$USO and that 127 level again

Anyone else watching $USO bounce off that 127 handle like it's a trampoline? It’s been flirting with this zone for a bit now, and today we saw it poke its head above it again, currently around 127.29. Intraday low was 126.805, high at 127.4652 – pretty tight range right around that number.

I'm not trying to call a top or a bottom here, but for options traders, this kind of consolidation around a psychological (and seemingly technical) level is interesting for premium decay plays or even straddles/strangles if implied vol starts to move meaningfully. My concern is if we get a sustained push below 126.50. That would invalidate the recent support I’m seeing and could open the door for a quick retest of lower levels. On the flip side, a convincing close above 127.50 could give it some legs, but it hasn’t managed to hold that for long recently. Always fun watching these things, keeps you on your toes.