UNH Options History — November 2019

In November 2019, UNH traded between $250.49 and $282.74. ATM implied volatility averaged 20.5%, placing in the 14.8% IV rank vs the trailing year. The 30-day expected move averaged 5.9%. IV traded below realized volatility by 5.9% (HV 20d: 26.4%). Max pain ranged from $230.00 to $250.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 11 of 20 days. Put/call ratio averaged 0.59.

Notable Days

2019-11-15: Highest Volume — 102,903 contracts
2019-11-15: Largest IV spike — 10.8% change
2019-11-18: Highest IV Rank — 24.8%
2019-11-18: Largest Expected Move — 6.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$265.44	$250.49	$282.74	$252.94	$280.26
Max Pain	$242.50	$230.00	$250.00	$230.00	$250.00
ATM IV	20.5%	19.2%	22.8%	19.9%	19.7%
Expected Move	5.9%	5.3%	6.5%	5.6%	5.9%
HV 20d	26.4%	18.1%	34.5%	34.0%	21.9%
HV 60d	27.0%	26.4%	27.8%	27.5%	26.4%
IV Rank	14.8%	9.2%	24.8%	12.3%	11.3%
IV Percentile	23.7%	10.7%	46.0%	18.3%	14.3%
Term Structure	0.0%	-1.4%	1.5%	1.5%	0.1%
VWIV	21.4%	19.3%	23.1%	20.1%	21.4%
Skew 25d	3.2%	2.6%	4.1%	3.0%	2.7%
Skew 10d	6.3%	5.2%	8.2%	7.2%	5.2%
Call IV 25d	19.2%	17.4%	21.2%	18.6%	18.6%
Put IV 25d	22.4%	20.9%	24.6%	21.6%	21.3%
Bid-Ask Spread %	9.98	5.47	16.24	12.16	12.31
Gamma HHI	0.12	0.09	0.20	0.12	0.13
Net GEX	78.3M	46.3M	115.1M	55.6M	100.3M
Net DEX	-1.46B	-2.20B	-768.3M	-1.02B	-2.04B
Net VEX	-6.4M	-7.0M	-5.9M	-6.5M	-6.6M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.59	0.35	0.94	0.76	0.73
Total Volume	24,582.1	7,866	102,903	12,945	12,959
Total OI	238,566.9	220,308	266,083	234,828	260,890

Daily Data (20 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
2019-11-01	$252.94	$230.00	19.9%	5.6%	34.0%	12.3%	20.1%	3.0%	1.5%	55.6M	-1.02B	-6.5M	0.76	12.16	7,369	5,576	127,968	106,860
2019-11-04	$251.88	$240.00	20.9%	6.3%	34.1%	16.5%	23.1%	2.9%	0.3%	51.5M	-869.3M	-6.3M	0.75	14.21	5,382	4,058	121,327	98,981
2019-11-05	$250.49	$240.00	21.3%	6.3%	34.2%	18.2%	22.4%	2.9%	0.4%	46.3M	-768.3M	-6.4M	0.70	8.78	5,271	3,714	121,559	100,877
2019-11-06	$250.95	$240.00	20.1%	5.9%	34.2%	13.2%	21.1%	2.7%	0.4%	48.1M	-792.4M	-6.2M	0.47	8.81	5,870	2,739	122,378	101,679
2019-11-07	$255.96	$240.00	19.8%	5.7%	34.5%	11.9%	21.5%	3.5%	0.2%	69.8M	-1.09B	-6.2M	0.64	5.47	12,776	8,192	123,009	102,226
2019-11-08	$257.15	$240.00	20.1%	5.7%	34.3%	13.2%	20.6%	4.0%	-0.2%	96.6M	-1.16B	-6.2M	0.43	8.69	11,956	5,109	125,454	103,530
2019-11-11	$253.47	$240.00	19.7%	5.8%	34.3%	11.3%	20.6%	3.6%	0.6%	53.7M	-857.5M	-5.9M	0.48	7.64	13,201	6,287	122,208	99,805
2019-11-12	$255.16	$240.00	19.3%	5.3%	20.4%	9.4%	19.3%	3.9%	-0.8%	63.8M	-985.0M	-6.0M	0.35	5.83	5,812	2,054	126,167	102,092
2019-11-13	$254.57	$240.00	19.7%	5.9%	20.1%	11.2%	20.2%	3.6%	1.1%	62.1M	-943.4M	-6.0M	0.44	5.99	8,793	3,827	127,815	102,310
2019-11-14	$255.86	$240.00	20.3%	5.5%	18.1%	14.2%	19.9%	4.1%	-1.4%	74.3M	-1.04B	-6.0M	0.65	9.24	6,346	4,095	130,485	103,578
2019-11-15	$269.04	$240.00	22.5%	6.3%	24.7%	23.8%	22.9%	3.5%	-0.1%	78.1M	-1.86B	-6.1M	0.52	15.06	67,766	35,137	131,966	104,857
2019-11-18	$273.34	$240.00	22.8%	6.5%	24.7%	24.8%	22.6%	3.4%	-0.7%	90.1M	-1.74B	-6.1M	0.37	11.01	55,294	20,494	128,502	97,154
2019-11-19	$274.65	$240.00	20.4%	5.8%	23.5%	14.3%	21.3%	2.7%	-0.5%	100.8M	-1.88B	-6.8M	0.43	6.29	18,712	8,056	147,105	103,992
2019-11-20	$275.17	$240.00	21.7%	6.2%	22.8%	20.3%	23.1%	3.3%	-0.7%	99.3M	-1.85B	-7.0M	0.68	10.11	15,066	10,257	148,066	106,475
2019-11-21	$276.99	$250.00	22.0%	6.3%	21.8%	21.3%	22.9%	3.5%	-0.4%	115.1M	-1.99B	-7.0M	0.44	8.48	17,502	7,632	151,580	109,942
2019-11-22	$276.32	$250.00	21.3%	6.1%	22.0%	18.2%	22.2%	3.5%	-0.3%	89.9M	-1.93B	-7.0M	0.68	12.20	13,419	9,136	154,123	111,960
2019-11-25	$282.74	$250.00	19.7%	5.7%	22.8%	11.4%	20.9%	2.7%	0.3%	92.1M	-2.20B	-6.5M	0.94	9.96	15,739	14,866	137,699	104,025
2019-11-26	$281.30	$250.00	19.2%	5.6%	22.6%	9.2%	20.3%	2.6%	0.3%	88.3M	-2.10B	-6.7M	0.74	11.02	11,343	8,374	141,396	107,604
2019-11-27	$280.60	$250.00	19.6%	5.8%	22.7%	10.8%	20.5%	2.6%	0.0%	90.6M	-2.03B	-6.8M	0.59	16.24	13,489	7,974	143,475	110,219
2019-11-29	$280.26	$250.00	19.7%	5.9%	21.9%	11.3%	21.4%	2.7%	0.1%	100.3M	-2.04B	-6.6M	0.73	12.31	7,499	5,460	147,345	113,545