UNH Options History — March 2013

In March 2013, UNH traded between $53.32 and $57.21. ATM implied volatility averaged 19.4%, placing in the 15.6% IV rank vs the trailing year. The 30-day expected move averaged 5.8%. IV traded above realized volatility by 3.9% (HV 20d: 15.5%). Max pain ranged from $55.00 to $55.00. Net GEX was positive for 12 of 20 trading days. Term structure was in contango for 14 of 20 days. Put/call ratio averaged 0.74.

Notable Days

2013-03-27: Highest Volume — 16,650 contracts
2013-03-14: Largest IV spike — 35.3% change
2013-03-04: Highest IV Rank — 24.1%
2013-03-28: Largest Expected Move — 6.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$54.67	$53.32	$57.21	$53.52	$57.21
Max Pain	$55.00	$55.00	$55.00	$55.00	$55.00
ATM IV	19.4%	13.2%	24.3%	21.7%	22.4%
Expected Move	5.8%	5.0%	6.4%	6.2%	6.4%
HV 20d	15.5%	10.4%	21.6%	21.6%	11.0%
HV 60d	19.8%	19.3%	20.2%	20.2%	19.8%
IV Rank	15.6%	4.8%	24.1%	19.5%	20.8%
IV Percentile	27.3%	0.4%	66.3%	45.6%	50.4%
Term Structure	0.4%	-2.5%	1.8%	0.4%	-2.5%
VWIV	20.4%	17.9%	24.2%	19.2%	22.6%
Skew 25d	3.0%	2.4%	4.3%	4.3%	2.4%
Skew 10d	8.0%	4.4%	10.2%	10.2%	5.8%
Call IV 25d	19.3%	17.2%	21.8%	18.9%	21.8%
Put IV 25d	22.3%	19.8%	24.6%	23.2%	24.2%
Bid-Ask Spread %	7.09	4.07	11.25	11.25	8.20
Gamma HHI	0.23	0.16	0.39	0.19	0.23
Net GEX	993.0K	-2.3M	7.8M	-2.0M	4.4M
Net DEX	-3.7M	-166.6M	83.2M	69.6M	-166.6M
Net VEX	-1.3M	-1.6M	-1.2M	-1.2M	-1.6M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.74	0.09	2.61	0.41	0.34
Total Volume	8,078.6	2,050	16,650	12,200	9,996
Total OI	164,681.35	132,921	185,780	166,370	170,855

Daily Data (20 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2013-03-01	$53.52	$55.00	21.7%	6.2%	21.6%	19.5%	19.2%	4.3%	0.4%	-2.0M	69.6M	-1.2M	0.41	11.25	8,666	3,534	80,094	86,276
2013-03-04	$53.32	$55.00	24.3%	6.4%	21.1%	24.1%	24.2%	3.7%	0.8%	-2.0M	83.2M	-1.2M	2.61	6.06	1,983	5,173	80,175	85,566
2013-03-05	$53.50	$55.00	23.4%	6.2%	21.2%	22.6%	21.2%	3.5%	1.0%	-2.0M	73.0M	-1.2M	0.78	7.36	1,678	1,301	81,182	87,422
2013-03-06	$53.61	$55.00	20.3%	6.2%	16.0%	17.1%	20.5%	3.5%	1.2%	-2.3M	67.1M	-1.2M	0.45	6.71	4,557	2,057	82,366	89,233
2013-03-07	$53.80	$55.00	17.2%	5.6%	16.2%	11.7%	20.2%	3.5%	1.7%	-2.0M	70.7M	-1.2M	0.80	6.37	1,138	912	84,382	90,616
2013-03-08	$53.81	$55.00	16.6%	5.5%	16.2%	10.8%	20.7%	3.4%	1.5%	-1.8M	68.3M	-1.2M	0.09	4.07	11,467	1,034	84,932	90,979
2013-03-11	$54.21	$55.00	16.3%	5.5%	15.7%	10.3%	19.4%	3.1%	1.5%	-651.1K	34.4M	-1.2M	0.43	7.04	5,329	2,289	86,241	90,996
2013-03-12	$54.83	$55.00	14.5%	5.3%	16.2%	7.0%	19.0%	2.6%	1.4%	4.1M	-9.8M	-1.2M	0.16	5.69	8,846	1,457	88,518	91,984
2013-03-13	$54.48	$55.00	13.2%	5.3%	16.3%	4.8%	19.1%	2.6%	1.6%	3.8M	19.3M	-1.2M	0.38	5.60	3,560	1,354	86,780	92,382
2013-03-14	$54.73	$55.00	17.8%	5.1%	16.4%	12.9%	18.7%	2.5%	1.6%	7.8M	1.4M	-1.2M	1.63	7.12	5,421	8,817	85,700	91,006
2013-03-15	$54.73	$55.00	17.6%	5.0%	16.4%	12.5%	17.9%	2.6%	1.8%	4.3M	30.1M	-1.3M	0.40	7.59	4,280	1,716	88,154	97,626
2013-03-18	$55.00	$55.00	18.8%	5.4%	16.4%	14.5%	18.9%	2.7%	0.6%	-726.8K	-23.5M	-1.3M	0.26	7.91	5,521	1,460	60,548	72,373
2013-03-19	$55.17	$55.00	18.9%	5.4%	16.1%	14.6%	18.2%	2.8%	0.9%	318.0K	-37.9M	-1.3M	0.67	6.37	7,214	4,818	64,217	73,345
2013-03-20	$54.88	$55.00	19.3%	5.5%	13.3%	15.5%	20.0%	3.0%	0.3%	591.2K	-30.4M	-1.4M	1.03	6.13	1,485	1,532	70,141	76,720
2013-03-21	$55.06	$55.00	20.2%	5.8%	13.4%	17.1%	20.4%	2.6%	-0.0%	625.6K	-39.3M	-1.4M	0.22	8.36	11,530	2,558	70,765	77,422
2013-03-22	$54.46	$55.00	21.3%	6.1%	13.0%	19.0%	22.0%	3.5%	-0.9%	816.4K	-25.6M	-1.5M	2.49	7.23	1,537	3,826	77,613	78,806
2013-03-25	$54.86	$55.00	21.8%	6.2%	10.4%	19.8%	22.5%	2.9%	-1.2%	1.1M	-38.9M	-1.5M	0.54	7.13	1,492	801	77,836	80,183
2013-03-26	$55.65	$55.00	21.4%	6.1%	11.1%	19.0%	21.1%	2.8%	-1.4%	2.2M	-83.0M	-1.5M	0.77	6.72	2,585	1,998	78,679	80,494
2013-03-27	$56.62	$55.00	21.3%	6.1%	11.4%	18.8%	21.7%	2.4%	-1.8%	3.3M	-136.7M	-1.5M	0.41	8.91	11,780	4,870	79,879	81,141
2013-03-28	$57.21	$55.00	22.4%	6.4%	11.0%	20.8%	22.6%	2.4%	-2.5%	4.4M	-166.6M	-1.6M	0.34	8.20	7,460	2,536	86,529	84,326