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USO

United States Oil FundClose $121.21EOD only

Max Pain

$132.00

Next expiry Jun 17, 2026

Expected Move

±$3.30

2.7% from close

Price Gap

+10.79

Distance to max pain

IV Rank

Low premium

P/C OI

1.68

Slightly put-heavy

Consensus

5.0/10

Consensus signal

Published snapshot: Jun 15, 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 15, 2026 close

USO Flow Report

Analysis based on market close June 16, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

7 / 10

base 5; +2 GEX/flow strongly aligned; -1 spot 10.5% from MP; +1 VIX 16

Watch next session: $100 gamma flip; spot vs $112-.0 strikes

Flow Summary

Net premium: -$112.4M bearish

P/C volume ratio: 1.79

P/C OI ratio: 1.65

Dominant bearish flow with heavy put volume (P/C 1.79), negative GEX (-$80.8M), and spot below MP. Unusual prints show aggressive put accumulation across expirations, signaling downside conviction.

Notable Prints

USO 2026-06-24 $125.00 Call

Vol: 8,146

OI: 513

Vol/OI: 15.9x

IV: 49.6%

Notional: ~$611K

Intent: Bullish speculation near expiry

Dual read: Short covering possible

Read-through: High vol/oi shows aggressive buying despite overall bearish flow.

USO 2026-06-17 $113.00 Put

Vol: 1,494

OI: 116

Vol/OI: 12.9x

IV: 47.1%

Notional: ~$90K

Intent: Bearish bet on drop to $113

Dual read: Hedge for long exposure

Read-through: Short-dated put with extreme volume signals bearish conviction.

USO 2026-07-24 $100.00 Put

Vol: 3,147

OI: 405

Vol/OI: 7.8x

IV: 50.0%

Notional: ~$519K

Intent: Downside protection or bearish view

Dual read: Part of spread

Read-through: Moderate-term put aligned with bearish regime.

USO 2026-06-18 $112.00 Put

Vol: 1,677

OI: 218

Vol/OI: 7.7x

IV: 50.6%

Notional: ~$132K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

USO 2026-07-02 $100.00 Call

Vol: 860

OI: 119

Vol/OI: 7.2x

IV: 54.0%

Notional: ~$1.3M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Minimal; $125 call block (15.9x OI) but small vs puts.

Put additions: Heavy across $80-$130; notable $113, $112, $100, $80 puts with high vol/OI.

GEX/DEX consistency: Bearish flow aligns with -$80.8M GEX and +41.2M DEX; negative gamma.

OI clusters: Put concentration near $100 and $80; largest cluster ~13.4% below spot.

Hedging evidence: Broad put buying across tenors, deep OTM $80 (IV 65.4%) suggests hedging/bearish positioning.

Max pain context: Spot below max pain; put-heavy OI and negative gamma likely pin near $100-$105.

Signal vs Noise

~High vol/OI on 6/24 $125 call and $113 put are signal (block trades).

~7/24 $100 and $80 puts signal sustained bearish sentiment.

~Low vol/OI trades (e.g., $85 put) may be noise; overall bearish flow is clear.

Key Conclusions

📉Institutions piling into puts across strikes; bearish flow dominates.

⚠️Negative gamma and high VIX risk sharp downside; $100 support in play.

🛡️Put buying likely hedging, but flow is strongly bearish and consistent.

How to Use These Reports

This flow reflects the market close on June 16, 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.