UNH Options History — December 2021

In December 2021, UNH traded between $447.06 and $506.56. ATM implied volatility averaged 23.2%, placing in the 39.4% IV rank vs the trailing year. The 30-day expected move averaged 7.1%. IV traded above realized volatility by 3.1% (HV 20d: 20.1%). Max pain ranged from $390.00 to $440.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 14 of 22 days. Put/call ratio averaged 0.66.

Notable Days

2021-12-02: Highest Volume — 61,774 contracts
2021-12-06: Largest IV drop — 10.2% change
2021-12-03: Highest IV Rank — 69.9%
2021-12-03: Largest Expected Move — 8.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$481.91	$447.06	$506.56	$447.49	$504.64
Max Pain	$398.18	$390.00	$440.00	$420.00	$400.00
ATM IV	23.2%	21.0%	28.4%	25.6%	21.8%
Expected Move	7.1%	6.4%	8.5%	8.0%	6.5%
HV 20d	20.1%	15.7%	22.0%	19.9%	16.1%
HV 60d	21.1%	20.0%	21.9%	21.9%	20.0%
IV Rank	39.4%	26.2%	69.9%	53.2%	30.9%
IV Percentile	56.9%	41.7%	88.9%	69.0%	49.2%
Term Structure	0.7%	-0.8%	3.4%	0.7%	0.7%
VWIV	25.3%	22.6%	29.6%	27.5%	23.5%
Skew 25d	4.3%	3.0%	6.8%	4.5%	4.7%
Skew 10d	8.7%	4.8%	14.3%	13.5%	6.8%
Call IV 25d	21.4%	18.6%	26.4%	24.2%	19.8%
Put IV 25d	25.7%	23.1%	32.1%	28.7%	24.5%
Bid-Ask Spread %	55.10	48.10	67.81	51.95	54.92
Gamma HHI	0.14	0.06	0.79	0.07	0.11
Net GEX	83.8M	39.2M	357.7M	48.5M	77.7M
Net DEX	-2.27B	-3.21B	-615.9M	-1.40B	-2.50B
Net VEX	-6.9M	-8.0M	-6.5M	-7.5M	-6.6M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.66	0.34	1.58	0.69	1.04
Total Volume	17,190.909	9,381	61,774	13,941	9,381
Total OI	172,554.182	148,535	209,067	173,758	165,843

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
2021-12-01	$447.49	$420.00	25.6%	8.0%	19.9%	53.2%	27.5%	4.5%	0.7%	48.5M	-1.40B	-7.5M	0.69	51.95	8,253	5,688	82,373	91,385
2021-12-02	$447.06	$420.00	26.5%	7.6%	19.3%	58.9%	26.9%	4.3%	-0.6%	43.7M	-1.31B	-7.9M	0.52	50.30	40,649	21,125	83,626	92,421
2021-12-03	$447.46	$440.00	28.4%	8.5%	19.3%	69.9%	29.6%	5.7%	0.5%	41.9M	-615.9M	-8.0M	0.52	48.10	14,710	7,667	97,870	111,197
2021-12-06	$459.30	$390.00	25.5%	7.9%	21.5%	52.8%	27.5%	6.8%	-0.7%	61.5M	-1.72B	-7.6M	0.42	54.68	12,064	5,098	79,634	93,639
2021-12-07	$463.76	$390.00	23.7%	7.4%	21.2%	42.5%	27.6%	4.0%	-0.8%	72.4M	-1.92B	-7.2M	0.41	58.93	11,101	4,568	80,456	94,770
2021-12-08	$469.11	$390.00	22.9%	7.1%	21.5%	37.3%	24.2%	4.6%	0.8%	81.2M	-2.15B	-7.1M	0.34	55.36	13,443	4,510	81,616	95,245
2021-12-09	$473.38	$390.00	21.9%	7.2%	21.3%	31.7%	25.4%	4.5%	0.2%	94.1M	-2.40B	-6.8M	0.55	55.05	10,109	5,576	84,383	95,988
2021-12-10	$477.78	$390.00	21.0%	6.7%	21.5%	26.2%	24.5%	3.8%	0.5%	108.8M	-2.61B	-6.5M	0.42	55.59	11,028	4,630	85,084	96,542
2021-12-13	$479.63	$390.00	22.0%	6.9%	21.5%	32.4%	25.4%	5.7%	2.3%	92.3M	-2.59B	-6.7M	0.43	56.20	9,727	4,181	83,993	93,666
2021-12-14	$479.18	$390.00	22.5%	7.1%	20.1%	35.1%	26.1%	5.1%	2.4%	95.0M	-2.58B	-6.7M	0.72	56.88	14,438	10,336	84,603	94,650
2021-12-15	$492.57	$390.00	22.6%	7.3%	21.8%	35.9%	25.9%	4.9%	3.4%	97.1M	-3.10B	-6.8M	0.48	67.81	12,752	6,137	87,989	98,353
2021-12-16	$494.73	$390.00	22.6%	7.2%	21.7%	35.7%	24.8%	3.9%	3.2%	102.3M	-3.21B	-6.6M	0.41	61.16	12,715	5,248	88,819	100,430
2021-12-17	$490.01	$390.00	22.4%	6.9%	22.0%	34.4%	24.3%	3.4%	2.6%	357.7M	-3.03B	-6.7M	0.46	58.55	13,628	6,214	89,775	101,037
2021-12-20	$483.05	$390.00	23.2%	6.8%	21.3%	39.0%	25.2%	4.5%	0.6%	39.2M	-1.90B	-6.9M	0.63	56.71	9,497	5,950	67,225	81,310
2021-12-21	$485.86	$390.00	24.2%	7.0%	21.2%	45.0%	24.9%	3.6%	-0.6%	50.3M	-2.05B	-6.9M	0.71	51.16	7,468	5,277	70,893	83,409
2021-12-22	$494.25	$400.00	23.2%	6.7%	21.2%	39.5%	23.6%	4.0%	-0.7%	58.9M	-2.30B	-6.7M	0.70	52.14	6,520	4,582	72,065	84,432
2021-12-23	$497.83	$400.00	22.5%	6.5%	21.2%	35.1%	22.6%	3.1%	-0.5%	57.0M	-2.43B	-6.5M	0.79	54.67	6,383	5,073	73,810	85,346
2021-12-27	$498.93	$400.00	22.1%	6.6%	19.3%	33.0%	23.8%	3.9%	1.5%	61.1M	-2.38B	-6.5M	0.78	51.60	6,961	5,433	72,913	83,781
2021-12-28	$503.68	$400.00	22.9%	6.8%	18.2%	37.4%	24.9%	3.8%	-0.2%	64.1M	-2.52B	-6.5M	0.95	55.77	5,215	4,944	74,857	85,454
2021-12-29	$506.56	$400.00	22.0%	6.5%	15.7%	32.1%	23.8%	3.4%	0.2%	70.3M	-2.60B	-6.5M	0.88	51.38	5,240	4,615	75,519	86,605
2021-12-30	$505.66	$400.00	21.5%	6.4%	16.0%	29.3%	25.0%	3.0%	-0.3%	69.3M	-2.55B	-6.6M	1.58	53.35	3,908	6,158	76,019	87,167
2021-12-31	$504.64	$400.00	21.8%	6.5%	16.1%	30.9%	23.5%	4.7%	0.7%	77.7M	-2.50B	-6.6M	1.04	54.92	4,608	4,773	76,476	89,367