01 — USO · COVERED CALLS

Best USO covered calls setups.

Pick how long you want to wait and how much risk you'll take. We score every live strike across the next 3 expirations and surface the top setups — updated hourly.

WTI crude futures tracker with structural roll cost and event-driven moves around OPEC and inventories.

Find the best strikes →FREE · 20 ANALYSES/DAY · NO CARD
United States Oil Fund
Commodity ETF
USO
$166.57+16.2% / 30d
IV rank (1y)
13.2% · low
Option vol
34K /day

02 — Live setups

Suggested strikes

Choose your time horizon and risk band. Every match is scored on return, premium, and probability of profit.

Days to expiration
Probability of profit
Sort by
Top pick
$180 call · Dec 4
36 DAYS · 8.1% OTM · SELL TO OPEN
Credit
$680
Return
4.08%
PoP
64%
StrikeExpirationCreditReturn ↓PoP
$185
11.1% OTM
Dec 4
36 days
$600
$6.00 / share
3.6%68%
$176
5.7% OTM
Nov 20
22 days
$583
$5.83 / share
3.5%62%
$180
8.1% OTM
Nov 27
29 days
$580
$5.80 / share
3.48%66%
$175
5.1% OTM
Nov 20
22 days
$530
$5.30 / share
3.18%61%
$190
14.1% OTM
Dec 4
36 days
$484
$4.84 / share
2.91%73%
$185
11.1% OTM
Nov 27
29 days
$470
$4.70 / share
2.82%72%
$180
8.1% OTM
Nov 20
22 days
$465
$4.65 / share
2.79%69%
8 of 8 matchesCustomize filters →

03 — Strategy

Covered Calls, plainly explained

Neutral-to-mildly bullish traders focused on steady premium collection.

P&L at expiration · $180 call · 36 DTE

$0+$2,023losses$159.77 BREAKEVEN$180 STRIKE

Key numbers

Premium collected+$680
Max profit+$2,023
Breakeven$159.77
Capped above$180
Probability of profit64%
Days to expiration36

When this trade makes sense

Use when

  • ✓You already own 100+ shares of the stock
  • ✓You'd be fine selling at the strike price
  • ✓You think the stock goes flat or slightly up
  • ✓IV rank is elevated — premiums are rich

Avoid when

  • ✕You think the stock is about to rip higher
  • ✕You're attached to the shares (tax, conviction)
  • ✕Earnings are inside the expiration window
  • ✕Premiums are unusually low — nothing to collect
Read the full covered calls guide →

05 — RUN IT LIVE

See the highest chance of profit on USO.

Option Agent scans live chains and recommends setups based on current market conditions.

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Option Agent is not a registered investment advisor, broker-dealer, or financial planner. All analysis, recommendations, and data are for informational and educational purposes only and do not constitute personalized investment advice. Options trading involves substantial risk of loss and is not suitable for all investors. Past probability calculations do not guarantee future results. Consult a qualified financial advisor before making investment decisions.