i use a 30wt pure silicone oil sparingly. (rc car shock oil) about $3 to $7 a bottle. the grease (as norm stated) might be a better option. it would likely stat put better and not be shot down the barrel. remember sparingly. my .02
nothing but silicon for that o-ring, but if you mean the cocking lug/bolt (that goes through your receiver) silicon is NOT to be used, FP10(just a drop) would be good there.JOhn