Most OBDII systems are adaptive, which means they will shift signals to the engine slightly as signals from sensors shift slightly, in order to compensate for small changes.
As the O2 sensors wear out they change signal. The OBDII will accommodate this change to a degree, but will eventually be unable to do so.
The manufacturer of the sensors will tell you they are good for around 50,000 miles. That's not to say they won't work beyond that point, but by that point they are probably starting to drift the signal. Unless you have the tools to read the signal in real time, you don't really know.
As with a lot of items, the O2 sensors are a maintenance item. Change them on a predetermined schedule. Sure they cost more than a case of beer, but so what. Gas these days is not cheap either, and your gas consumption is directly tied to the 02 sensors and how well they work. Since you are already at 150,000 miles, I would consider the O2's DOA and change them whether they are working or not. By the time they throw a code, they are long gone. Buy the best you can afford, and change them now.