A little off topic, but a word of caution for anyone buying or selling USO. The damn thing is an LP that does not make distributions of gains or losses from futures/options trades to the Limited Partners. In other words, you as a share holder get to share in the tax liabilities from the fund's trades, but you don't get any of the distributions. So when it comes time to do your taxes you can get screwed. For example, lets say last year you made a trade in USO, but you got stopped out with a lose. You would think that you can subtract the full lose from your other gains (if any) and therefore lower your tax liability, but according to the K-1 form the fund sent out for 2007 the fund made gains in futures/options that were not distributed to shareholders. Unfortunately, those gains are your tax liability even though you did not receive the distributions. Depending on the size of your trading loss the funds undistributed gains might be larger then your loss. This might create a situation where you will owe tax on money you never received. Of course the opposite can happen if the fund has undistributed losses for 2008. -Neo PS. Please feel free to correct me. This is not tax advice.