UNH Options History — April 2020

In April 2020, UNH traded between $228.20 and $296.71. ATM implied volatility averaged 47.3%, placing in the 35.5% IV rank vs the trailing year. The 30-day expected move averaged 13.4%. IV traded below realized volatility by 42.5% (HV 20d: 89.8%). Max pain ranged from $220.00 to $260.00. Net GEX was positive for 17 of 21 trading days. Term structure was in contango for 7 of 21 days. Put/call ratio averaged 0.70.

Notable Days

  • 2020-04-14: Highest Volume — 41,581 contracts
  • 2020-04-06: Largest IV drop — 18.1% change
  • 2020-04-01: Highest IV Rank — 63.3%
  • 2020-04-01: Largest Expected Move — 21.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$271.84$228.20$296.71$236.65$291.24
Max Pain$246.19$220.00$260.00$260.00$260.00
ATM IV47.3%31.7%69.8%69.8%31.7%
Expected Move13.4%8.5%21.1%21.1%8.5%
HV 20d89.8%49.4%122.7%116.1%49.4%
HV 60d81.0%77.9%82.3%77.9%81.9%
IV Rank35.5%16.3%63.3%63.3%16.3%
IV Percentile88.4%80.6%96.8%96.8%80.6%
Term Structure-0.8%-3.8%1.4%-2.2%0.5%
VWIV46.7%29.0%74.1%74.1%29.0%
Skew 25d14.4%9.0%24.2%24.2%9.1%
Skew 10d29.3%12.1%55.1%55.1%19.6%
Call IV 25d40.3%26.7%59.1%59.1%26.7%
Put IV 25d54.8%35.8%83.3%83.3%35.8%
Bid-Ask Spread %39.3418.6857.0246.8351.57
Gamma HHI0.080.060.230.060.10
Net GEX17.7M-14.1M56.0M-6.7M34.8M
Net DEX-444.2M-1.46B649.2M412.7M-762.2M
Net VEX-6.6M-7.1M-5.7M-6.2M-7.1M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.700.311.741.160.70
Total Volume16,640.8577,56441,5818,6298,954
Total OI184,513.524160,961207,391186,205187,137

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2020-04-01$236.65$260.0069.8%21.1%116.1%63.3%74.1%24.2%-2.2%-6.7M412.7M-6.2M1.1646.833,9984,63186,91099,295
2020-04-02$237.86$220.0064.6%17.5%116.0%56.9%62.5%23.8%-1.9%-7.4M423.5M-6.2M1.7423.864,4207,67188,468100,255
2020-04-03$228.20$220.0062.6%17.7%116.5%54.4%59.0%20.2%-2.1%-14.1M649.2M-5.7M1.0718.686,0216,44489,764102,637
2020-04-06$244.78$220.0051.2%14.7%119.8%40.4%49.5%19.4%0.4%-1.9M246.3M-6.0M0.4141.658,8053,57486,35295,081
2020-04-07$250.16$220.0054.5%14.7%120.0%44.4%50.3%18.5%-3.6%4.1M53.8M-6.3M0.8543.385,2014,43890,38596,457
2020-04-08$267.34$220.0055.7%14.9%122.7%45.9%54.5%18.0%-3.8%13.3M-469.1M-6.8M0.4136.0619,0697,73192,09898,583
2020-04-09$263.74$240.0051.5%14.8%118.0%40.8%53.4%14.8%-0.2%13.4M-373.8M-6.7M0.7435.347,9635,91594,752101,106
2020-04-13$262.72$240.0053.9%15.5%117.4%43.7%49.3%15.3%-1.5%10.5M-283.6M-6.5M0.5123.677,9664,08990,79196,470
2020-04-14$269.96$240.0047.1%13.4%108.1%35.3%49.0%13.4%-0.3%18.6M-544.0M-6.4M0.9529.5821,28020,30194,74797,990
2020-04-15$281.54$250.0045.5%13.1%107.4%33.4%44.9%14.7%-1.4%29.9M-955.8M-6.4M0.4950.4427,33013,29999,39399,488
2020-04-16$296.71$250.0042.1%12.0%88.9%29.1%43.9%11.8%1.4%56.0M-1.46B-6.7M0.3954.3523,3909,089102,407101,822
2020-04-17$290.14$250.0043.5%12.4%89.1%30.9%43.9%11.8%1.0%25.7M-1.19B-6.8M0.4148.0319,0507,897102,832104,559
2020-04-20$282.23$260.0045.3%13.0%89.7%33.1%45.0%12.9%0.2%15.6M-510.5M-6.9M0.5735.117,0334,03480,62880,333
2020-04-21$276.21$260.0048.5%14.0%75.2%37.1%49.3%13.5%-1.8%12.6M-388.2M-7.0M1.0941.454,5514,96884,28182,082
2020-04-22$278.07$260.0045.0%13.0%61.7%32.7%44.8%12.1%-1.0%12.4M-419.6M-7.0M0.3837.925,4642,10085,74584,842
2020-04-23$287.43$260.0040.8%11.7%54.0%27.5%40.2%11.0%-0.4%27.7M-684.6M-7.0M0.7241.236,2784,52287,63385,659
2020-04-24$291.51$260.0038.8%10.6%53.8%25.1%39.6%10.4%-0.3%36.6M-807.4M-6.9M0.3133.6110,8403,35489,43787,341
2020-04-27$294.46$260.0034.7%9.6%53.6%20.1%34.1%9.9%-0.0%28.4M-797.1M-6.7M0.3457.0212,9844,45584,84283,093
2020-04-28$289.32$260.0034.0%9.2%54.3%19.2%34.6%9.0%0.4%30.5M-733.6M-7.0M0.3335.546,6642,19292,90385,780
2020-04-29$288.45$260.0031.9%9.2%54.3%16.6%30.0%9.3%0.0%31.4M-731.4M-6.7M1.1340.835,4086,08593,66886,738
2020-04-30$291.24$260.0031.7%8.5%49.4%16.3%29.0%9.1%0.5%34.8M-762.2M-7.1M0.7051.575,2573,69796,39490,743