UNH Options History — January 2018

In January 2018, UNH traded between $220.99 and $248.12. ATM implied volatility averaged 18.9%, placing in the 61.5% IV rank vs the trailing year. The 30-day expected move averaged 5.6%. IV traded above realized volatility by 2.9% (HV 20d: 15.9%). Max pain ranged from $210.00 to $240.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 0.85.

Notable Days

2018-01-16: Highest Volume — 33,723 contracts
2018-01-30: Largest IV spike — 19.4% change
2018-01-30: Highest IV Rank — 100.0%
2018-01-30: Largest Expected Move — 7.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$234.94	$220.99	$248.12	$220.99	$236.95
Max Pain	$224.17	$210.00	$240.00	$210.00	$240.00
ATM IV	18.9%	15.3%	23.0%	20.5%	21.1%
Expected Move	5.6%	4.4%	7.2%	6.7%	6.9%
HV 20d	15.9%	10.9%	24.4%	12.7%	24.3%
HV 60d	17.4%	15.3%	19.1%	18.6%	18.6%
IV Rank	61.5%	28.9%	100.0%	73.1%	82.5%
IV Percentile	75.3%	34.9%	100.0%	92.5%	98.4%
Term Structure	-0.3%	-1.2%	1.0%	-0.3%	0.6%
VWIV	19.8%	15.9%	25.3%	24.9%	24.0%
Skew 25d	2.2%	1.7%	2.9%	2.3%	1.7%
Skew 10d	5.0%	2.0%	7.3%	5.6%	2.0%
Call IV 25d	18.3%	15.0%	22.1%	19.6%	21.1%
Put IV 25d	20.5%	17.4%	24.5%	21.9%	22.8%
Bid-Ask Spread %	32.87	14.05	52.23	30.66	25.99
Gamma HHI	0.18	0.11	0.26	0.15	0.12
Net GEX	31.3M	15.5M	61.4M	16.8M	15.5M
Net DEX	-820.7M	-1.57B	-371.9M	-539.2M	-372.7M
Net VEX	-2.7M	-3.2M	-2.3M	-2.7M	-3.2M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.85	0.38	1.27	1.27	0.74
Total Volume	15,348.857	7,823	33,723	7,823	14,874
Total OI	152,993.905	90,869	197,899	169,818	115,754

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
2018-01-02	$220.99	$210.00	20.5%	6.7%	12.7%	73.1%	24.9%	2.3%	-0.3%	16.8M	-539.2M	-2.7M	1.27	30.66	3,448	4,375	63,790	106,028
2018-01-03	$223.61	$210.00	20.1%	6.7%	11.3%	71.0%	23.9%	2.0%	-0.4%	23.9M	-645.0M	-2.7M	0.60	26.41	8,527	5,107	64,701	106,958
2018-01-04	$224.40	$220.00	20.1%	5.8%	10.9%	71.2%	20.3%	2.0%	-0.6%	30.6M	-721.1M	-2.8M	1.06	41.53	4,476	4,728	69,072	107,891
2018-01-05	$228.58	$220.00	20.2%	5.6%	12.5%	72.1%	19.2%	2.0%	-0.6%	30.1M	-919.7M	-2.8M	0.98	50.43	7,985	7,840	70,130	108,797
2018-01-08	$224.66	$220.00	20.3%	5.9%	14.2%	73.1%	19.7%	2.4%	0.5%	27.5M	-732.6M	-2.8M	0.70	51.78	6,962	4,879	70,250	107,924
2018-01-09	$225.93	$220.00	20.6%	5.6%	13.2%	75.8%	20.9%	2.1%	-1.1%	31.5M	-783.0M	-2.9M	0.90	45.56	5,309	4,780	72,273	109,472
2018-01-10	$223.90	$220.00	20.5%	5.9%	13.6%	74.9%	20.5%	2.1%	-0.1%	24.5M	-691.0M	-2.8M	0.85	38.63	4,432	3,771	72,948	110,632
2018-01-11	$225.25	$220.00	20.7%	5.6%	13.7%	76.9%	20.2%	2.2%	-1.2%	28.1M	-752.5M	-2.8M	0.79	38.34	5,274	4,156	74,022	111,279
2018-01-12	$228.21	$220.00	20.4%	5.7%	14.2%	74.8%	21.1%	2.8%	-1.2%	35.7M	-915.1M	-2.8M	0.70	52.23	13,400	9,399	75,696	112,144
2018-01-16	$233.70	$220.00	17.5%	5.1%	15.4%	47.4%	17.1%	2.7%	-0.6%	61.4M	-1.21B	-2.4M	0.50	35.37	22,426	11,297	77,254	114,163
2018-01-17	$238.54	$220.00	15.3%	4.4%	16.6%	28.9%	15.9%	2.5%	0.1%	52.4M	-1.43B	-2.3M	0.55	24.11	13,184	7,245	77,441	116,188
2018-01-18	$243.36	$220.00	16.8%	4.8%	17.6%	44.3%	17.1%	2.7%	-0.7%	34.1M	-1.57B	-2.4M	0.38	14.05	21,703	8,162	78,873	117,336
2018-01-19	$243.16	$220.00	16.4%	4.8%	17.6%	40.9%	16.9%	2.9%	-0.9%	36.4M	-1.49B	-2.4M	0.77	20.89	10,217	7,826	78,561	119,338
2018-01-22	$243.56	$220.00	16.0%	4.6%	17.6%	36.1%	16.8%	1.9%	0.2%	28.7M	-618.1M	-2.5M	1.27	15.60	5,169	6,580	42,415	48,454
2018-01-23	$245.49	$227.50	16.7%	4.9%	17.3%	43.9%	17.7%	1.9%	-0.1%	28.6M	-675.7M	-2.5M	0.80	19.83	7,655	6,134	43,832	50,587
2018-01-24	$245.10	$230.00	16.3%	4.8%	16.8%	38.9%	17.7%	1.9%	0.1%	37.1M	-686.6M	-2.7M	0.76	24.89	6,353	4,856	46,911	52,130
2018-01-25	$245.17	$230.00	17.2%	5.1%	16.7%	48.4%	17.5%	1.9%	-0.1%	39.5M	-673.0M	-2.8M	1.16	23.01	7,013	8,100	47,694	53,026
2018-01-26	$248.12	$240.00	17.1%	5.0%	16.9%	47.7%	18.1%	2.4%	0.5%	31.8M	-760.4M	-2.8M	1.07	42.44	5,723	6,134	50,379	56,909
2018-01-29	$247.92	$240.00	19.2%	5.9%	17.0%	70.1%	21.4%	2.2%	1.0%	26.8M	-682.3M	-2.9M	1.05	39.87	4,445	4,669	48,939	55,741
2018-01-30	$237.07	$240.00	23.0%	7.2%	24.4%	100.0%	25.3%	2.4%	-0.6%	15.5M	-371.9M	-3.1M	0.90	28.74	12,482	11,231	50,122	56,818
2018-01-31	$236.95	$240.00	21.1%	6.9%	24.3%	82.5%	24.0%	1.7%	0.6%	15.5M	-372.7M	-3.2M	0.74	25.99	8,558	6,316	54,153	61,601