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United States Oil Fund

USO · ETF · Commodity - Oilsmall
📊 Today's Best USO Covered Call

The best covered call for USO today is the 2026-04-17 $125 Call with 35.3% monthly yield and 2.5% downside protection — current stock price $125.84, as of 5:05 PM ET on April 16.

IV: 74% · Delta: 0.57 · CCL Score: 1
Live Price
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Change
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52W High
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52W Low
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Market Data

USO Key Data

Symbol
USO
Name
United States Oil Fund
Type
ETF
Sector
ETF
Industry
Commodity - Oil
Exchange
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Live Price
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52-Week High
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52-Week Low
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Market Cap
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Market Cap Tier
small
CCL Score
1
Strategy
Covered Calls
Access
Free Trial
About

About USO

United States Oil Fund is a publicly traded etf commonly used in covered call strategies to generate consistent income from existing positions.

Strategy

USO Covered Call Strategy

Covered calls on USO allow shareholders to collect premium income while holding the stock. The most common approach is selling out-of-the-money calls 30–45 days to expiration (DTE) to balance premium income with potential upside. If you own 100 shares of USO, you can sell 1 call contract per 100 shares to generate consistent monthly income.

Covered calls on USO cap your upside at the strike price but provide downside cushion equal to the premium received.
How It Works

How to Run a Covered Call on USO

01
Own 100 Shares
You must own at least 100 shares of USO to sell 1 covered call contract. Each options contract covers exactly 100 shares.
02
Choose Strike and Expiry
Select a call strike above the current USO price (OTM) and an expiry date. 30–45 DTE monthly cycles are most popular for income generation.
03
Sell the Call
Sell 1 call contract to collect the premium immediately. This income is yours regardless of what USO does next.
04
Manage at Expiry
If USO stays below your strike, the option expires worthless and you keep the premium. If it rises above, shares get called away at the strike.
FAQ

Frequently Asked Questions

Can I sell covered calls on USO?
Yes, USO has listed options. You need to own 100 shares per contract. Use our screener to find the best strikes and expiries based on your goals.
What strike should I choose for USO covered calls?
Most income traders choose strikes 2–10% above the current USO price (OTM), balancing premium income with allowing some upside.
What is the best expiry for USO covered calls?
Monthly options (30–45 DTE) have the best time-decay characteristics. Weekly options offer more flexibility but require more active management.
How much premium can I collect on USO covered calls?
As of the last scanner update, the best USO covered call offers 35.3% monthly yield. Use CoveredCalls.live to see real-time premiums updated daily.
What happens if USO rises above my strike?
Your shares get called away at the strike price. You keep the premium plus any gain from your cost basis to the strike. You can then buy shares back and repeat.
What is the CCL Score?
The CCL Score is CoveredCalls.live's proprietary ranking metric. It weights annualized return (45%), bid-ask spread quality (25%), downside protection (15%), and open interest/delta factors (15%).

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