UNH Options History — July 2014

In July 2014, UNH traded between $81.05 and $86.05. ATM implied volatility averaged 17.4%, placing in the 25.7% IV rank vs the trailing year. The 30-day expected move averaged 5.9%. IV traded above realized volatility by 3.6% (HV 20d: 13.8%). Max pain ranged from $77.50 to $87.50. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 4 of 22 days. Put/call ratio averaged 0.99.

Notable Days

2014-07-17: Highest Volume — 21,342 contracts
2014-07-17: Largest IV drop — 17.4% change
2014-07-16: Highest IV Rank — 38.2%
2014-07-10: Largest Expected Move — 6.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$83.80	$81.05	$86.05	$81.89	$81.05
Max Pain	$80.36	$77.50	$87.50	$77.50	$82.50
ATM IV	17.4%	15.0%	19.4%	18.5%	19.2%
Expected Move	5.9%	5.5%	6.2%	6.2%	6.1%
HV 20d	13.8%	11.9%	18.9%	12.2%	18.9%
HV 60d	15.2%	13.9%	16.4%	16.1%	16.1%
IV Rank	25.7%	10.3%	38.2%	32.4%	36.8%
IV Percentile	29.2%	5.6%	54.8%	38.5%	53.2%
Term Structure	-0.4%	-1.2%	0.4%	-0.1%	-0.4%
VWIV	21.2%	18.5%	23.3%	22.8%	22.1%
Skew 25d	2.2%	1.1%	3.2%	2.1%	2.6%
Skew 10d	4.8%	2.6%	7.5%	5.3%	4.4%
Call IV 25d	16.7%	14.5%	19.1%	17.9%	18.8%
Put IV 25d	18.9%	16.1%	21.4%	20.1%	21.4%
Bid-Ask Spread %	11.41	7.08	17.94	8.48	15.97
Gamma HHI	0.17	0.13	0.27	0.13	0.13
Net GEX	10.7M	4.7M	13.2M	11.1M	4.7M
Net DEX	-267.9M	-381.4M	-96.6M	-229.3M	-96.6M
Net VEX	-1.5M	-1.7M	-1.4M	-1.6M	-1.7M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.99	0.31	3.28	0.81	0.54
Total Volume	5,794.091	1,458	21,342	1,458	10,691
Total OI	134,015.136	123,881	150,797	123,881	146,972

Daily Data (22 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
2014-07-01	$81.89	$77.50	18.5%	6.2%	12.2%	32.4%	22.8%	2.1%	-0.1%	11.1M	-229.3M	-1.6M	0.81	8.48	804	654	65,357	58,524
2014-07-02	$82.49	$77.50	18.3%	6.2%	12.1%	31.1%	23.3%	2.9%	-0.6%	11.3M	-251.0M	-1.6M	1.18	7.08	979	1,158	65,873	58,665
2014-07-03	$83.35	$77.50	18.4%	6.2%	11.9%	31.9%	23.0%	2.5%	-0.6%	10.4M	-282.8M	-1.5M	0.66	7.41	2,214	1,454	66,180	59,439
2014-07-07	$82.22	$77.50	18.9%	6.2%	13.2%	35.0%	21.8%	2.4%	-0.8%	11.1M	-236.3M	-1.5M	1.65	7.28	1,824	3,013	65,781	59,735
2014-07-08	$81.93	$77.50	18.7%	6.2%	13.2%	34.0%	22.7%	1.9%	-0.8%	11.2M	-218.0M	-1.6M	0.96	7.24	823	792	67,062	61,595
2014-07-09	$82.74	$77.50	19.3%	6.2%	13.6%	37.3%	22.6%	2.2%	-1.2%	11.0M	-253.8M	-1.5M	0.63	8.85	1,134	720	67,462	62,103
2014-07-10	$82.08	$77.50	19.1%	6.2%	14.0%	36.2%	22.9%	2.8%	-0.8%	11.3M	-232.4M	-1.6M	0.57	7.68	1,196	680	67,810	62,483
2014-07-11	$82.87	$77.50	18.2%	6.2%	13.7%	30.4%	20.2%	2.9%	-0.4%	12.0M	-267.5M	-1.5M	0.35	7.63	3,119	1,078	68,342	62,787
2014-07-14	$84.27	$77.50	18.5%	6.1%	14.5%	32.5%	21.1%	1.8%	0.4%	10.8M	-315.3M	-1.4M	1.27	8.19	3,635	4,609	68,144	62,603
2014-07-15	$83.90	$77.50	19.1%	6.1%	13.1%	36.4%	22.8%	1.8%	-0.8%	9.2M	-283.0M	-1.5M	0.84	9.69	3,116	2,611	69,156	65,421
2014-07-16	$83.76	$77.50	19.4%	6.1%	13.3%	38.2%	20.6%	1.9%	-0.2%	9.5M	-281.0M	-1.5M	3.28	12.28	3,174	10,414	71,025	67,109
2014-07-17	$85.11	$77.50	16.0%	6.1%	13.6%	16.9%	22.4%	1.7%	0.3%	9.2M	-353.1M	-1.4M	0.67	10.69	12,760	8,582	71,789	71,659
2014-07-18	$85.52	$77.50	15.0%	6.1%	12.7%	10.3%	22.5%	1.6%	0.3%	13.2M	-381.4M	-1.4M	0.53	8.16	3,820	2,011	76,776	74,021
2014-07-21	$85.06	$0.00	15.3%	5.5%	12.7%	12.5%	19.3%	1.7%	-0.5%	9.6M	-275.3M	-1.5M	1.46	14.50	1,127	1,643	65,404	61,315
2014-07-22	$86.05	$85.00	15.0%	5.5%	13.1%	10.7%	19.1%	1.1%	-0.2%	10.4M	-316.9M	-1.4M	0.31	10.91	5,026	1,540	66,021	62,302
2014-07-23	$85.94	$85.00	15.3%	5.5%	13.2%	12.3%	18.5%	1.2%	-0.1%	12.3M	-322.5M	-1.4M	1.82	17.73	1,385	2,514	69,487	62,922
2014-07-24	$85.68	$87.50	15.0%	5.5%	13.2%	10.8%	20.2%	2.3%	0.0%	12.8M	-310.3M	-1.5M	1.14	17.94	1,806	2,067	70,844	63,722
2014-07-25	$84.68	$85.00	15.8%	5.5%	14.1%	15.4%	18.7%	2.3%	-0.1%	11.4M	-261.6M	-1.6M	0.84	14.12	4,422	3,699	71,804	65,713
2014-07-28	$85.75	$85.00	15.9%	5.6%	14.5%	15.9%	0.0%	3.1%	-0.2%	13.1M	-302.1M	-1.6M	0.42	15.53	1,766	739	73,258	66,852
2014-07-29	$84.27	$85.00	16.9%	5.6%	16.0%	22.4%	19.4%	2.2%	-0.7%	11.4M	-247.9M	-1.6M	0.93	16.28	1,902	1,770	74,111	67,276
2014-07-30	$82.95	$85.00	17.4%	5.7%	17.1%	25.8%	19.9%	3.2%	-0.6%	7.7M	-176.4M	-1.7M	0.98	17.33	4,546	4,453	75,021	68,408
2014-07-31	$81.05	$82.50	19.2%	6.1%	18.9%	36.8%	22.1%	2.6%	-0.4%	4.7M	-96.6M	-1.7M	0.54	15.97	6,937	3,754	75,924	71,048