UNH Options History — July 2020

In July 2020, UNH traded between $291.37 and $307.99. ATM implied volatility averaged 32.3%, placing in the 17.0% IV rank vs the trailing year. The 30-day expected move averaged 9.1%. IV traded above realized volatility by 3.4% (HV 20d: 28.8%). Max pain ranged from $290.00 to $300.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 12 of 22 days. Put/call ratio averaged 0.68.

Notable Days

2020-07-15: Highest Volume — 49,754 contracts
2020-07-09: Largest IV spike — 14.2% change
2020-07-09: Highest IV Rank — 25.9%
2020-07-09: Largest Expected Move — 11.3%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$301.76	$291.37	$307.99	$299.51	$302.07
Max Pain	$295.91	$290.00	$300.00	$290.00	$300.00
ATM IV	32.3%	27.5%	39.5%	35.2%	28.8%
Expected Move	9.1%	7.7%	11.3%	9.8%	7.7%
HV 20d	28.8%	22.6%	43.3%	43.3%	22.9%
HV 60d	33.6%	31.6%	38.2%	38.2%	31.7%
IV Rank	17.0%	11.1%	25.9%	20.6%	12.8%
IV Percentile	65.4%	47.2%	81.7%	75.8%	54.8%
Term Structure	0.1%	-1.3%	1.6%	1.5%	0.5%
VWIV	31.4%	26.0%	38.1%	34.3%	28.4%
Skew 25d	7.9%	5.4%	12.4%	10.2%	7.6%
Skew 10d	14.0%	8.5%	20.1%	20.1%	14.3%
Call IV 25d	28.6%	23.9%	34.3%	30.9%	24.7%
Put IV 25d	36.5%	30.8%	45.1%	41.1%	32.3%
Bid-Ask Spread %	52.48	44.14	69.42	50.97	51.62
Gamma HHI	0.09	0.07	0.13	0.09	0.08
Net GEX	30.2M	5.4M	63.0M	30.8M	19.5M
Net DEX	-562.3M	-1.03B	-254.7M	-548.9M	-405.7M
Net VEX	-6.8M	-7.0M	-6.6M	-7.0M	-6.8M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.68	0.23	1.16	0.63	0.78
Total Volume	16,824.545	7,319	49,754	9,153	9,841
Total OI	182,011.318	156,852	219,006	178,306	179,753

Daily Data (22 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
2020-07-01	$299.51	$290.00	35.2%	9.8%	43.3%	20.6%	34.3%	10.2%	1.5%	30.8M	-548.9M	-7.0M	0.63	50.97	5,626	3,527	87,636	90,670
2020-07-02	$298.60	$290.00	34.2%	9.8%	41.1%	19.5%	34.3%	8.8%	0.6%	24.8M	-523.1M	-6.9M	0.58	47.93	4,884	2,857	89,096	91,428
2020-07-06	$302.01	$290.00	34.7%	10.0%	36.2%	20.1%	33.2%	8.3%	0.5%	29.7M	-593.9M	-6.7M	0.71	48.88	8,862	6,334	85,820	88,313
2020-07-07	$297.59	$290.00	35.8%	10.0%	36.4%	21.4%	36.2%	8.5%	0.0%	29.4M	-512.6M	-6.8M	1.16	53.89	3,818	4,418	89,286	89,007
2020-07-08	$298.14	$290.00	34.6%	9.9%	36.4%	19.9%	31.7%	10.3%	-0.5%	29.1M	-509.7M	-6.7M	0.96	62.12	3,801	3,638	90,320	91,444
2020-07-09	$291.63	$290.00	39.5%	11.3%	37.0%	25.9%	37.2%	12.4%	-0.6%	8.0M	-254.7M	-6.7M	0.49	52.52	13,851	6,813	91,270	93,792
2020-07-10	$291.37	$290.00	39.1%	10.9%	24.5%	25.5%	38.1%	10.8%	-0.1%	5.4M	-286.2M	-6.7M	0.86	46.75	8,398	7,200	98,770	95,739
2020-07-13	$301.03	$290.00	38.3%	10.6%	26.8%	24.5%	35.9%	7.9%	-1.0%	42.8M	-689.1M	-6.7M	0.23	59.26	20,308	4,586	95,481	91,210
2020-07-14	$307.99	$290.00	36.2%	10.1%	27.7%	21.8%	36.8%	7.8%	-1.1%	61.2M	-1.03B	-6.8M	0.66	55.17	29,419	19,500	100,253	92,485
2020-07-15	$303.23	$300.00	33.2%	9.3%	27.1%	18.2%	32.1%	8.1%	-0.8%	54.6M	-739.8M	-6.7M	0.51	65.24	32,905	16,849	105,848	105,221
2020-07-16	$307.59	$300.00	31.6%	8.7%	27.4%	16.2%	30.3%	7.4%	-1.2%	63.0M	-923.9M	-6.8M	0.46	69.42	18,418	8,394	108,367	109,011
2020-07-17	$307.43	$300.00	30.2%	8.4%	27.2%	14.5%	28.9%	5.4%	-1.3%	50.9M	-903.9M	-6.7M	0.35	60.95	18,429	6,539	109,582	109,424
2020-07-20	$305.27	$300.00	29.4%	8.4%	27.1%	13.5%	29.4%	6.4%	1.5%	25.3M	-550.6M	-6.6M	0.94	46.69	7,956	7,480	78,348	78,504
2020-07-21	$304.06	$300.00	29.2%	8.3%	27.0%	13.2%	28.5%	6.2%	1.6%	22.3M	-513.8M	-6.8M	0.50	47.65	6,679	3,336	81,426	83,148
2020-07-22	$306.31	$300.00	28.1%	8.0%	26.1%	11.9%	27.3%	5.5%	1.2%	30.5M	-603.2M	-6.8M	0.33	50.54	7,281	2,429	84,453	84,403
2020-07-23	$302.17	$300.00	29.4%	8.4%	24.9%	13.6%	28.8%	6.0%	0.5%	19.5M	-480.7M	-6.8M	1.00	45.31	6,321	6,310	86,763	84,888
2020-07-24	$300.86	$300.00	28.8%	8.2%	24.6%	12.8%	28.2%	6.0%	1.1%	19.8M	-424.9M	-6.9M	0.82	48.20	7,043	5,741	87,686	86,885
2020-07-27	$299.05	$300.00	28.7%	8.1%	22.6%	12.7%	27.9%	6.9%	0.5%	12.4M	-336.2M	-6.8M	1.00	46.10	3,655	3,664	83,202	83,443
2020-07-28	$300.35	$300.00	28.0%	7.8%	22.6%	11.8%	27.4%	7.2%	1.0%	14.6M	-365.4M	-6.8M	0.71	51.98	5,948	4,211	83,898	84,626
2020-07-29	$307.44	$300.00	27.5%	7.7%	23.1%	11.1%	26.0%	6.8%	-0.1%	39.2M	-650.9M	-6.9M	0.47	49.33	10,031	4,682	87,415	87,043
2020-07-30	$304.98	$300.00	29.0%	7.9%	22.6%	13.0%	30.4%	8.4%	-0.4%	31.9M	-524.6M	-7.0M	0.87	44.14	4,360	3,798	90,409	88,483
2020-07-31	$302.07	$300.00	28.8%	7.7%	22.9%	12.8%	28.4%	7.6%	0.5%	19.5M	-405.7M	-6.8M	0.78	51.62	5,529	4,312	90,762	88,991