UNH Options History — July 2021

In July 2021, UNH traded between $404.12 and $420.78. ATM implied volatility averaged 19.5%, placing in the 8.6% IV rank vs the trailing year. The 30-day expected move averaged 5.6%. IV traded above realized volatility by 4.2% (HV 20d: 15.3%). Max pain ranged from $390.00 to $400.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 10 of 21 days. Put/call ratio averaged 0.73.

Notable Days

2021-07-15: Highest Volume — 26,627 contracts
2021-07-19: Largest IV spike — 12.2% change
2021-07-08: Highest IV Rank — 19.2%
2021-07-01: Largest Expected Move — 6.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$413.04	$404.12	$420.78	$404.12	$412.36
Max Pain	$399.52	$390.00	$400.00	$400.00	$400.00
ATM IV	19.5%	17.4%	21.9%	21.2%	18.1%
Expected Move	5.6%	4.9%	6.6%	6.6%	5.0%
HV 20d	15.3%	13.3%	17.6%	13.9%	16.8%
HV 60d	15.3%	14.2%	16.4%	16.2%	15.0%
IV Rank	8.6%	0.0%	19.2%	15.8%	2.8%
IV Percentile	7.9%	0.0%	21.0%	15.1%	2.0%
Term Structure	0.1%	-1.2%	1.5%	1.5%	0.6%
VWIV	20.0%	17.4%	23.2%	23.2%	17.6%
Skew 25d	2.8%	1.0%	5.1%	4.0%	2.8%
Skew 10d	5.8%	2.0%	9.4%	4.2%	7.5%
Call IV 25d	18.4%	16.0%	21.5%	20.3%	16.6%
Put IV 25d	21.3%	18.7%	24.3%	24.3%	19.3%
Bid-Ask Spread %	39.56	24.25	53.84	24.25	45.40
Gamma HHI	0.14	0.07	0.37	0.07	0.18
Net GEX	61.9M	16.7M	119.3M	51.5M	52.1M
Net DEX	-1.05B	-1.50B	-729.1M	-837.6M	-784.3M
Net VEX	-7.8M	-8.6M	-7.2M	-7.7M	-8.1M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.73	0.34	1.93	0.49	0.97
Total Volume	12,252.667	4,101	26,627	15,465	6,704
Total OI	152,322.286	141,914	169,446	146,099	158,563

Daily Data (21 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
2021-07-01	$404.12	$400.00	21.2%	6.6%	13.9%	15.8%	23.2%	4.0%	1.5%	51.5M	-837.6M	-7.7M	0.49	24.25	10,372	5,093	68,808	77,291
2021-07-02	$409.48	$400.00	19.7%	6.1%	14.3%	9.0%	21.6%	2.5%	-0.6%	119.3M	-1.07B	-7.6M	0.36	27.41	10,274	3,664	71,948	80,127
2021-07-06	$409.67	$390.00	21.1%	6.1%	13.3%	15.7%	21.4%	2.7%	-0.2%	56.5M	-1.02B	-7.4M	0.60	26.02	6,310	3,785	67,501	75,371
2021-07-07	$412.12	$400.00	20.4%	6.0%	13.3%	12.6%	21.1%	3.5%	1.1%	70.5M	-1.15B	-7.3M	0.68	38.59	4,523	3,083	69,838	77,128
2021-07-08	$409.43	$400.00	21.9%	6.2%	13.6%	19.2%	22.0%	1.6%	-1.1%	65.3M	-1.00B	-7.6M	0.35	39.94	5,625	1,979	70,833	77,951
2021-07-09	$411.96	$400.00	20.1%	5.9%	13.7%	10.9%	21.3%	4.0%	-1.2%	104.3M	-1.17B	-7.3M	0.47	44.38	6,652	3,094	72,966	78,249
2021-07-12	$415.54	$400.00	20.8%	5.7%	13.3%	14.1%	21.2%	1.0%	-1.1%	71.6M	-1.26B	-7.2M	0.61	25.92	7,565	4,619	70,352	75,953
2021-07-13	$418.94	$400.00	21.0%	5.7%	13.5%	15.3%	20.5%	2.8%	-0.6%	77.7M	-1.37B	-7.3M	0.39	26.12	15,053	5,877	72,196	77,881
2021-07-14	$414.10	$400.00	20.3%	5.7%	14.3%	12.0%	20.2%	1.7%	-0.1%	67.8M	-1.20B	-7.9M	1.04	25.48	12,331	12,797	76,487	79,751
2021-07-15	$419.51	$400.00	18.0%	5.2%	14.3%	1.6%	18.8%	2.6%	-0.2%	93.7M	-1.45B	-7.9M	0.66	47.38	16,041	10,586	80,155	87,547
2021-07-16	$420.78	$400.00	19.2%	5.3%	14.3%	7.0%	19.6%	2.5%	-0.8%	116.8M	-1.50B	-8.1M	0.53	52.60	14,319	7,639	80,789	88,657
2021-07-19	$407.99	$400.00	21.6%	6.1%	17.6%	17.6%	22.4%	3.7%	-0.2%	27.3M	-762.6M	-8.6M	1.12	34.94	6,254	7,020	68,475	73,439
2021-07-20	$412.37	$400.00	19.1%	5.5%	17.1%	6.7%	21.6%	2.9%	0.8%	38.1M	-935.0M	-8.3M	1.93	35.35	4,042	7,810	70,623	75,856
2021-07-21	$413.29	$400.00	18.3%	5.2%	17.1%	2.8%	19.3%	2.5%	0.9%	37.8M	-920.3M	-8.5M	0.60	48.61	4,663	2,778	71,604	81,899
2021-07-22	$415.26	$400.00	18.1%	5.2%	16.7%	1.9%	18.1%	3.0%	0.2%	47.0M	-1.01B	-8.0M	0.89	40.86	3,082	2,738	71,180	83,441
2021-07-23	$417.59	$400.00	17.4%	4.9%	16.6%	0.0%	17.4%	2.7%	1.5%	93.6M	-1.12B	-7.9M	0.34	46.93	10,906	3,721	71,785	84,527
2021-07-26	$412.79	$400.00	18.3%	5.2%	17.0%	3.6%	17.9%	5.1%	-0.3%	29.4M	-913.0M	-7.9M	0.81	45.08	6,046	4,879	67,304	81,416
2021-07-27	$414.34	$400.00	18.5%	5.2%	16.9%	4.8%	18.4%	3.3%	1.5%	31.8M	-923.6M	-7.9M	0.70	48.52	2,418	1,683	67,920	82,809
2021-07-28	$409.96	$400.00	18.1%	5.3%	17.1%	3.0%	18.4%	2.2%	0.2%	16.7M	-729.1M	-8.1M	0.90	53.06	3,719	3,340	68,389	85,908
2021-07-29	$412.21	$400.00	18.2%	5.0%	17.2%	3.6%	17.4%	2.3%	0.6%	30.2M	-811.7M	-8.0M	0.89	53.84	2,237	1,985	68,970	86,881
2021-07-30	$412.36	$400.00	18.1%	5.0%	16.8%	2.8%	17.6%	2.8%	0.6%	52.1M	-784.3M	-8.1M	0.97	45.40	3,395	3,309	69,921	88,642