United States Oil Fund, LP (USO) Most Active Options
The 25 most actively traded United States Oil Fund, LP (USO) option contracts at the latest daily snapshot, ranked by volume. Each row shows the contract's price, implied volatility, delta, open interest, and how today's volume compares with its own 30-day average — click a contract to analyze it in the OptiView platform.
Data as of Aug 24, 2026, 3:55 PM ET · OPRA data 15 minutes delayed · For information only — not investment advice.
Most Active USO Contracts
| Contract | Expiration | DTE | Last | IV | IV rank (30d) | Delta | Open interest | Volume | vs 30d avg |
|---|---|---|---|---|---|---|---|---|---|
| USO $120 put | Mar 19, 2027 | 207d | $9.36 | — | 30 | — | 899 | 9,763 | 699.5× avg |
| USO $115 put | Mar 19, 2027 | 207d | $7.45 | — | 29 | — | 1,722 | 9,002 | 645.0× avg |
| USO $200 call | Sep 18, 2026 | 25d | $0.12 | — | 5 | — | 11,430 | 6,668 | 149.8× avg |
| USO $120 put | Oct 16, 2026 | 53d | $3.35 | — | 12 | — | 18,635 | 3,286 | 33.8× avg |
| USO $115 put | Oct 16, 2026 | 53d | $2.06 | — | 8 | — | 17,496 | 2,860 | 29.4× avg |
| USO $135 call | Aug 28, 2026 | 4d | $1.53 | — | 10 | — | 2,551 | 2,842 | 12.4× avg |
| USO $155 call | Aug 28, 2026 | 4d | $0.06 | — | 3 | — | 1,788 | 2,538 | 22.7× avg |
| USO $135 call | Aug 26, 2026 | 2d | $0.85 | — | 4 | — | 1,422 | 2,305 | 3.7× avg |
| USO $130 put | Sep 18, 2026 | 25d | $4.65 | — | 10 | — | 4,059 | 2,216 | 47.1× avg |
| USO $160 call | Aug 28, 2026 | 4d | $0.04 | — | 7 | — | 1,759 | 2,158 | 19.3× avg |
| USO $138 call | Aug 26, 2026 | 2d | $0.38 | 0.0% | 0 | 1.00 | 1,447 | 2,043 | 2.1× avg |
| USO $138 call | Sep 11, 2026 | 18d | $3.20 | 0.0% | 0 | 1.00 | 44 | 2,021 | 28.6× avg |
| USO $240 call | Mar 17, 2028 | 571d | $5.17 | — | 17 | — | 303 | 1,760 | 120.1× avg |
| USO $205 call | Mar 17, 2028 | 571d | $7.68 | — | 11 | — | 776 | 1,760 | 120.1× avg |
| USO $128 put | Aug 26, 2026 | 2d | $0.40 | — | 2 | — | 381 | 1,711 | 5.5× avg |
| USO $125 put | Sep 18, 2026 | 25d | $2.73 | — | 6 | — | 4,134 | 1,708 | 36.3× avg |
| USO $125 put | Aug 26, 2026 | 2d | $0.16 | — | 1 | — | 765 | 1,607 | 5.1× avg |
| USO $115 put | Sep 18, 2026 | 25d | $0.75 | — | 5 | — | 9,456 | 1,555 | 21.6× avg |
| USO $150 call | Aug 28, 2026 | 4d | $0.11 | — | 26 | — | 6,716 | 1,434 | 5.7× avg |
| USO $170 call | Sep 4, 2026 | 11d | $0.09 | — | 33 | — | 221 | 1,259 | 15.6× avg |
| USO $126 put | Sep 18, 2026 | 25d | $3.00 | — | 6 | — | 363 | 1,212 | 25.7× avg |
| USO $104 call | Aug 26, 2026 | 2d | $28.29 | — | — | — | 0 | 1,077 | — |
| USO $120 put | Aug 28, 2026 | 4d | $0.13 | — | 14 | — | 3,589 | 1,020 | 5.2× avg |
| USO $111 put | Oct 16, 2026 | 53d | $1.37 | — | 2 | — | 4,041 | 1,009 | 8.4× avg |
| USO $130 put | Aug 26, 2026 | 2d | $0.90 | — | 4 | — | 833 | 974 | 3.1× avg |
Ranked by volume at the latest daily snapshot. "vs 30d avg" compares today's volume with the contract's own 30-day average.
The most active USO contract today is the $120 put expiring in 207 days, with 9,763 contracts traded. Puts dominate the most-active list (13 of the top 25), showing where trading interest concentrates. 23 of these contracts are running well ahead of the usual daily volume.
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USO Options FAQ
Which USO option contract is most active today?
The most traded USO contract is the $120 put expiring Mar 19, 2027, with 9,763 contracts traded as of Aug 24, 2026.
How does OptiView rank the most active USO options?
The table lists the 25 USO contracts with the highest volume at the latest daily snapshot, alongside price, implied volatility, delta, open interest, and each contract's volume versus its own 30-day average.
Methodology. IV rank compares the current 30-day at-the-money implied volatility with its highest and lowest values over the past 52 weeks. Max pain is the strike that minimizes the total payout to option holders at expiration. The call and put walls are the strikes carrying the largest call and put open interest across all expirations. Net gamma exposure (GEX) is measured from the dealer perspective. All statistics are derived from delayed OPRA options data.
Options trading involves significant risk, and losses can exceed your initial investment. Always consult a licensed financial professional before making investment decisions. OptiView does not provide financial advice; all figures on this page are descriptive statistics, not recommendations.