 0.01 0.01 0.01 0 26.9 +21.0%

Biggest Open Interest Increases:

Option Symbol Open Interest Previous
Open Interest
Change % Change Current Volume
USO 21Jul17 C 9 63,108 53,668 +9,440 +17.6% 6,886
USO 20Oct17 P 9 82,577 77,573 +5,004 +6.5% 27
USO 18Aug17 C 9.5 23,003 18,277 +4,726 +25.9% 1,731
USO 18Aug17 C 10 38,646 33,928 +4,718 +13.9% 241
USO 20Oct17 P 8 10,287 6,783 +3,504 +51.7% 1,503

Biggest Open Interest Decreases:

Option Symbol Open Interest Previous
Open Interest
Change % Change Current Volume
USO 19Jan18 C 13 54,078 55,956 -1,878 -3.4% 253
USO 21Jul17 C 10.5 63,334 64,223 -889 -1.4% 129
USO 19Jan18 C 10 135,026 135,905 -879 -0.7% 643
USO 20Oct17 P 10 12,547 13,064 -517 -4.0% 1
USO 30Jun17 P 9 24,010 24,501 -491 -2.0% 2,263

Upcoming Dividend:

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