**Investors in the United States Oil Fund (Stock Symbol: USO) can now access new options that expire on April 15. Notably, a put contract at the $125.00 strike price has a bid of $6.40, allowing investors to commit to purchase shares at that price while effectively lowering their cost basis to $118.60. This offers a 2% discount compared to the current trading price of $127.71 per share. The likelihood of the put expiring worthless is approximately 60%, which would yield a return of 5.12% on cash commitment, or an annualized return of 124.59%.**
**Additionally, a call contract at the $133.00 strike price is available, with a current bid of $6.85. Investors purchasing shares at $127.71 and selling this call can expect a potential total return of 9.51% if their stock gets called away by expiration. The current odds of the call expiring worthless are about 53%, potentially providing an extra return of 5.36% or an annualized 130.52%. Implied volatilities for the put and call contracts are 93% and 96%, respectively.**
