USO Options Are Pricing a ±$13 Move Into July 31 — Our Read Says the $130 Shelf Holds

United States Oil Fund, ticker USO, closed Friday at 136.71. Hold onto that number, because everything in this episode is measured against it. Our read into the July 31 expiration is leaning bullish. A mild tilt. Not a conviction call. The strongest single piece of evidence sits underneath the market: the heaviest open option positioning into this expiration is stacked beneath the close…

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