UNH Options History — October 2014

In October 2014, UNH traded between $82.16 and $94.91. ATM implied volatility averaged 21.2%, placing in the 50.1% IV rank vs the trailing year. The 30-day expected move averaged 6.0%. IV traded below realized volatility by 2.4% (HV 20d: 23.6%). Max pain ranged from $87.50 to $87.50. Net GEX was positive for 16 of 23 trading days. Term structure was in contango for 9 of 23 days. Put/call ratio averaged 0.99.

Notable Days

2014-10-15: Highest Volume — 21,447 contracts
2014-10-16: Largest IV drop — 20.9% change
2014-10-13: Highest IV Rank — 100.0%
2014-10-15: Largest Expected Move — 7.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$87.96	$82.16	$94.91	$84.88	$94.91
Max Pain	$87.50	$87.50	$87.50	$87.50	$87.50
ATM IV	21.2%	17.2%	30.8%	22.3%	17.2%
Expected Move	6.0%	5.6%	7.2%	5.9%	5.6%
HV 20d	23.6%	16.4%	29.3%	16.4%	26.9%
HV 60d	19.2%	16.9%	21.5%	17.0%	19.3%
IV Rank	50.1%	22.2%	100.0%	56.5%	22.2%
IV Percentile	67.0%	27.8%	100.0%	89.7%	27.8%
Term Structure	-0.4%	-2.5%	1.1%	-1.1%	0.8%
VWIV	21.6%	20.1%	24.5%	20.6%	21.5%
Skew 25d	3.3%	1.3%	6.4%	3.2%	2.0%
Skew 10d	7.3%	4.0%	12.8%	5.1%	5.7%
Call IV 25d	20.4%	15.3%	28.4%	21.6%	16.8%
Put IV 25d	23.7%	18.7%	33.6%	24.8%	18.7%
Bid-Ask Spread %	17.97	13.62	32.14	13.62	15.15
Gamma HHI	0.14	0.08	0.18	0.09	0.16
Net GEX	6.1M	-10.5M	16.5M	-1.4M	15.0M
Net DEX	-218.8M	-535.0M	31.3M	-60.3M	-535.0M
Net VEX	-1.8M	-1.9M	-1.6M	-1.8M	-1.6M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.99	0.29	2.80	0.78	0.85
Total Volume	10,434.217	2,789	21,447	4,945	19,533
Total OI	157,852.957	144,721	175,779	144,743	175,779

Daily Data (23 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
2014-10-01	$84.88	$87.50	22.3%	5.9%	16.4%	56.5%	20.6%	3.2%	-1.1%	-1.4M	-60.3M	-1.8M	0.78	13.62	2,780	2,165	64,218	80,525
2014-10-02	$84.90	$87.50	21.9%	5.7%	16.4%	53.7%	21.5%	4.3%	-0.2%	-2.0M	-61.4M	-1.8M	0.69	14.90	4,971	3,424	65,821	81,365
2014-10-03	$86.02	$87.50	21.5%	5.7%	16.8%	51.6%	20.1%	3.4%	-1.1%	-956.6K	-115.1M	-1.8M	0.50	14.67	2,513	1,255	67,375	80,877
2014-10-06	$85.09	$87.50	21.1%	5.7%	17.2%	48.8%	20.5%	2.9%	-0.8%	1.6M	-93.0M	-1.8M	1.79	14.36	1,038	1,854	66,145	78,576
2014-10-07	$84.19	$87.50	22.5%	5.8%	17.1%	57.4%	20.3%	2.1%	0.3%	-31.7K	-55.3M	-1.8M	0.29	17.27	3,027	874	66,640	79,639
2014-10-08	$86.60	$87.50	20.0%	5.7%	19.6%	42.0%	20.3%	5.9%	1.1%	4.3M	-152.9M	-1.8M	1.78	16.94	6,001	10,681	67,797	80,174
2014-10-09	$84.94	$87.50	23.1%	5.9%	20.7%	61.3%	23.2%	1.3%	-1.9%	-10.5M	-50.3M	-1.9M	0.84	14.53	3,185	2,665	68,822	86,732
2014-10-10	$85.39	$87.50	23.3%	6.0%	20.6%	89.2%	20.9%	2.6%	-2.3%	-9.3M	-72.6M	-1.9M	2.80	18.02	3,348	9,371	71,216	87,426
2014-10-13	$83.95	$87.50	26.3%	6.3%	21.4%	100.0%	22.6%	2.2%	-0.7%	1.8M	-55.5M	-1.9M	1.25	19.50	1,990	2,479	70,396	80,293
2014-10-14	$83.53	$87.50	26.2%	6.4%	20.8%	99.2%	22.9%	2.7%	-1.7%	684.1K	-38.4M	-1.9M	1.13	18.40	5,645	6,371	70,502	81,873
2014-10-15	$82.16	$87.50	30.8%	7.2%	21.4%	100.0%	24.5%	5.2%	-2.5%	-1.7M	31.3M	-1.9M	1.05	32.14	10,439	11,008	70,777	86,517
2014-10-16	$85.39	$87.50	24.3%	6.6%	25.8%	63.2%	23.7%	6.4%	-0.9%	2.5M	-120.9M	-1.9M	0.38	20.32	9,645	3,629	71,589	88,419
2014-10-17	$88.18	$87.50	22.5%	6.2%	28.4%	52.6%	22.0%	3.2%	-2.1%	13.2M	-264.7M	-1.9M	0.76	23.81	3,730	2,831	76,036	89,691
2014-10-20	$88.60	$87.50	19.8%	6.1%	28.4%	37.2%	21.6%	3.4%	-0.0%	9.6M	-256.4M	-1.8M	1.12	18.14	6,885	7,706	71,021	81,084
2014-10-21	$90.95	$87.50	18.1%	5.8%	29.3%	27.5%	21.0%	3.1%	0.9%	13.1M	-354.4M	-1.7M	0.75	21.00	6,761	5,093	73,445	84,455
2014-10-22	$89.77	$87.50	18.4%	5.8%	29.1%	29.3%	20.7%	2.5%	0.4%	13.6M	-314.6M	-1.8M	0.82	19.30	6,721	5,494	75,612	85,633
2014-10-23	$90.50	$87.50	18.4%	5.8%	27.8%	29.2%	20.6%	1.9%	-0.3%	14.9M	-348.8M	-1.8M	0.85	17.82	5,510	4,666	77,062	86,789
2014-10-24	$91.63	$87.50	18.4%	5.8%	28.0%	28.9%	20.6%	3.1%	-0.4%	13.3M	-376.4M	-1.8M	0.68	19.94	10,162	6,949	77,579	87,458
2014-10-27	$92.13	$87.50	18.5%	5.8%	28.0%	29.5%	21.1%	3.2%	0.5%	15.3M	-392.1M	-1.8M	0.57	18.08	1,778	1,011	78,421	86,819
2014-10-28	$92.64	$87.50	17.6%	5.8%	27.9%	24.4%	22.8%	4.2%	0.8%	16.2M	-420.5M	-1.8M	1.09	13.72	4,264	4,665	79,150	87,103
2014-10-29	$93.00	$87.50	17.6%	5.8%	26.9%	24.8%	22.0%	2.8%	0.7%	16.5M	-444.2M	-1.8M	1.09	16.32	6,318	6,906	81,377	88,839
2014-10-30	$93.75	$87.50	17.5%	5.7%	26.9%	24.2%	22.5%	4.4%	0.8%	15.4M	-480.3M	-1.7M	0.96	15.38	6,460	6,186	82,480	91,071
2014-10-31	$94.91	$87.50	17.2%	5.6%	26.9%	22.2%	21.5%	2.0%	0.8%	15.0M	-535.0M	-1.6M	0.85	15.15	10,543	8,990	83,827	91,952