UNH Options History — February 2014

In February 2014, UNH traded between $69.74 and $77.27. ATM implied volatility averaged 21.8%, placing in the 26.6% IV rank vs the trailing year. The 30-day expected move averaged 7.1%. IV traded above realized volatility by 0.4% (HV 20d: 21.4%). Max pain ranged from $72.50 to $72.50. Net GEX was positive for 13 of 19 trading days. Term structure was in contango for 6 of 19 days. Put/call ratio averaged 0.76.

Notable Days

2014-02-14: Highest Volume — 25,912 contracts
2014-02-14: Largest IV spike — 10.9% change
2014-02-14: Highest IV Rank — 33.2%
2014-02-06: Largest Expected Move — 7.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$72.89	$69.74	$77.27	$70.74	$77.27
Max Pain	$72.50	$72.50	$72.50	$72.50	$72.50
ATM IV	21.8%	18.6%	24.5%	23.9%	18.6%
Expected Move	7.1%	6.9%	7.3%	7.2%	6.9%
HV 20d	21.4%	19.3%	23.0%	23.0%	22.1%
HV 60d	19.3%	18.0%	20.8%	18.7%	20.8%
IV Rank	26.6%	13.9%	33.2%	31.8%	13.9%
IV Percentile	70.4%	29.4%	95.2%	93.7%	29.4%
Term Structure	-0.2%	-1.6%	0.9%	-0.9%	0.4%
VWIV	25.6%	23.8%	28.0%	24.7%	25.6%
Skew 25d	1.9%	1.4%	2.6%	2.1%	2.1%
Skew 10d	4.1%	2.6%	6.4%	2.6%	5.3%
Call IV 25d	21.2%	17.7%	24.0%	22.9%	17.7%
Put IV 25d	23.1%	19.8%	26.1%	25.0%	19.8%
Bid-Ask Spread %	6.92	3.08	22.64	8.65	4.78
Gamma HHI	0.15	0.11	0.25	0.18	0.25
Net GEX	8.8M	-11.1M	29.2M	-9.4M	28.1M
Net DEX	-135.8M	-492.0M	121.9M	95.2M	-492.0M
Net VEX	-1.6M	-1.7M	-1.4M	-1.5M	-1.4M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.76	0.21	1.24	0.66	0.21
Total Volume	11,598.895	2,888	25,912	15,683	15,064
Total OI	187,810.316	168,017	210,789	168,017	185,939

Daily Data (19 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
2014-02-03	$70.74	$72.50	23.9%	7.2%	23.0%	31.8%	24.7%	2.1%	-0.9%	-9.4M	95.2M	-1.5M	0.66	8.65	9,427	6,256	84,925	83,092
2014-02-04	$70.51	$72.50	22.5%	7.3%	22.8%	28.5%	24.0%	1.8%	-0.5%	-9.9M	121.9M	-1.5M	0.67	5.87	6,492	4,326	91,119	86,936
2014-02-05	$70.82	$72.50	22.1%	7.3%	19.5%	27.5%	25.2%	1.5%	-0.0%	-11.1M	92.0M	-1.6M	1.09	6.79	6,120	6,673	94,745	88,871
2014-02-06	$70.87	$72.50	21.7%	7.3%	19.3%	26.5%	26.3%	1.6%	0.9%	-10.6M	98.1M	-1.7M	0.59	4.64	5,889	3,481	98,164	93,166
2014-02-07	$71.36	$72.50	21.8%	7.1%	19.4%	26.9%	25.7%	1.4%	-0.2%	2.2M	61.9M	-1.7M	0.79	3.85	5,623	4,426	100,861	92,713
2014-02-10	$69.74	$72.50	22.7%	7.3%	19.9%	29.0%	26.4%	2.1%	-0.9%	-1.8M	71.8M	-1.6M	0.76	7.68	4,241	3,209	99,205	79,808
2014-02-11	$70.62	$72.50	22.0%	7.2%	20.5%	27.5%	27.9%	1.5%	-0.6%	254.5K	15.4M	-1.6M	0.46	3.55	4,811	2,218	100,716	80,836
2014-02-12	$70.24	$72.50	22.5%	7.2%	20.5%	28.5%	24.3%	1.5%	-0.9%	-770.7K	38.6M	-1.6M	0.82	6.35	2,808	2,306	103,285	81,551
2014-02-13	$71.21	$72.50	22.1%	7.1%	20.8%	27.5%	25.3%	1.7%	-0.6%	3.8M	-41.5M	-1.7M	0.90	3.22	4,114	3,697	104,570	82,106
2014-02-14	$73.52	$72.50	24.5%	7.2%	21.9%	33.2%	26.2%	2.1%	-1.6%	16.8M	-225.8M	-1.7M	0.62	6.62	16,022	9,890	105,641	83,792
2014-02-18	$73.83	$72.50	22.9%	7.2%	21.8%	29.4%	24.5%	2.6%	0.6%	12.6M	-234.2M	-1.7M	0.56	10.43	12,617	7,047	107,294	84,231
2014-02-19	$73.55	$72.50	23.5%	7.2%	21.7%	30.9%	24.4%	2.2%	-0.1%	13.7M	-218.6M	-1.7M	1.24	22.64	4,453	5,505	115,708	87,434
2014-02-20	$73.48	$72.50	23.3%	7.3%	21.7%	30.5%	28.0%	2.4%	-0.7%	13.0M	-212.7M	-1.7M	0.77	9.16	4,222	3,236	116,451	89,535
2014-02-21	$73.81	$72.50	22.4%	7.1%	21.7%	28.2%	23.8%	2.1%	0.4%	16.5M	-251.8M	-1.7M	0.96	6.25	10,422	10,020	119,179	91,610
2014-02-24	$76.01	$72.50	20.1%	6.9%	22.3%	22.7%	24.9%	2.2%	0.2%	23.9M	-388.1M	-1.5M	0.68	10.09	12,986	8,859	105,047	76,207
2014-02-25	$75.32	$72.50	19.8%	7.0%	22.7%	22.2%	25.9%	2.2%	-0.0%	23.0M	-345.5M	-1.5M	0.73	3.66	3,505	2,549	106,935	77,129
2014-02-26	$76.06	$72.50	19.2%	7.0%	22.8%	20.8%	27.0%	1.9%	0.1%	28.1M	-381.4M	-1.5M	0.74	4.14	2,866	2,111	105,637	78,514
2014-02-27	$76.02	$72.50	19.2%	7.0%	22.6%	20.8%	26.7%	2.2%	-0.0%	29.2M	-384.4M	-1.5M	1.12	3.08	1,364	1,524	106,534	78,910
2014-02-28	$77.27	$72.50	18.6%	6.9%	22.1%	13.9%	25.6%	2.1%	0.4%	28.1M	-492.0M	-1.4M	0.21	4.78	12,479	2,585	106,782	79,157