UNH Options History — July 2008

In July 2008, UNH traded between $22.16 and $28.08. ATM implied volatility averaged 42.7%, placing in the 72.5% IV rank vs the trailing year. The 30-day expected move averaged 12.3%. IV traded below realized volatility by 5.7% (HV 20d: 48.4%). Max pain ranged from $25.00 to $30.00. Net GEX was positive for 11 of 22 trading days. Term structure was in contango for 3 of 22 days. Put/call ratio averaged 1.45.

Notable Days

  • 2008-07-16: Highest Volume — 147,927 contracts
  • 2008-07-03: Largest IV spike — 15.0% change
  • 2008-07-14: Highest IV Rank — 90.4%
  • 2008-07-14: Largest Expected Move — 14.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$24.75$22.16$28.08$25.63$28.08
Max Pain$25.68$25.00$30.00$30.00$25.00
ATM IV42.7%36.4%49.8%39.6%40.1%
Expected Move12.3%10.4%14.3%11.3%11.5%
HV 20d48.4%33.4%60.0%33.5%59.3%
HV 60d40.0%34.8%43.4%38.1%43.4%
IV Rank72.5%56.5%90.4%64.4%65.7%
IV Percentile90.6%81.3%99.2%88.9%82.9%
Term Structure-1.6%-5.6%3.5%0.9%-1.4%
VWIV42.2%36.6%48.2%39.5%40.6%
Skew 25d3.5%-2.7%10.7%-0.9%-0.9%
Skew 10d8.1%-14.2%20.1%1.4%1.4%
Call IV 25d42.4%39.4%47.1%43.3%41.1%
Put IV 25d45.9%37.6%54.6%42.5%40.3%
Bid-Ask Spread %10.595.3517.217.418.07
Gamma HHI0.290.180.580.200.20
Net GEX-734.5K-6.5M4.4M388.5K4.4M
Net DEX139.1M-253.5M425.1M227.0M-253.5M
Net VEX-1.7M-2.3M-832.8K-1.7M-2.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.450.1310.721.190.14
Total Volume37,690.1366,411147,92736,11743,038
Total OI636,049.955438,811758,746587,668658,817

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2008-07-01$25.63$30.0039.6%11.3%33.5%64.4%39.5%-0.9%0.9%388.5K227.0M-1.7M1.197.4116,46319,654345,629242,039
2008-07-02$25.12$30.0036.4%10.4%33.4%56.5%36.6%-2.2%3.5%328.6K243.2M-1.7M1.966.9715,88331,104356,086243,626
2008-07-03$22.96$30.0041.9%12.0%41.9%70.3%41.8%4.7%2.3%-657.6K349.7M-1.4M1.0114.5528,28828,513356,471253,016
2008-07-07$23.31$25.0045.2%12.5%43.6%78.8%41.9%5.4%-1.0%-667.2K322.3M-1.4M5.8113.2918,077105,053372,277250,940
2008-07-08$23.28$25.0042.0%12.4%43.7%70.8%42.4%4.7%-1.4%-4.0M363.2M-1.5M0.6411.1713,6808,810381,605280,116
2008-07-09$22.93$25.0041.6%12.7%43.6%69.5%44.4%4.7%-2.4%-3.3M330.5M-1.4M0.6412.048,7195,613386,558256,962
2008-07-10$22.58$25.0044.9%12.9%43.6%78.1%42.6%7.0%-2.0%-2.0M330.6M-1.3M0.1311.2722,1892,972388,785249,168
2008-07-11$22.16$25.0048.1%13.8%43.3%86.1%47.3%6.7%-4.2%-845.7K338.3M-1.3M1.4216.469,36113,300406,344249,736
2008-07-14$22.18$25.0049.8%14.3%43.7%90.4%48.2%7.6%-4.5%-742.6K259.4M-832.8K0.2411.225,1591,252249,592189,219
2008-07-15$22.33$25.0047.6%13.7%44.5%84.9%46.2%9.4%-2.2%23.4K303.5M-1.3M1.0116.6413,71613,831411,017235,586
2008-07-16$22.53$25.0048.7%14.0%45.2%87.7%44.0%10.7%-5.6%507.1K294.3M-1.4M10.7217.2112,621135,306417,688235,722
2008-07-17$23.58$25.0046.1%13.2%49.4%81.0%42.1%8.7%-2.5%-6.5M425.1M-1.7M1.1513.3914,70316,855422,258336,488
2008-07-18$23.90$25.0041.8%12.0%43.2%70.1%43.7%7.0%-0.9%-4.1M290.6M-1.8M0.5813.586,5913,849429,560291,416
2008-07-21$23.83$25.0042.8%12.3%42.5%72.7%44.8%9.0%-1.7%-3.9M173.7M-1.8M0.417.7517,7217,199366,868235,675
2008-07-22$26.21$25.0041.4%11.9%55.0%69.1%42.4%2.2%-2.7%-2.3M-15.2M-2.1M0.208.0145,6229,228375,636238,476
2008-07-23$27.76$25.0041.4%11.9%58.7%69.2%42.1%1.1%-2.9%1.1M-155.5M-2.2M0.445.3542,32518,775386,170241,490
2008-07-24$27.02$25.0041.1%11.8%59.4%68.4%41.5%-0.9%-0.6%590.2K-121.8M-2.3M0.477.1111,0175,126401,896242,975
2008-07-25$27.45$25.0039.5%11.3%58.5%64.2%39.7%-0.9%-1.0%1.6M-178.8M-2.3M0.397.248,1663,194405,471244,837
2008-07-28$26.78$25.0041.7%11.9%59.3%69.8%39.6%-2.7%-3.0%192.0K-107.8M-2.2M2.536.406,60816,704403,048245,215
2008-07-29$27.53$25.0039.5%11.3%60.0%64.3%38.0%-2.3%-0.5%2.1M-188.6M-2.2M0.317.449,1562,808408,086245,687
2008-07-30$27.28$25.0039.1%11.2%59.3%63.2%38.0%-1.1%-0.4%1.7M-170.2M-2.2M0.5610.307,0293,905407,804247,044
2008-07-31$28.08$25.0040.1%11.5%59.3%65.7%40.6%-0.9%-1.4%4.4M-253.5M-2.2M0.148.0737,8895,149410,571248,246