UNH Options History — February 2020

In February 2020, UNH traded between $249.41 and $305.76. ATM implied volatility averaged 31.7%, placing in the 76.0% IV rank vs the trailing year. The 30-day expected move averaged 9.2%. IV traded below realized volatility by 4.8% (HV 20d: 36.5%). Max pain ranged from $270.00 to $290.00. Net GEX was positive for 10 of 19 trading days. Term structure was in contango for 1 of 19 days. Put/call ratio averaged 0.87.

Notable Days

  • 2020-02-12: Highest Volume — 53,351 contracts
  • 2020-02-28: Largest IV spike — 25.7% change
  • 2020-02-03: Highest IV Rank — 100.0%
  • 2020-02-28: Largest Expected Move — 17.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$286.21$249.41$305.76$274.10$249.41
Max Pain$278.95$270.00$290.00$290.00$280.00
ATM IV31.7%25.9%54.5%33.1%54.5%
Expected Move9.2%7.1%17.2%9.8%17.2%
HV 20d36.5%27.1%47.3%27.1%47.3%
HV 60d25.8%21.8%31.7%21.8%31.7%
IV Rank76.0%54.1%100.0%100.0%100.0%
IV Percentile93.0%82.5%100.0%100.0%100.0%
Term Structure-1.0%-3.2%0.0%-0.2%-3.2%
VWIV32.2%25.5%54.9%35.8%54.9%
Skew 25d6.5%3.8%14.7%7.5%14.7%
Skew 10d13.8%8.9%27.2%18.1%27.2%
Call IV 25d29.1%24.4%48.2%30.5%48.2%
Put IV 25d35.6%29.3%63.0%38.0%63.0%
Bid-Ask Spread %10.054.2038.2712.5238.27
Gamma HHI0.090.050.180.050.07
Net GEX12.8M-38.2M72.5M-13.4M-19.8M
Net DEX-517.3M-1.57B856.9M354.3M856.9M
Net VEX-7.0M-7.7M-6.3M-7.4M-7.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.870.342.032.030.97
Total Volume27,094.26312,25853,35133,68433,010
Total OI229,774.421179,424255,547223,020226,330

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2020-02-03$274.10$290.0033.1%9.8%27.1%100.0%35.8%7.5%-0.2%-13.4M354.3M-7.4M2.0312.5211,10922,575105,503117,517
2020-02-04$281.07$290.0028.4%7.3%28.8%70.6%26.1%6.4%-1.1%-1.6M31.6M-7.7M0.839.7716,82214,044111,024130,762
2020-02-05$295.65$290.0028.2%7.1%34.2%69.4%25.7%5.2%-0.4%29.4M-1.11B-7.6M0.666.0226,56217,409111,266130,185
2020-02-06$291.36$270.0027.9%8.0%33.7%67.6%30.1%4.3%-0.3%1.4M-708.9M-7.7M0.9712.3813,29212,871113,410134,300
2020-02-07$289.96$270.0027.9%7.9%33.6%66.4%28.9%3.8%0.0%-38.2M-583.9M-7.7M0.825.476,7295,529118,387137,160
2020-02-10$286.92$270.0028.1%7.8%33.7%67.8%29.2%5.1%-0.7%-8.9M-261.2M-7.4M1.067.796,4746,871106,461124,907
2020-02-11$290.27$270.0029.0%8.1%32.2%73.6%29.9%4.9%-0.5%6.8M-525.7M-7.4M0.805.169,1257,300108,166127,758
2020-02-12$303.55$270.0027.8%7.8%35.8%65.9%27.7%4.8%-0.7%72.5M-1.55B-7.0M0.349.1839,93813,413110,652128,978
2020-02-13$302.69$280.0027.8%7.8%33.7%66.2%25.5%5.2%-0.8%71.9M-1.42B-6.9M0.407.0115,2326,114113,129132,476
2020-02-14$298.63$280.0026.7%7.4%33.9%58.7%26.5%5.1%-1.3%39.5M-1.14B-6.9M0.885.459,0357,940116,810133,638
2020-02-18$302.41$280.0027.0%7.7%34.1%60.7%26.6%4.7%-1.1%46.1M-1.39B-6.3M0.576.659,7355,579103,771124,755
2020-02-19$305.76$280.0025.9%7.4%34.2%54.1%26.1%5.5%-0.3%58.1M-1.57B-6.3M0.526.3016,7068,750105,993126,182
2020-02-20$300.81$280.0026.7%7.7%34.8%58.9%28.6%5.0%-0.5%44.3M-1.32B-6.3M1.076.517,9958,574110,444128,106
2020-02-21$301.18$280.0027.9%8.1%34.7%65.0%29.7%5.2%-0.8%48.5M-1.37B-6.4M0.804.2011,4399,178110,779130,998
2020-02-24$279.36$280.0033.4%10.0%43.1%100.0%36.2%7.8%-1.0%-16.0M32.0M-6.6M0.9812.5620,76820,29680,25699,168
2020-02-25$264.48$280.0039.7%12.1%46.2%100.0%41.4%8.6%-1.6%-23.6M528.0M-6.8M1.0212.5218,08818,47987,078108,061
2020-02-26$263.50$280.0039.6%11.7%46.0%99.3%40.8%8.0%-1.7%-27.2M577.7M-6.9M0.969.5110,86110,40991,236112,867
2020-02-27$256.88$280.0043.4%13.5%46.5%100.0%42.8%11.7%-2.1%-27.3M731.6M-6.8M0.8213.7720,12316,41793,501113,700
2020-02-28$249.41$280.0054.5%17.2%47.3%100.0%54.9%14.7%-3.2%-19.8M856.9M-7.2M0.9738.2716,77016,240106,001120,329