How long until those are the last price traded and not daily change... EDIT: Well, change up the contract month by a month.
The settlement period is defined as: 14:28:00 to 14:30:00 ET for the Active Month and 14:28:00 to 14:30:00 ET for calendar spreads.
You should give thanks to the Lord that you are so poorly informed and set up. It saved you a bundle, perhaps another account blowup
USO is about the worst vehicle to express a view on oil beyond a few hours/days. Buy stocks of companies that are exposed to oil prices. Why is this not blatantly obvious?
Incorrect. May contract is simply a very close approximation to current spot prices. June contract is not. Even after Tuesday (may expiry) spot price will most likely still be in the low teens.