USO Options Chain by Expiration – Open Interest & Put/Call Ratio

Explore the USO options chain aggregated by expiration date, with call and put open interest, total OI and put/call ratios. Use this overview to spot where options positioning is most concentrated and which expirations carry bullish, bearish or neutral sentiment for USO.

Options Analysis Short-Term Forecast Short Interest Report

Market Sentiment from USO Options by Expiration Date

The table below aggregates USO options data by expiration date, including call volume, put volume, total open interest and the put/call ratio. Each row is assigned a sentiment label and numerical sentiment score, highlighting expirations where positioning is extremely bullish, defensive or balanced. Click on an expiration date to drill down into the detailed options chain for that maturity.

Expiration Date	Call OI	Put OI	Total Open Interest	Put/Call Ratio
2026-03-25	41465	51942	93407	1.253
2026-03-27	63442	60517	123959	0.954
2026-04-01	9664	6844	16508	0.708
2026-04-02	37049	35346	72395	0.954
2026-04-10	18561	21420	39981	1.154
2026-04-17	189622	259874	449496	1.370
2026-04-24	8498	8057	16555	0.948
2026-05-01	3165	4307	7472	1.361
2026-05-15	64191	63278	127469	0.986
2026-06-18	27916	74862	102778	2.682
2026-07-17	55262	137000	192262	2.479
2026-10-16	30889	83139	114028	2.692
2026-12-18	8997	7206	16203	0.801
2027-01-15	34173	50622	84795	1.481
2027-03-19	532	309	841	0.581
2027-06-17	11094	6713	17807	0.605
2028-01-21	12581	5091	17672	0.405
2028-03-17	8965	606	9571	0.068
2028-06-16	6623	2307	8930	0.348
2028-12-15	2089	1852	3941	0.887
How the Options Sentiment Score Is Calculated This sentiment framework evaluates market bias for USO based on aggregated options data by expiration date. The key metrics are: Put/Call Ratio (PCR): Compares put and call activity. A higher PCR usually indicates more defensive or bearish positioning, while a lower PCR suggests bullish call demand. Open Interest (OI): Represents the number of outstanding option contracts. Higher open interest reflects strong market attention, hedging activity or speculative positioning around USO. Unusual activity ⚠️: Expirations with extreme PCR or unusually high OI are flagged with a warning icon, signaling concentrated bets, hedging pressure or potential event-driven risk. The sentiment score combines PCR and OI into a 0–100 scale, then classifies each expiration into intuitive labels such as Strong Bullish, Moderate Bullish, Neutral, Moderate Bearish, Strong Bearish. Higher scores reflect more aggressive bullish positioning in USO options, while lower scores highlight more defensive or bearish structures.