USO Options
United States Oil Fund Options Chain, Implied Volatility & Greeks
Comprehensive options market data for United States Oil Fund (USO). Explore implied volatility patterns, options chain liquidity, gamma exposure levels, and key market metrics.
USO Options at a Glance
What's Covered in This Guide
1 About United States Oil Fund (USO)
United States Oil Fund trades on NYSE. Options on USO are actively traded by retail and institutional investors.
Company Profile
Key Dates
USO is an actively traded options name in the Oil ETF space.
2 USO Options Market Overview
USO options offer good liquidity for traders seeking exposure to Oil ETF.
Liquidity Assessment: Good
USO options provide good liquidity for most trading strategies.
3 USO Volatility Profile
USO implied volatility reflects market expectations for United States Oil Fund price movement.
Earnings Impact
IV typically increases before earnings and contracts afterward (IV crush).
Historical Volatility vs IV
Compare IV to historical volatility to assess option pricing relative to realized moves.
Term Structure
Term structure varies with market conditions and upcoming events.
USO Gamma Exposure (GEX)
Gamma Exposure (GEX) analysis for USO shows how dealer hedging may impact price behavior.
Typical GEX Profile: GEX profile varies based on market conditions and option positioning.
Key Levels: Major put and call walls at round number strikes may act as support/resistance.
Dealer Hedging: Dealer hedging activity can influence price behavior at key gamma levels.
4 Common USO Options Strategies
These are strategies commonly used by traders on USO options, based on typical market characteristics. This is not investment advice.
Used by USO traders for income exposure. Good liquidity supports efficient execution.
Used by USO traders for directional exposure. Good liquidity supports efficient execution.
Used by USO traders for neutral exposure. Good liquidity supports efficient execution.
Used by USO traders for volatility exposure. Good liquidity supports efficient execution.
Used by USO traders for time-based exposure. Good liquidity supports efficient execution.
Key Considerations for USO Options
- USO options liquidity: Good - affects execution quality
- IV range: 15% - 40% - important for premium selling strategies
- Earnings events can significantly impact IV and option prices
- Consider position sizing based on underlying volatility
- Weekly options available for short-term strategies
- LEAPS available for longer-term positioning
Frequently Asked Questions: USO Options
What are USO options?
USO options are derivative contracts that give you the right to buy (call) or sell (put) United States Oil Fund shares at a specific price before expiration.
How do I analyze USO implied volatility?
USO IV typically ranges from 15% - 20% during quiet periods to 28% - 40% around earnings and major events. Compare current IV to historical ranges to assess relative value.
What is the typical bid-ask spread for USO options?
USO options have good liquidity with typical spreads varying by strike and expiration. ATM options generally have tighter spreads.
When does USO report earnings?
United States Oil Fund typically reports earnings quarterly. Check the earnings calendar for exact dates as IV tends to increase before announcements.
What strategies work best for USO options?
Popular USO strategies include covered calls, vertical spreads, and iron condors. Strategy selection depends on market outlook and risk tolerance.
What is the best time to trade USO options?
The most liquid trading hours for USO options are typically during regular market hours (9:30 AM - 4:00 PM ET), with highest volume around market open and close.
How do I calculate USO option Greeks?
Use our free Options Calculator or Greeks Heatmap tool to calculate delta, gamma, theta, vega and other Greeks for USO options across all strikes and expirations.
What happens to USO options at expiration?
In-the-money USO options are typically auto-exercised at expiration. Out-of-the-money options expire worthless. Consider closing positions before expiration to avoid assignment risk.
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USO Analytics
USO Key Events
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