UNH Options History — March 2021

In March 2021, UNH traded between $333.28 and $378.67. ATM implied volatility averaged 26.1%, placing in the 3.9% IV rank vs the trailing year. The 30-day expected move averaged 7.7%. IV traded above realized volatility by 6.0% (HV 20d: 20.1%). Max pain ranged from $320.00 to $340.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 13 of 23 days. Put/call ratio averaged 0.83.

Notable Days

  • 2021-03-11: Highest Volume — 29,682 contracts
  • 2021-03-05: Largest IV drop — 7.6% change
  • 2021-03-04: Highest IV Rank — 7.3%
  • 2021-03-04: Largest Expected Move — 8.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$357.43$333.28$378.67$335.30$372.79
Max Pain$330.43$320.00$340.00$330.00$340.00
ATM IV26.1%24.5%28.9%26.4%24.6%
Expected Move7.7%6.8%8.8%7.3%7.5%
HV 20d20.1%18.5%21.4%19.4%21.0%
HV 60d21.2%19.5%22.0%20.1%21.9%
IV Rank3.9%2.1%7.3%4.0%2.7%
IV Percentile9.7%1.2%34.5%8.7%1.6%
Term Structure0.6%-2.3%3.2%2.1%0.2%
VWIV27.7%24.8%31.7%29.1%26.3%
Skew 25d4.5%2.8%8.1%3.7%4.5%
Skew 10d9.0%4.5%14.5%7.5%8.3%
Call IV 25d23.8%20.4%25.9%25.9%22.0%
Put IV 25d28.3%25.4%33.2%29.6%26.5%
Bid-Ask Spread %53.2441.0467.9741.0446.34
Gamma HHI0.120.070.580.080.10
Net GEX49.6M18.3M135.5M29.5M34.4M
Net DEX-857.5M-1.29B-342.5M-442.8M-955.6M
Net VEX-6.1M-6.4M-5.9M-6.1M-6.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.830.381.611.571.61
Total Volume10,977.4783,91829,68214,0564,728
Total OI132,696.522113,370148,459142,015124,359

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2021-03-01$335.30$330.0026.4%7.3%19.4%4.0%29.1%3.7%2.1%29.5M-442.8M-6.1M1.5741.045,4668,59070,69871,317
2021-03-02$336.23$330.0026.5%7.3%19.4%4.2%25.2%4.5%-0.6%27.6M-469.8M-6.1M1.2446.044,0315,01272,32773,307
2021-03-03$335.01$330.0028.0%8.0%18.8%6.1%29.2%4.8%-2.3%24.8M-426.5M-6.1M1.4246.122,7533,91772,91773,475
2021-03-04$333.28$320.0028.9%8.8%18.8%7.3%31.1%8.1%-0.6%18.3M-342.5M-6.2M0.4663.128,3793,82873,05174,110
2021-03-05$347.07$320.0026.7%8.2%21.4%4.4%30.2%5.4%-0.4%64.0M-932.9M-6.1M0.4464.9513,2645,87874,39974,060
2021-03-08$352.37$320.0027.8%8.3%20.6%5.8%30.6%4.0%1.7%53.8M-965.5M-6.0M0.5955.788,3904,95070,01762,408
2021-03-09$352.73$320.0027.1%8.5%20.6%4.9%31.7%4.1%2.1%53.6M-936.4M-5.9M0.7849.408,6566,77469,93262,685
2021-03-10$350.61$330.0026.4%8.2%20.2%4.0%29.7%3.9%2.0%50.4M-826.0M-5.9M0.9659.744,6374,45369,73563,873
2021-03-11$353.63$330.0025.0%7.8%20.0%2.1%27.7%3.5%3.2%54.3M-935.6M-5.9M0.3861.7521,5848,09870,66465,998
2021-03-12$355.94$330.0025.1%7.5%20.0%2.4%27.9%2.8%2.1%59.8M-834.8M-6.1M0.7958.993,6362,87368,62869,258
2021-03-15$352.29$330.0027.0%7.9%19.5%4.7%28.7%4.8%0.8%48.6M-695.4M-6.2M0.7748.034,0423,11168,44065,464
2021-03-16$354.54$330.0025.9%7.6%18.5%3.4%27.3%4.3%-0.6%58.4M-799.0M-6.0M0.8161.922,1661,75268,76266,981
2021-03-17$352.71$330.0027.1%7.8%18.8%4.9%27.8%4.4%-0.6%54.8M-721.6M-5.9M0.6167.974,2252,57169,19967,513
2021-03-18$361.97$330.0027.3%7.8%20.3%5.1%27.0%4.7%0.6%65.7M-1.03B-6.0M0.5364.167,3363,90269,40168,561
2021-03-19$369.91$330.0025.4%7.2%20.4%3.7%25.7%3.8%1.2%135.5M-1.29B-5.9M0.3854.8916,4256,18070,28370,407
2021-03-22$367.20$330.0024.7%6.8%20.9%2.4%24.8%3.1%-0.4%41.4M-921.4M-6.0M0.7445.404,3743,25258,17155,199
2021-03-23$368.23$330.0025.0%7.0%20.9%2.9%25.5%3.6%-0.1%42.3M-935.5M-6.2M0.4542.417,6323,41159,91657,807
2021-03-24$371.62$330.0024.8%7.1%21.0%3.0%25.9%7.2%1.7%46.9M-1.03B-6.1M0.8750.395,4394,72260,62558,583
2021-03-25$371.11$340.0024.7%7.3%20.2%2.7%26.6%3.1%1.1%44.3M-1.02B-6.3M1.3047.053,4954,54263,19560,046
2021-03-26$374.06$340.0024.9%7.3%19.9%3.2%25.5%5.5%-0.0%54.0M-1.10B-6.4M0.5251.796,4693,34263,82161,650
2021-03-29$378.67$340.0025.4%7.7%20.0%4.3%26.3%4.4%0.2%42.4M-1.11B-6.4M1.2248.203,8624,70361,13857,350
2021-03-30$373.69$340.0024.5%7.7%21.1%2.4%26.9%4.5%-0.2%36.5M-980.7M-6.4M0.6649.043,4032,22962,43059,860
2021-03-31$372.79$340.0024.6%7.5%21.0%2.7%26.3%4.5%0.2%34.4M-955.6M-6.3M1.6146.341,8142,91463,56360,796