UNH Options History — April 2021

In April 2021, UNH traded between $364.12 and $401.86. ATM implied volatility averaged 21.5%, placing in the 4.9% IV rank vs the trailing year. The 30-day expected move averaged 6.0%. IV traded above realized volatility by 1.5% (HV 20d: 20.0%). Max pain ranged from $340.00 to $380.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 13 of 21 days. Put/call ratio averaged 0.77.

Notable Days

  • 2021-04-15: Highest Volume — 42,770 contracts
  • 2021-04-15: Largest IV drop — 19.0% change
  • 2021-04-20: Highest IV Rank — 11.4%
  • 2021-04-01: Largest Expected Move — 7.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$385.04$364.12$401.86$367.07$398.68
Max Pain$366.79$340.00$380.00$340.00$380.00
ATM IV21.5%18.2%23.7%23.3%21.0%
Expected Move6.0%5.4%7.2%7.2%5.8%
HV 20d20.0%17.7%22.5%22.0%19.6%
HV 60d21.1%20.0%22.3%22.0%20.3%
IV Rank4.9%0.0%11.4%0.0%11.4%
IV Percentile1.1%0.0%4.0%0.0%4.0%
Term Structure0.2%-1.7%1.7%-0.6%0.2%
VWIV21.6%19.1%26.0%26.0%20.1%
Skew 25d2.9%0.6%5.8%2.8%4.1%
Skew 10d5.7%2.1%8.8%7.7%5.1%
Call IV 25d20.2%15.9%23.7%23.7%18.2%
Put IV 25d23.0%20.9%26.5%26.5%22.3%
Bid-Ask Spread %51.2638.5867.5349.3845.87
Gamma HHI0.130.080.350.090.21
Net GEX61.1M18.9M135.5M25.4M135.5M
Net DEX-1.20B-1.69B-663.0M-738.2M-1.54B
Net VEX-6.7M-7.6M-6.1M-6.4M-7.4M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.770.291.291.110.58
Total Volume13,324.0954,03942,7708,10714,228
Total OI138,854.238123,585158,010126,151156,276

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2021-04-01$367.07$340.0023.3%7.2%22.0%0.0%26.0%2.8%-0.6%25.4M-738.2M-6.4M1.1149.383,8424,26563,76162,390
2021-04-05$370.71$360.0023.2%6.6%17.7%0.0%23.4%2.5%-0.9%27.8M-870.9M-6.2M0.5358.902,6351,40462,04461,541
2021-04-06$364.12$360.0023.7%6.7%18.6%1.3%23.7%4.5%0.1%20.5M-663.0M-6.1M0.7760.005,5694,29762,94462,097
2021-04-07$365.16$360.0023.1%6.3%18.6%0.0%24.7%2.6%1.4%20.2M-665.0M-6.3M0.8162.632,8222,28764,35363,900
2021-04-08$365.29$360.0023.2%6.3%18.4%0.2%23.3%4.5%-0.0%18.9M-684.0M-6.2M0.9146.995,2844,82065,32664,708
2021-04-09$375.09$360.0022.2%6.2%20.3%0.0%22.4%1.2%0.5%44.0M-1.07B-6.3M0.4967.5310,0454,92867,61966,601
2021-04-12$376.77$360.0023.7%6.4%20.2%4.5%23.0%5.5%-1.7%45.7M-1.08B-6.2M1.1353.296,2817,09666,91963,244
2021-04-13$375.50$360.0023.1%6.4%19.8%2.8%23.2%2.2%-0.1%41.1M-1.03B-6.2M1.2255.717,3318,94468,44567,399
2021-04-14$375.83$360.0022.5%6.3%19.7%1.0%22.8%2.6%-1.0%44.2M-1.05B-6.2M1.2154.167,9879,66470,25769,585
2021-04-15$389.16$360.0018.2%5.6%22.5%0.0%19.8%2.5%1.6%90.4M-1.57B-6.3M0.5859.7227,13015,64074,86476,019
2021-04-16$390.78$370.0019.2%5.5%21.1%3.1%19.1%4.0%-0.7%110.4M-1.65B-6.5M0.2953.4317,5525,11979,09078,920
2021-04-19$390.45$370.0020.4%5.8%20.0%7.2%20.4%2.3%1.2%54.3M-1.16B-6.6M1.0941.464,1404,50765,13061,195
2021-04-20$395.71$370.0021.7%6.2%20.0%11.4%21.2%2.0%1.7%57.5M-1.31B-6.7M0.3738.5812,7924,72866,92164,681
2021-04-21$398.85$370.0020.2%5.8%20.1%6.5%20.8%2.1%0.2%66.8M-1.43B-7.1M0.7948.775,3044,17970,29267,161
2021-04-22$397.50$370.0020.6%5.9%20.1%9.0%20.7%2.4%0.1%63.3M-1.40B-7.0M0.4347.849,9624,30471,15069,552
2021-04-23$400.82$372.5020.1%5.7%20.1%7.7%20.0%2.1%1.2%106.7M-1.62B-7.3M0.4746.269,1854,35077,75070,580
2021-04-26$396.06$380.0020.2%5.7%20.8%7.9%20.0%5.8%0.1%65.1M-1.31B-7.3M1.0038.694,6374,64972,53468,178
2021-04-27$395.74$380.0020.4%5.7%20.5%8.8%19.6%0.6%-0.0%59.4M-1.29B-7.3M0.3950.599,4753,70473,48570,704
2021-04-28$394.78$380.0020.7%5.6%19.8%10.3%20.1%2.2%0.3%79.7M-1.31B-7.6M1.2950.892,5343,25879,76573,117
2021-04-29$401.86$380.0020.4%5.4%20.4%9.1%19.6%1.8%0.1%107.4M-1.69B-7.4M0.7245.845,1963,73280,80074,642
2021-04-30$398.68$380.0021.0%5.8%19.6%11.4%20.1%4.1%0.2%135.5M-1.54B-7.4M0.5845.879,0265,20281,05375,223