UNH Options History — December 2020

In December 2020, UNH traded between $334.42 and $350.21. ATM implied volatility averaged 28.4%, placing in the 12.2% IV rank vs the trailing year. The 30-day expected move averaged 8.0%. IV traded above realized volatility by 8.5% (HV 20d: 19.9%). Max pain ranged from $300.00 to $322.50. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 14 of 22 days. Put/call ratio averaged 0.79.

Notable Days

2020-12-03: Highest Volume — 67,769 contracts
2020-12-21: Largest IV spike — 8.2% change
2020-12-29: Highest IV Rank — 16.2%
2020-12-31: Largest Expected Move — 8.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$342.54	$334.42	$350.21	$340.57	$349.26
Max Pain	$313.75	$300.00	$322.50	$320.00	$320.00
ATM IV	28.4%	26.3%	31.6%	26.3%	30.2%
Expected Move	8.0%	7.5%	8.5%	7.5%	8.5%
HV 20d	19.9%	14.7%	41.0%	41.0%	14.7%
HV 60d	31.6%	30.3%	33.2%	33.1%	30.3%
IV Rank	12.2%	9.7%	16.2%	9.7%	14.5%
IV Percentile	34.0%	19.4%	53.6%	21.8%	44.8%
Term Structure	0.4%	-2.1%	2.5%	0.6%	0.0%
VWIV	28.8%	26.8%	31.2%	26.8%	30.2%
Skew 25d	4.1%	1.8%	5.5%	4.6%	5.5%
Skew 10d	8.2%	3.3%	12.6%	7.0%	11.3%
Call IV 25d	26.5%	24.6%	29.5%	25.0%	28.2%
Put IV 25d	30.6%	27.2%	34.8%	29.6%	33.7%
Bid-Ask Spread %	47.07	28.93	62.43	51.10	35.34
Gamma HHI	0.13	0.08	0.64	0.10	0.22
Net GEX	42.3M	2.4M	237.0M	30.0M	65.6M
Net DEX	-832.5M	-1.34B	-475.2M	-976.7M	-1.09B
Net VEX	-5.0M	-5.4M	-4.6M	-5.4M	-4.6M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.79	0.31	1.22	0.53	0.80
Total Volume	12,806.955	5,122	67,769	22,600	10,892
Total OI	171,715.591	146,669	207,655	180,453	160,397

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
2020-12-01	$340.57	$320.00	26.3%	7.5%	41.0%	9.7%	26.8%	4.6%	0.6%	30.0M	-976.7M	-5.4M	0.53	51.10	14,795	7,805	86,542	93,911
2020-12-02	$348.22	$322.50	26.4%	7.8%	39.6%	9.7%	27.4%	1.8%	1.1%	48.7M	-1.34B	-5.2M	0.49	46.01	11,264	5,489	89,417	95,890
2020-12-03	$347.93	$300.00	26.7%	8.2%	19.4%	10.2%	28.8%	4.3%	1.3%	54.2M	-1.33B	-5.1M	0.31	57.08	51,538	16,231	92,029	97,023
2020-12-04	$350.21	$310.00	26.9%	7.8%	19.3%	10.4%	28.3%	3.9%	2.0%	237.0M	-796.1M	-5.3M	0.56	42.95	11,122	6,190	97,684	109,971
2020-12-07	$347.17	$310.00	27.6%	7.7%	19.3%	11.3%	28.8%	3.9%	-0.8%	40.5M	-987.3M	-5.2M	0.83	62.43	3,783	3,148	81,510	92,635
2020-12-08	$348.05	$310.00	27.7%	7.9%	18.6%	11.3%	29.4%	1.8%	0.4%	41.7M	-1.02B	-5.2M	0.91	41.64	2,679	2,443	82,239	93,615
2020-12-09	$344.24	$310.00	27.1%	8.1%	18.9%	10.7%	28.5%	2.5%	1.7%	32.1M	-834.8M	-5.3M	0.63	60.48	3,695	2,340	82,753	94,380
2020-12-10	$339.79	$310.00	27.7%	8.4%	19.1%	11.4%	29.1%	3.8%	0.7%	18.6M	-652.5M	-5.2M	0.73	59.77	4,384	3,205	83,111	94,936
2020-12-11	$336.20	$310.00	28.4%	8.3%	19.3%	12.2%	29.2%	3.9%	-0.1%	9.4M	-475.2M	-5.2M	1.22	61.32	4,022	4,891	84,470	96,316
2020-12-14	$336.73	$310.00	28.3%	8.2%	18.6%	12.1%	29.0%	5.1%	1.3%	19.2M	-579.7M	-5.0M	1.00	56.01	3,778	3,780	80,494	93,960
2020-12-15	$339.86	$310.00	27.6%	7.9%	19.1%	11.2%	27.9%	4.4%	0.8%	25.3M	-677.7M	-4.9M	0.58	56.39	4,216	2,426	81,501	95,254
2020-12-16	$340.13	$310.00	27.5%	7.9%	18.8%	11.1%	27.8%	4.9%	1.3%	26.6M	-712.4M	-4.9M	0.55	57.60	5,007	2,738	82,160	96,056
2020-12-17	$341.71	$310.00	26.6%	7.5%	17.9%	10.0%	27.2%	3.2%	2.3%	32.9M	-806.0M	-4.8M	1.20	58.59	3,724	4,464	84,222	96,704
2020-12-18	$335.78	$310.00	28.1%	7.8%	16.9%	11.8%	28.8%	4.2%	2.5%	2.4M	-515.1M	-4.9M	0.64	55.48	7,741	4,975	84,439	96,883
2020-12-21	$335.79	$310.00	30.3%	8.4%	16.7%	14.6%	30.4%	5.3%	0.0%	14.5M	-580.5M	-4.8M	1.02	40.45	6,049	6,158	68,910	77,759
2020-12-22	$334.42	$320.00	30.3%	8.0%	16.8%	14.6%	29.2%	5.2%	-2.1%	3.9M	-504.9M	-4.8M	0.72	28.93	4,645	3,336	68,988	81,197
2020-12-23	$339.15	$320.00	29.2%	7.8%	17.4%	13.2%	28.1%	4.3%	-0.8%	31.5M	-705.4M	-4.8M	1.13	30.90	6,477	7,316	70,865	83,109
2020-12-24	$341.09	$320.00	29.5%	7.7%	17.1%	13.6%	28.3%	3.8%	-0.5%	40.5M	-783.5M	-4.8M	1.12	35.35	3,451	3,878	72,957	85,948
2020-12-28	$346.18	$320.00	29.7%	7.9%	17.3%	13.9%	28.5%	4.7%	-0.9%	48.6M	-999.8M	-4.6M	0.71	32.80	6,141	4,332	71,441	81,420
2020-12-29	$348.02	$320.00	31.6%	8.3%	16.9%	16.2%	29.9%	5.3%	-1.6%	55.4M	-1.03B	-4.7M	0.86	33.29	6,090	5,238	72,748	82,807
2020-12-30	$345.39	$320.00	30.9%	8.1%	16.2%	15.2%	31.2%	2.8%	-0.2%	50.9M	-913.9M	-4.7M	0.90	31.58	3,098	2,779	73,678	85,414
2020-12-31	$349.26	$320.00	30.2%	8.5%	14.7%	14.5%	30.2%	5.5%	0.0%	65.6M	-1.09B	-4.6M	0.80	35.34	6,043	4,849	74,080	86,317