UNH Options History — August 2014

In August 2014, UNH traded between $79.26 and $86.68. ATM implied volatility averaged 17.1%, placing in the 23.9% IV rank vs the trailing year. The 30-day expected move averaged 6.0%. IV traded below realized volatility by 2.6% (HV 20d: 19.7%). Max pain ranged from $82.50 to $85.00. Net GEX was positive for 19 of 21 trading days. Term structure was in contango for 16 of 21 days. Put/call ratio averaged 1.06.

Notable Days

2014-08-13: Highest Volume — 10,664 contracts
2014-08-07: Largest IV spike — 10.3% change
2014-08-07: Highest IV Rank — 55.2%
2014-08-08: Largest Expected Move — 6.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$82.67	$79.26	$86.68	$81.49	$86.68
Max Pain	$82.74	$82.50	$85.00	$82.50	$85.00
ATM IV	17.1%	14.0%	22.1%	19.8%	14.2%
Expected Move	6.0%	5.6%	6.5%	6.1%	5.6%
HV 20d	19.7%	16.6%	21.2%	18.6%	16.6%
HV 60d	15.6%	14.4%	16.1%	14.6%	15.9%
IV Rank	23.9%	4.5%	55.2%	40.4%	5.8%
IV Percentile	28.9%	0.8%	82.9%	58.3%	2.8%
Term Structure	0.2%	-1.5%	1.6%	0.2%	0.2%
VWIV	21.3%	19.2%	23.8%	21.2%	20.8%
Skew 25d	2.4%	1.3%	5.0%	2.6%	1.5%
Skew 10d	4.7%	2.2%	7.7%	5.6%	3.4%
Call IV 25d	16.5%	13.4%	21.3%	19.2%	13.9%
Put IV 25d	18.9%	15.4%	24.1%	21.9%	15.4%
Bid-Ask Spread %	15.23	11.90	19.57	12.48	19.29
Gamma HHI	0.13	0.10	0.16	0.12	0.12
Net GEX	6.7M	-1.9M	14.6M	5.3M	14.6M
Net DEX	-175.5M	-367.8M	-25.1M	-115.2M	-367.8M
Net VEX	-1.7M	-1.9M	-1.5M	-1.8M	-1.5M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.06	0.31	3.46	1.00	0.49
Total Volume	4,577.238	1,538	10,664	2,891	5,677
Total OI	155,985.238	148,745	163,027	152,179	161,942

Daily Data (21 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
2014-08-01	$81.49	$82.50	19.8%	6.1%	18.6%	40.4%	21.2%	2.6%	0.2%	5.3M	-115.2M	-1.8M	1.00	12.48	1,443	1,448	78,601	73,578
2014-08-04	$82.27	$82.50	18.8%	6.1%	18.3%	34.4%	21.8%	5.0%	0.5%	6.6M	-158.4M	-1.8M	0.31	12.57	1,905	588	77,409	72,430
2014-08-05	$80.99	$82.50	19.6%	6.3%	19.1%	39.6%	21.8%	2.1%	0.2%	3.9M	-95.0M	-1.8M	2.10	12.42	1,245	2,609	77,924	72,520
2014-08-06	$81.50	$82.50	20.1%	6.2%	18.9%	42.2%	22.4%	3.0%	0.1%	4.2M	-120.3M	-1.8M	0.93	14.25	1,579	1,473	78,215	74,451
2014-08-07	$79.26	$82.50	22.1%	6.5%	21.1%	55.2%	22.5%	2.6%	0.7%	673.7K	-25.1M	-1.8M	1.46	14.80	3,597	5,254	78,367	74,786
2014-08-08	$80.12	$82.50	21.1%	6.5%	21.2%	48.5%	23.8%	4.0%	0.9%	1.2M	-45.1M	-1.9M	1.35	15.82	2,765	3,745	79,728	78,432
2014-08-11	$79.87	$82.50	20.7%	6.4%	20.0%	46.1%	21.6%	2.0%	-0.4%	-1.0M	-35.3M	-1.8M	1.06	11.90	2,054	2,182	79,665	79,345
2014-08-12	$80.22	$82.50	19.6%	6.3%	20.2%	39.7%	21.2%	1.3%	-1.4%	-1.9M	-48.0M	-1.8M	0.57	12.99	1,443	816	80,445	79,772
2014-08-13	$81.51	$82.50	17.7%	6.1%	21.2%	27.5%	21.7%	2.1%	-0.6%	2.2M	-112.4M	-1.7M	2.27	12.95	3,266	7,398	80,416	80,108
2014-08-14	$81.82	$82.50	17.1%	6.0%	20.3%	23.6%	21.1%	3.1%	-0.9%	3.9M	-124.5M	-1.8M	0.50	13.78	1,028	510	80,212	82,327
2014-08-15	$81.47	$82.50	16.9%	6.0%	20.1%	22.6%	22.5%	2.4%	-1.5%	4.2M	-102.7M	-1.8M	3.46	13.88	1,884	6,516	80,693	82,334
2014-08-18	$82.34	$82.50	15.9%	6.0%	20.6%	16.1%	22.2%	2.6%	0.9%	4.6M	-158.7M	-1.7M	0.50	14.93	2,327	1,172	69,922	78,823
2014-08-19	$83.47	$82.50	15.2%	5.9%	20.8%	11.4%	22.8%	2.0%	1.4%	7.8M	-215.3M	-1.7M	0.47	15.88	3,687	1,729	70,993	79,147
2014-08-20	$83.43	$82.50	14.3%	5.9%	20.8%	6.1%	20.4%	2.6%	1.6%	9.7M	-220.5M	-1.7M	0.31	16.25	2,512	774	73,323	79,684
2014-08-21	$83.77	$82.50	14.1%	5.8%	20.9%	4.7%	20.8%	2.5%	0.8%	11.6M	-243.0M	-1.6M	0.54	18.01	1,127	608	73,848	80,065
2014-08-22	$83.78	$82.50	14.5%	5.8%	20.5%	7.1%	20.2%	2.3%	0.5%	11.9M	-235.9M	-1.7M	2.48	17.79	2,279	5,647	74,034	80,277
2014-08-25	$84.24	$82.50	14.7%	5.7%	20.1%	8.4%	19.2%	1.7%	0.2%	12.0M	-257.5M	-1.6M	0.34	16.41	1,315	453	74,102	82,399
2014-08-26	$85.12	$82.50	14.0%	5.7%	19.4%	4.5%	20.4%	2.2%	0.3%	13.7M	-299.9M	-1.6M	0.78	16.00	1,156	905	74,419	82,492
2014-08-27	$86.38	$82.50	15.2%	5.6%	19.1%	11.5%	19.4%	1.8%	0.0%	12.1M	-347.6M	-1.5M	0.36	17.83	5,507	1,973	74,481	83,113
2014-08-28	$86.34	$85.00	14.5%	5.6%	16.6%	7.1%	19.2%	1.6%	0.4%	14.6M	-357.0M	-1.5M	1.06	19.57	1,226	1,300	76,793	84,075
2014-08-29	$86.68	$85.00	14.2%	5.6%	16.6%	5.8%	20.8%	1.5%	0.2%	14.6M	-367.8M	-1.5M	0.49	19.29	3,816	1,861	77,189	84,753