UNH Options History — March 2014

In March 2014, UNH traded between $75.70 and $81.99. ATM implied volatility averaged 20.4%, placing in the 14.7% IV rank vs the trailing year. The 30-day expected move averaged 6.9%. IV traded above realized volatility by 1.9% (HV 20d: 18.5%). Max pain ranged from $72.50 to $75.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 16 of 21 days. Put/call ratio averaged 0.90.

Notable Days

  • 2014-03-11: Highest Volume — 33,808 contracts
  • 2014-03-19: Largest IV spike — 7.2% change
  • 2014-03-13: Highest IV Rank — 17.3%
  • 2014-03-14: Largest Expected Move — 7.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$79.07$75.70$81.99$77.10$81.99
Max Pain$73.45$72.50$75.00$72.50$75.00
ATM IV20.4%18.5%22.0%19.8%21.7%
Expected Move6.9%6.7%7.0%6.9%6.7%
HV 20d18.5%16.4%21.9%21.9%16.4%
HV 60d20.3%19.6%20.9%20.7%20.3%
IV Rank14.7%11.5%17.3%16.7%15.1%
IV Percentile51.1%27.0%71.8%42.1%65.1%
Term Structure0.8%-0.6%3.1%0.7%-0.6%
VWIV25.4%22.1%29.9%23.4%22.1%
Skew 25d2.4%1.3%3.3%2.4%2.8%
Skew 10d4.9%2.2%6.6%5.0%5.8%
Call IV 25d19.8%17.9%21.5%19.2%20.5%
Put IV 25d22.2%19.9%24.0%21.6%23.2%
Bid-Ask Spread %5.313.369.524.484.13
Gamma HHI0.190.150.270.200.18
Net GEX15.1M5.3M19.1M16.6M13.5M
Net DEX-300.6M-395.3M-90.0M-329.3M-342.3M
Net VEX-1.5M-1.5M-1.4M-1.4M-1.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.900.202.881.052.88
Total Volume8,364.0482,63533,8086,2123,013
Total OI147,787.952131,351161,653150,832131,351

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2014-03-03$77.10$72.5019.8%6.9%21.9%16.7%0.0%2.4%0.7%16.6M-329.3M-1.4M1.054.483,0343,17886,96063,872
2014-03-04$78.13$72.5019.3%6.9%20.1%15.5%23.4%2.2%0.7%17.3M-377.5M-1.5M0.503.857,2693,63388,33165,910
2014-03-05$77.99$72.5018.7%6.9%20.0%14.0%27.8%1.9%1.1%18.4M-373.1M-1.5M1.663.361,8123,01590,51866,396
2014-03-06$77.64$72.5018.6%6.9%20.3%13.7%26.5%2.0%1.5%18.2M-355.9M-1.5M0.636.022,3941,51591,40968,419
2014-03-07$77.40$72.5019.0%6.9%20.5%14.7%23.0%2.1%1.6%17.5M-340.8M-1.5M0.985.173,1283,07192,49169,162
2014-03-10$77.88$72.5019.1%6.9%20.4%15.0%26.2%1.3%1.9%18.6M-322.5M-1.5M0.625.678,6505,39686,04161,945
2014-03-11$77.78$72.5018.5%6.9%17.9%13.5%25.4%1.7%2.2%18.4M-312.8M-1.5M0.204.4528,1665,64288,50665,213
2014-03-12$77.60$72.5018.7%6.9%17.9%13.9%29.9%1.9%2.1%14.0M-191.0M-1.5M0.877.401,4561,27175,39769,295
2014-03-13$77.01$72.5020.0%6.9%18.1%17.3%0.0%1.8%2.3%10.8M-164.3M-1.5M1.805.131,8933,40475,61669,596
2014-03-14$75.70$72.5021.1%7.0%19.3%13.6%25.3%3.0%3.1%5.3M-90.0M-1.5M0.407.466,4082,58676,23071,241
2014-03-17$76.76$72.5020.6%6.9%16.6%12.1%24.3%3.1%1.0%11.0M-146.0M-1.5M1.005.311,9131,91376,32670,026
2014-03-18$78.00$72.5020.4%6.9%17.3%11.5%25.8%2.3%0.5%17.5M-220.1M-1.5M1.574.452,1243,33577,22670,961
2014-03-19$79.96$72.5021.8%6.9%18.8%15.6%25.5%2.1%0.2%19.1M-323.0M-1.5M0.406.7510,7894,35678,41273,075
2014-03-20$81.53$75.0021.6%6.8%19.4%15.0%23.8%2.5%0.4%16.9M-395.3M-1.4M0.509.527,4573,72680,17274,786
2014-03-21$81.34$75.0021.5%6.7%19.6%14.6%27.3%2.6%0.6%14.1M-392.7M-1.4M0.445.3610,5084,58583,20476,901
2014-03-24$81.28$75.0021.6%6.8%17.4%14.9%25.0%2.9%0.1%13.1M-312.8M-1.5M0.453.784,8092,18472,65859,156
2014-03-25$81.10$75.0021.9%6.9%16.9%15.6%24.9%3.3%-0.4%14.5M-318.3M-1.5M0.574.453,4781,98875,24460,120
2014-03-26$81.54$75.0021.7%6.8%16.8%15.2%25.2%2.8%-0.3%14.3M-341.6M-1.5M0.736.232,1091,53477,90061,388
2014-03-27$81.02$75.0022.0%6.8%17.1%15.9%25.5%2.6%-0.5%15.1M-318.3M-1.5M1.284.231,1541,48178,84361,951
2014-03-28$81.62$75.0021.8%6.8%16.5%15.4%25.4%2.7%-0.6%13.2M-346.0M-1.5M0.334.274,7271,54179,04562,254
2014-03-31$81.99$75.0021.7%6.7%16.4%15.1%22.1%2.8%-0.6%13.5M-342.3M-1.4M2.884.137772,23675,25356,098