UNH Options History — November 2014

In November 2014, UNH traded between $93.64 and $98.63. ATM implied volatility averaged 17.0%, placing in the 20.8% IV rank vs the trailing year. The 30-day expected move averaged 5.5%. IV traded below realized volatility by 3.0% (HV 20d: 19.9%). Max pain ranged from $87.50 to $90.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 6 of 19 days. Put/call ratio averaged 0.71.

Notable Days

2014-11-21: Highest Volume — 26,646 contracts
2014-11-07: Largest IV spike — 9.0% change
2014-11-07: Highest IV Rank — 31.6%
2014-11-07: Largest Expected Move — 5.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$96.26	$93.64	$98.63	$94.96	$98.63
Max Pain	$88.42	$87.50	$90.00	$87.50	$90.00
ATM IV	17.0%	15.6%	18.8%	18.3%	16.1%
Expected Move	5.5%	5.4%	5.8%	5.6%	5.4%
HV 20d	19.9%	16.2%	26.3%	26.3%	16.3%
HV 60d	20.1%	19.1%	20.6%	19.3%	20.5%
IV Rank	20.8%	12.8%	31.6%	28.3%	15.9%
IV Percentile	27.6%	15.9%	50.4%	40.9%	21.0%
Term Structure	-0.1%	-0.8%	0.6%	-0.0%	0.5%
VWIV	20.1%	18.4%	22.5%	20.1%	18.4%
Skew 25d	2.7%	1.4%	3.7%	2.6%	2.1%
Skew 10d	5.9%	1.9%	8.6%	4.2%	4.1%
Call IV 25d	16.4%	15.1%	18.5%	17.7%	15.8%
Put IV 25d	19.1%	17.5%	20.5%	20.3%	17.9%
Bid-Ask Spread %	15.54	12.72	21.81	16.87	15.52
Gamma HHI	0.14	0.12	0.17	0.14	0.13
Net GEX	17.0M	14.0M	20.8M	15.7M	20.8M
Net DEX	-562.2M	-698.6M	-444.1M	-523.4M	-592.1M
Net VEX	-1.6M	-1.8M	-1.4M	-1.7M	-1.6M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.71	0.27	1.38	0.97	0.44
Total Volume	11,560.368	2,068	26,646	11,989	2,068
Total OI	187,372.368	177,524	200,627	177,524	188,504

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
2014-11-03	$94.96	$87.50	18.3%	5.6%	26.3%	28.3%	20.1%	2.6%	-0.0%	15.7M	-523.4M	-1.7M	0.97	16.87	6,088	5,901	85,213	92,311
2014-11-04	$94.90	$87.50	18.1%	5.6%	25.7%	27.3%	20.9%	3.6%	0.0%	15.1M	-514.5M	-1.7M	1.02	15.28	4,984	5,088	85,651	93,342
2014-11-05	$95.76	$87.50	18.4%	5.6%	24.4%	28.9%	20.6%	3.4%	-0.5%	14.5M	-557.2M	-1.6M	1.38	15.93	4,419	6,081	86,116	93,869
2014-11-06	$96.15	$87.50	17.3%	5.6%	22.6%	22.7%	20.5%	2.3%	0.0%	14.0M	-576.3M	-1.6M	0.74	17.24	6,889	5,073	86,682	94,398
2014-11-07	$93.64	$87.50	18.8%	5.8%	25.4%	31.6%	22.5%	2.0%	-0.7%	17.6M	-444.1M	-1.8M	1.25	21.81	8,311	10,352	89,030	94,060
2014-11-10	$94.67	$87.50	17.6%	5.6%	24.2%	24.4%	20.6%	3.5%	-0.2%	17.6M	-506.3M	-1.6M	0.45	15.18	11,897	5,304	88,569	95,461
2014-11-11	$95.60	$87.50	17.2%	5.6%	23.8%	22.0%	19.7%	3.7%	-0.1%	16.1M	-550.2M	-1.6M	0.83	14.00	6,045	5,005	87,781	94,399
2014-11-12	$95.75	$87.50	16.9%	5.5%	22.3%	20.7%	19.8%	3.3%	-0.1%	20.1M	-575.2M	-1.7M	0.72	14.99	7,298	5,271	92,725	96,514
2014-11-13	$95.76	$87.50	17.1%	5.5%	19.2%	21.3%	19.7%	2.5%	-0.2%	20.1M	-573.6M	-1.6M	0.76	14.60	7,766	5,892	93,721	98,213
2014-11-14	$95.11	$87.50	17.1%	5.5%	16.9%	21.7%	20.7%	1.6%	-0.1%	18.4M	-525.6M	-1.7M	0.52	15.47	1,580	821	94,639	98,980
2014-11-17	$96.48	$87.50	16.4%	5.4%	17.4%	17.8%	19.9%	3.0%	0.6%	19.0M	-597.9M	-1.6M	0.42	14.74	8,013	3,403	94,076	97,855
2014-11-18	$98.31	$87.50	16.5%	5.5%	16.3%	18.1%	19.5%	2.4%	-0.1%	14.0M	-698.6M	-1.4M	0.56	14.24	10,281	5,719	94,665	98,189
2014-11-19	$96.86	$90.00	16.7%	5.5%	16.5%	19.3%	19.4%	2.8%	-0.3%	17.7M	-638.2M	-1.5M	0.99	15.23	4,225	4,167	97,733	100,129
2014-11-20	$96.83	$90.00	16.5%	5.6%	16.5%	18.1%	19.6%	2.9%	-0.1%	14.3M	-606.3M	-1.6M	0.64	12.72	6,012	3,873	98,471	101,545
2014-11-21	$96.69	$90.00	15.8%	5.5%	16.2%	13.9%	19.6%	2.4%	0.6%	16.1M	-607.3M	-1.6M	0.27	15.02	21,058	5,588	98,874	101,753
2014-11-24	$96.90	$90.00	16.3%	5.5%	16.2%	17.2%	20.4%	1.4%	-0.8%	15.1M	-491.2M	-1.6M	0.49	14.52	2,186	1,070	86,857	93,793
2014-11-25	$97.79	$90.00	15.6%	5.4%	16.4%	12.8%	20.9%	2.3%	-0.1%	17.4M	-541.8M	-1.5M	0.47	14.62	10,495	4,962	87,450	94,365
2014-11-26	$98.11	$90.00	15.6%	5.4%	16.3%	12.9%	18.5%	2.5%	0.4%	19.1M	-561.5M	-1.5M	0.67	17.29	3,876	2,586	89,370	94,772
2014-11-28	$98.63	$90.00	16.1%	5.4%	16.3%	15.9%	18.4%	2.1%	0.5%	20.8M	-592.1M	-1.6M	0.44	15.52	1,437	631	92,042	96,462