UNH Options History — November 2020

In November 2020, UNH traded between $310.69 and $357.07. ATM implied volatility averaged 28.5%, placing in the 12.4% IV rank vs the trailing year. The 30-day expected move averaged 8.3%. IV traded below realized volatility by 14.7% (HV 20d: 43.2%). Max pain ranged from $310.00 to $320.00. Net GEX was positive for 19 of 20 trading days. Term structure was in contango for 11 of 20 days. Put/call ratio averaged 0.83.

Notable Days

  • 2020-11-04: Highest Volume — 35,512 contracts
  • 2020-11-06: Largest IV drop — 9.1% change
  • 2020-11-03: Highest IV Rank — 22.4%
  • 2020-11-02: Largest Expected Move — 11.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$343.23$310.69$357.07$310.69$334.73
Max Pain$319.50$310.00$320.00$320.00$320.00
ATM IV28.5%25.7%36.6%35.9%27.1%
Expected Move8.3%7.4%11.2%11.2%8.2%
HV 20d43.2%29.6%46.5%29.6%41.4%
HV 60d32.4%25.4%33.5%25.4%33.0%
IV Rank12.4%8.9%22.4%21.5%10.7%
IV Percentile34.9%19.4%76.2%73.8%27.4%
Term Structure-0.2%-1.9%1.3%-0.3%-1.0%
VWIV29.5%26.1%40.0%40.0%28.2%
Skew 25d4.8%2.1%9.6%6.1%3.3%
Skew 10d9.6%5.7%19.4%14.6%5.7%
Call IV 25d26.9%23.8%33.8%33.8%25.3%
Put IV 25d31.7%28.5%40.2%39.9%28.6%
Bid-Ask Spread %56.3841.3367.3151.9255.55
Gamma HHI0.090.060.340.060.09
Net GEX33.0M-971.9K75.5M-971.9K18.8M
Net DEX-1.25B-1.86B-243.2M-243.2M-723.7M
Net VEX-5.4M-6.0M-5.0M-6.0M-5.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.830.361.590.650.73
Total Volume14,241.87,48335,51212,18312,254
Total OI185,572.85167,824206,196169,672176,004

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2020-11-02$310.69$320.0035.9%11.2%29.6%21.5%40.0%6.1%-0.3%-971.9K-243.2M-6.0M0.6551.927,3954,78876,84592,827
2020-11-03$323.10$320.0036.6%11.1%32.6%22.4%39.5%9.6%-1.5%14.6M-685.1M-5.9M0.6355.276,7104,25276,84592,827
2020-11-04$355.68$320.0033.9%10.2%46.1%19.0%37.8%6.3%-0.7%41.6M-1.84B-5.2M0.5161.0923,55411,95881,61195,605
2020-11-05$352.35$310.0031.6%8.9%46.3%16.1%31.3%5.2%-1.9%47.6M-1.76B-5.7M1.0462.7510,40810,84189,239100,829
2020-11-06$349.35$320.0028.7%8.1%46.4%12.6%29.7%3.7%0.1%30.2M-1.59B-5.6M0.7959.749,1837,23490,128105,830
2020-11-09$354.25$320.0027.4%8.0%46.5%11.0%27.7%4.9%0.6%41.6M-1.70B-5.2M1.0967.316,9917,62885,90696,295
2020-11-10$355.20$320.0028.5%8.0%46.5%12.3%29.2%6.3%-0.2%37.1M-1.72B-5.1M0.4559.149,5254,26886,77698,146
2020-11-11$352.05$320.0027.5%8.0%44.6%11.1%28.1%4.3%0.4%36.4M-1.66B-5.4M0.7355.534,9783,64391,31799,775
2020-11-12$352.84$320.0028.8%8.3%44.5%12.7%30.2%5.3%0.1%33.7M-1.68B-5.5M1.3661.447,3169,97892,319101,968
2020-11-13$357.07$320.0027.9%8.1%44.3%11.7%27.7%3.4%0.4%42.4M-1.86B-5.4M0.7456.554,3063,17793,937104,953
2020-11-16$355.94$320.0026.5%7.5%43.4%9.9%26.8%5.8%0.3%45.3M-1.79B-5.0M0.3960.378,3283,25689,86499,024
2020-11-17$351.59$320.0026.7%7.7%43.9%10.2%26.4%5.0%0.3%44.2M-1.62B-5.2M1.0758.204,0174,30894,048100,533
2020-11-18$345.28$320.0025.9%7.4%44.5%9.2%26.4%2.7%0.3%34.1M-1.39B-5.2M0.9160.044,1013,73094,437100,582
2020-11-19$337.18$320.0026.5%7.6%45.4%9.9%26.7%4.0%-0.3%28.3M-986.5M-5.2M1.4057.739,43513,19495,309102,824
2020-11-20$334.99$320.0026.7%7.8%45.3%10.1%26.7%3.7%-0.8%75.5M-842.2M-5.4M1.5960.326,83410,85798,077108,119
2020-11-23$334.60$320.0025.9%7.5%44.3%9.1%27.8%5.1%0.0%13.1M-651.4M-5.4M0.7741.336,7275,17879,30088,524
2020-11-24$336.53$320.0025.7%7.5%44.3%8.9%26.9%4.0%0.6%18.0M-750.0M-5.5M0.3944.357,7212,98381,55191,135
2020-11-25$333.38$320.0026.1%7.8%41.7%9.4%27.5%2.1%-1.1%17.4M-647.9M-5.5M1.0248.767,4327,60084,31092,238
2020-11-27$337.73$320.0026.0%7.6%41.4%9.2%26.1%4.8%1.3%41.6M-846.3M-5.4M0.3650.246,4222,32686,38495,216
2020-11-30$334.73$320.0027.1%8.2%41.4%10.7%28.2%3.3%-1.0%18.8M-723.7M-5.2M0.7355.557,0815,17384,01091,994