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USO

United States Oil FundClose $131.30EOD only

Max Pain

$133.00

Next expiry Jun 10, 2026

Expected Move

±$3.22

2.5% from close

Price Gap

+1.70

Distance to max pain

IV Rank

Low premium

P/C OI

1.71

Slightly put-heavy

Consensus

5.0/10

Consensus signal

Published snapshot: Jun 9, 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 9, 2026 close

USO Flow Report

Analysis based on market close June 9, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +0.5 spot 1.3% from MP; +0.5 VIX 20

Watch next session: USO 2026-06-10 $132.00 Call; USO 2026-06-10 $135.00 Call; USO 2026-06-10 $134.00 Call; USO 2026-06-10 $136.00 Call

Flow Summary

Net premium: -$49.1M bearish

P/C volume ratio: 0.80

P/C OI ratio: 1.71

Aggressive near-term call buying dominates unusual prints, suggesting bullish bets into OPEX despite high put OI and negative net premium. Negative GEX could amplify upside if spot rallies. High confidence derived from strong flow alignment with GEX and spot near MP.

Notable Prints

USO 2026-06-10 $132.00 Call

Vol: 3,277

OI: 196

Vol/OI: 16.7x

IV: 45.8%

Notional: ~$475K

Intent: Bullish

Read-through: Up

USO 2026-06-10 $135.00 Call

Vol: 7,772

OI: 788

Vol/OI: 9.9x

IV: 48.4%

Notional: ~$350K

Intent: Bullish

Read-through: Up

USO 2026-06-10 $134.00 Call

Vol: 1,424

OI: 185

Vol/OI: 7.7x

IV: 46.8%

Notional: ~$97K

Intent: Bullish

Read-through: Up

USO 2026-06-10 $136.00 Call

Vol: 1,611

OI: 254

Vol/OI: 6.3x

IV: 52.6%

Notional: ~$68K

Intent: Bullish

Read-through: Up

USO 2026-06-18 $133.00 Call

Vol: 677

OI: 111

Vol/OI: 6.1x

IV: 53.9%

Notional: ~$280K

Intent: Bullish

Read-through: Up

Institutional Positioning

Call additions: Aggressive call buying on Jun10 $132-$136C and Jun18 $133C

Put additions: Puts added at $98, $111, $113, $120 for Jun18-Jul24 expirations

GEX/DEX consistency: GEX -$12.6M short gamma vs DEX +34.9M shares long delta; DEX dominates

OI clusters: Large put OI cluster at $100 (23.8% below spot); call OI sparse above $130

Hedging evidence: Long-dated puts at $98-$120 indicate tail hedging; short-dated calls speculative

Max pain context: Spot below max pain; pinning expected near $130-$135

Signal vs Noise

~High volume/ OI ratios on short-dated OTM calls are real signal

~Put OI concentration below spot signals downside hedging

~Low OI prints likely noise

Key Conclusions

📈Heavy short-dated call buying suggests bullish conviction near expiry

🛡️Long-dated put accumulation reflects downside tail risk hedging

How to Use These Reports

This flow reflects the market close on June 9, 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.