UNH Options History — January 2020

In January 2020, UNH traded between $271.86 and $300.60. ATM implied volatility averaged 23.3%, placing in the 38.6% IV rank vs the trailing year. The 30-day expected move averaged 6.6%. IV traded above realized volatility by 4.4% (HV 20d: 18.9%). Max pain ranged from $260.00 to $290.00. Net GEX was positive for 15 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 0.79.

Notable Days

  • 2020-01-15: Highest Volume — 85,048 contracts
  • 2020-01-15: Largest IV drop — 16.3% change
  • 2020-01-31: Highest IV Rank — 85.0%
  • 2020-01-31: Largest Expected Move — 8.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$291.11$271.86$300.60$291.60$271.86
Max Pain$287.14$260.00$290.00$260.00$290.00
ATM IV23.3%18.5%30.5%22.0%30.5%
Expected Move6.6%5.2%8.7%7.0%8.7%
HV 20d18.9%11.9%26.8%12.5%26.8%
HV 60d21.3%18.7%24.7%24.4%21.8%
IV Rank38.6%8.1%85.0%30.4%85.0%
IV Percentile56.7%6.0%97.2%46.8%97.2%
Term Structure0.1%-1.6%2.1%0.1%1.0%
VWIV23.7%18.3%31.1%24.8%31.1%
Skew 25d3.9%2.2%5.9%3.1%5.5%
Skew 10d8.1%4.5%13.3%6.6%13.3%
Call IV 25d21.5%17.8%28.3%20.8%28.3%
Put IV 25d25.4%20.0%33.9%23.9%33.9%
Bid-Ask Spread %7.552.3223.233.9110.61
Gamma HHI0.130.060.280.130.06
Net GEX45.9M-30.0M156.2M63.4M-30.0M
Net DEX-1.07B-2.28B635.9M-1.53B635.9M
Net VEX-6.6M-7.4M-6.0M-6.0M-7.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.790.371.460.900.96
Total Volume31,361.2389,97485,04817,98329,954
Total OI233,321.333179,799296,362229,605230,676

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2020-01-02$291.60$260.0022.0%7.0%12.5%30.4%24.8%3.1%0.1%63.4M-1.53B-6.0M0.903.919,4868,497119,897109,708
2020-01-03$289.79$260.0023.7%7.6%12.4%41.5%26.6%3.7%0.1%23.9M-1.36B-6.2M0.735.346,3964,646122,320114,247
2020-01-06$290.53$290.0023.3%6.4%12.2%38.7%22.3%3.5%-0.3%58.5M-1.43B-6.0M0.9523.2315,72515,007117,777110,635
2020-01-07$290.21$290.0023.3%6.4%11.9%38.5%22.8%3.6%-0.4%57.2M-1.42B-6.3M0.7322.945,7504,224119,490112,399
2020-01-08$296.85$290.0022.7%6.1%13.5%34.9%22.0%3.5%-0.5%80.0M-1.87B-6.0M0.654.0116,88711,021120,865113,979
2020-01-09$294.44$290.0022.1%6.3%14.1%31.3%22.0%3.4%-0.4%81.6M-1.71B-6.1M0.613.9415,7569,583125,148117,101
2020-01-10$295.07$290.0022.3%5.9%14.1%32.0%21.3%3.4%-0.8%105.2M-1.77B-6.2M0.652.3212,8028,273130,573122,415
2020-01-13$286.24$290.0025.0%6.6%17.9%49.6%25.4%4.0%-1.6%47.9M-1.12B-6.4M0.606.1422,51213,612127,080119,642
2020-01-14$286.51$290.0024.1%6.6%17.7%44.2%24.4%3.7%-1.0%53.5M-1.16B-6.6M0.603.3328,35116,910135,336126,995
2020-01-15$296.93$290.0020.2%5.5%20.4%18.9%19.7%2.9%-0.9%118.5M-2.10B-6.3M0.404.5360,77524,273146,044135,045
2020-01-16$299.94$290.0019.2%5.5%20.5%12.6%19.3%2.4%0.0%156.2M-2.28B-6.3M0.433.7130,54913,212149,678138,208
2020-01-17$298.04$290.0018.5%5.2%20.4%8.1%18.3%2.2%-0.5%90.5M-2.06B-6.4M0.373.0235,75613,258155,889140,473
2020-01-21$300.03$290.0020.4%5.8%20.5%20.0%20.9%2.9%0.0%61.7M-1.06B-6.3M0.623.0822,75414,14592,06687,733
2020-01-22$300.60$290.0020.4%5.9%20.4%20.4%20.7%3.3%-0.1%55.7M-1.09B-6.7M0.452.9712,6255,63596,70895,724
2020-01-23$299.45$290.0022.7%6.5%20.4%34.8%23.1%4.1%0.1%46.4M-985.8M-6.9M1.425.4013,66719,45599,13597,901
2020-01-24$291.87$290.0024.5%7.0%22.5%46.5%27.3%5.2%-0.2%-28.9M-386.8M-7.4M1.1710.4916,69219,520101,781108,801
2020-01-27$283.88$290.0026.4%7.6%24.4%58.7%27.3%5.9%1.6%-20.5M48.2M-7.3M0.8416.0516,48613,80895,521108,963
2020-01-28$286.25$290.0024.6%7.2%24.6%47.4%25.6%5.1%2.1%-11.5M-135.0M-7.4M0.987.9510,38110,128100,489110,730
2020-01-29$283.10$290.0025.4%7.3%24.8%52.4%25.8%5.1%1.4%-19.4M60.2M-7.4M0.998.8810,39110,243104,544114,203
2020-01-30$280.05$290.0027.3%7.8%25.0%64.4%28.0%5.4%1.4%-26.0M229.4M-7.4M1.466.6811,97817,463107,460116,369
2020-01-31$271.86$290.0030.5%8.7%26.8%85.0%31.1%5.5%1.0%-30.0M635.9M-7.2M0.9610.6115,27814,676110,194120,482