USO= oil My question is why doesn't it track oil exactly? Sometimes oil is up .30 cents and this USO is down .30 cents.
if this SEC doc. is correct ... then would approx 528 USO = 1 QM ? ( QM = 1/2 size crude oil contract on nymex ) -As of May 18, 2006, USOF had 3,500,000 outstanding units. At that time, USOF owned 3,316 light, sweet crude oil futures contracts, which had a market value as of the close of trading that day of $232,584,240. USOF maintained cash deposits at USOF's custodian bank and margin with USOF's futures commission merchant in an aggregate amount of $232,796,908-