About USO options

The USO options chain lists every expiration and strike with bids, asks, volume, open interest, implied volatility and Greeks. Quotes are delayed up to 15 minutes.

How to read the USO options chain

Each row is a strike. Calls sit to the left of the strike and puts to the right, with the rows in the money shaded and a line marking where USO trades now. Bid is what buyers will pay and ask is what sellers want; a tight spread means the contract is liquid. IV is the implied volatility the price implies, and Δ is how much the option moves for a $1 move in the stock. Click a bid to model selling that contract, or an ask to model buying it, in the options calculator, with its payoff diagram, breakevens and Greeks.

USO options strategies to model

Start from a template built on the live USO chain. Each opens in Build with strikes chosen from the current chain so you can adjust and compare, and each guide explains how the trade works.

• USO covered call·how it works: the covered call guide
• USO cash-secured put·how it works: the cash-secured put guide
• USO bull call spread·how it works: the bull call spread guide
• USO iron condor·how it works: the iron condor guide
• USO straddle·how it works: the straddle guide

Options involve risk and are not suitable for all investors. Data is for educational use and delayed up to 15 minutes.