UNH Options History — March 2017

In March 2017, UNH traded between $163.55 and $171.86. ATM implied volatility averaged 16.7%, placing in the 28.8% IV rank vs the trailing year. The 30-day expected move averaged 5.1%. IV traded below realized volatility by 1.0% (HV 20d: 17.7%). Max pain ranged from $160.00 to $165.00. Net GEX was positive for 16 of 23 trading days. Term structure was in contango for 12 of 23 days. Put/call ratio averaged 1.37.

Notable Days

2017-03-07: Highest Volume — 20,150 contracts
2017-03-24: Largest IV spike — 12.6% change
2017-03-24: Highest IV Rank — 71.7%
2017-03-24: Largest Expected Move — 6.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$167.61	$163.55	$171.86	$168.15	$164.17
Max Pain	$164.35	$160.00	$165.00	$160.00	$165.00
ATM IV	16.7%	14.2%	22.1%	16.0%	18.4%
Expected Move	5.1%	4.1%	6.4%	4.6%	5.4%
HV 20d	17.7%	12.1%	22.1%	21.7%	12.8%
HV 60d	15.2%	14.8%	15.9%	15.8%	15.6%
IV Rank	28.8%	8.3%	71.7%	22.5%	42.0%
IV Percentile	31.1%	2.4%	85.7%	16.7%	50.4%
Term Structure	0.3%	-4.5%	3.1%	0.2%	-1.2%
VWIV	18.1%	15.8%	22.4%	17.3%	19.2%
Skew 25d	2.7%	0.7%	10.4%	2.1%	2.1%
Skew 10d	5.3%	1.5%	8.6%	5.8%	5.8%
Call IV 25d	15.8%	13.6%	20.8%	14.9%	18.3%
Put IV 25d	18.5%	14.9%	31.2%	17.0%	20.4%
Bid-Ask Spread %	22.23	9.96	65.32	14.21	38.62
Gamma HHI	0.16	0.11	0.42	0.17	0.11
Net GEX	11.8M	-11.4M	46.2M	23.6M	-6.5M
Net DEX	-234.6M	-432.4M	20.9M	-432.4M	-10.8M
Net VEX	-3.4M	-3.9M	-3.1M	-3.3M	-3.7M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	1.37	0.36	2.93	1.23	1.13
Total Volume	11,612.826	8,046	20,150	13,406	10,490
Total OI	148,935.087	127,500	164,567	152,645	151,836

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
2017-03-01	$168.15	$160.00	16.0%	4.6%	21.7%	22.5%	17.3%	2.1%	0.2%	23.6M	-432.4M	-3.3M	1.23	14.21	6,004	7,402	59,553	93,092
2017-03-02	$167.45	$160.00	14.9%	4.3%	21.8%	14.3%	15.8%	2.3%	0.5%	18.4M	-385.3M	-3.3M	2.12	9.96	3,109	6,597	59,770	94,898
2017-03-03	$167.94	$160.00	14.7%	4.1%	21.3%	12.2%	16.3%	2.0%	0.2%	16.1M	-416.1M	-3.3M	1.07	14.84	4,532	4,850	60,844	95,722
2017-03-06	$169.02	$165.00	15.4%	4.9%	21.3%	17.6%	17.4%	1.7%	-0.2%	22.6M	-415.3M	-3.2M	1.24	19.81	4,982	6,166	58,485	92,818
2017-03-07	$168.13	$165.00	14.3%	4.8%	21.1%	9.2%	17.2%	2.5%	0.2%	22.1M	-375.9M	-3.3M	0.36	14.48	14,859	5,291	60,263	94,660
2017-03-08	$167.72	$165.00	14.3%	4.8%	21.1%	9.3%	18.2%	2.2%	0.1%	15.7M	-250.0M	-3.3M	1.14	16.56	4,675	5,308	53,938	96,485
2017-03-09	$168.24	$165.00	15.1%	4.9%	21.1%	15.5%	18.5%	2.0%	1.4%	19.0M	-286.4M	-3.1M	1.41	14.69	4,188	5,917	54,128	97,476
2017-03-10	$169.78	$165.00	14.2%	4.7%	21.3%	8.3%	17.1%	0.7%	-0.2%	16.1M	-354.8M	-3.1M	1.30	16.36	4,842	6,299	54,061	99,156
2017-03-13	$170.17	$165.00	14.4%	4.8%	21.3%	10.2%	17.2%	1.2%	2.5%	24.8M	-348.1M	-3.3M	1.52	18.45	4,469	6,806	54,255	96,421
2017-03-14	$169.12	$165.00	14.6%	4.9%	21.4%	11.5%	18.3%	1.6%	3.0%	22.6M	-293.8M	-3.3M	2.93	17.82	3,730	10,945	54,844	98,924
2017-03-15	$171.86	$165.00	15.2%	5.0%	22.0%	16.5%	17.4%	1.7%	2.5%	22.5M	-399.0M	-3.4M	1.13	19.23	5,469	6,154	55,331	104,642
2017-03-16	$170.97	$165.00	15.7%	4.9%	22.0%	20.1%	16.8%	1.4%	2.6%	24.2M	-368.9M	-3.4M	1.39	13.15	4,371	6,082	56,582	106,003
2017-03-17	$169.85	$165.00	15.0%	4.7%	22.1%	15.1%	16.8%	1.4%	3.1%	46.2M	-293.1M	-3.4M	0.98	15.91	6,465	6,314	56,803	107,764
2017-03-20	$168.23	$165.00	16.2%	4.8%	14.8%	24.5%	17.2%	2.8%	1.0%	9.0M	-189.3M	-3.4M	1.94	17.41	3,616	7,026	48,914	78,586
2017-03-21	$167.81	$165.00	17.9%	5.2%	12.3%	37.9%	18.3%	2.9%	-0.1%	4.5M	-171.9M	-3.4M	1.28	16.34	3,527	4,519	49,852	81,301
2017-03-22	$167.00	$165.00	18.4%	5.3%	12.6%	41.8%	19.0%	2.7%	-0.2%	2.6M	-127.6M	-3.6M	1.24	12.58	3,703	4,606	51,277	82,552
2017-03-23	$165.04	$165.00	19.6%	5.6%	13.0%	51.9%	19.3%	3.0%	-0.5%	-2.5M	-63.4M	-3.5M	1.02	26.54	6,826	6,943	52,358	83,705
2017-03-24	$165.34	$165.00	22.1%	6.4%	13.0%	71.7%	22.4%	10.4%	-1.0%	-11.4M	-67.1M	-3.8M	1.71	65.32	4,724	8,100	55,845	88,084
2017-03-27	$164.47	$165.00	20.0%	5.9%	12.1%	54.8%	20.6%	4.6%	-0.9%	-4.0M	-26.2M	-3.9M	1.09	16.11	7,026	7,658	55,148	88,512
2017-03-28	$165.93	$165.00	19.1%	5.6%	12.5%	47.2%	19.4%	3.5%	-1.1%	-2.6M	-80.7M	-3.8M	1.80	36.29	4,168	7,497	54,802	90,205
2017-03-29	$163.55	$165.00	20.8%	5.5%	12.1%	61.7%	19.5%	2.7%	-4.5%	-5.9M	20.9M	-3.7M	1.60	39.66	4,072	6,508	55,678	90,611
2017-03-30	$165.20	$165.00	18.9%	5.4%	12.7%	46.1%	18.2%	3.5%	-0.1%	-5.2M	-61.5M	-3.7M	0.95	36.87	5,256	5,004	56,981	92,342
2017-03-31	$164.17	$165.00	18.4%	5.4%	12.8%	42.0%	19.2%	2.1%	-1.2%	-6.5M	-10.8M	-3.7M	1.13	38.62	4,923	5,567	58,769	93,067