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USO

United States Oil FundClose $133.02EOD only

Max Pain

$131.00

Next expiry Jun 10, 2026

Expected Move

±$6.05

4.5% from close

Price Gap

-2.02

Distance to max pain

IV Rank

Low premium

P/C OI

1.74

Slightly put-heavy

Consensus

7.0/10

Bearish tilt

Published snapshot: Jun 5, 2026 close

End-of-day snapshot

This page reflects USO options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

Jun 5, 2026 close

USO Flow Report

Analysis based on market close June 8, 2026

Directional Theta Gang Flow Earnings Consensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

Flow Verdict

Confidence:

5.5 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +0.5 VIX 19

Watch next session: USO 2026-07-17 $142.00 Call; USO 2026-06-12 $142.00 Put

Flow Summary

Net premium: -$48.3M bearish

P/C volume ratio: 0.96

P/C OI ratio: 1.74

USO options show mixed flow: positive GEX ($6.7M) and spot above max pain suggest pinning, but net negative premium (-$48M) and high put OI (1.74 ratio) indicate hedging. VIX elevated (18.9) with high vol regime. Unusual prints in 142C and 142P suggest rangebound expectation near $142. Bias mixed; watch for gamma flip or large directional moves.

Notable Prints

USO 2026-07-17 $142.00 Call

Vol: 3,302

OI: 249

Vol/OI: 13.3x

IV: 58.6%

Notional: ~$2.7M

Intent: Bullish

Dual read: Straddle part

Read-through: Call volume surge

USO 2026-06-12 $142.00 Put

Vol: 3,008

OI: 556

Vol/OI: 5.4x

IV: 85.2%

Notional: ~$3.0M

Intent: Bearish

Dual read: Hedging

Read-through: Put buying near expiry

USO 2026-06-26 $160.00 Call

Vol: 1,269

OI: 242

Vol/OI: 5.2x

IV: 64.1%

Notional: ~$168K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

USO 2026-10-16 $195.00 Call

Vol: 1,447

OI: 329

Vol/OI: 4.4x

IV: 61.2%

Notional: ~$713K

Intent: Bullish

Dual read: Leap

Read-through: Outlook optimistic

USO 2026-07-10 $150.00 Put

Vol: 505

OI: 115

Vol/OI: 4.4x

IV: 58.7%

Notional: ~$967K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Calls at $142 (13.3x OI), $160, $195, $185

Put additions: Puts at $142 (5.4x OI), $150, $155; net premium -$48M

GEX/DEX consistency: GEX +$6.7M pinning, DEX +33.9M bullish; OI ratio 1.74 bearish

OI clusters: Put OI 30.9K at 26% below spot; calls spread $142-$195

Hedging evidence: Mix OTM calls/puts implies collar hedging

Max pain context: Spot above MP; positive gamma may pin price

Signal vs Noise

~Signal: High vol/oi at 142C, 142P, 160C, 195C

~Noise: Mixed flow regime and high IV

~Signal: Positive GEX and DEX bullish

Key Conclusions

📈Call accumulation at $142 (13.3x OI) and $195

⚠️Put OI concentration 26% below spot signals downside hedging

🤝GEX/DEX bullish but flow mixed

How to Use These Reports

This flow reflects the market close on June 8, 2026.

What the reports do

Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.

How traders use them

Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.

What to remember

These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.

If the report conviction and the raw data disagree, slow down and resolve the mismatch before sizing risk.