UNH Options History — March 2022

In March 2022, UNH traded between $473.95 and $518.98. ATM implied volatility averaged 28.2%, placing in the 73.1% IV rank vs the trailing year. The 30-day expected move averaged 8.1%. IV traded above realized volatility by 0.8% (HV 20d: 27.4%). Max pain ranged from $400.00 to $510.00. Net GEX was positive for 23 of 23 trading days. Term structure was in contango for 16 of 23 days. Put/call ratio averaged 0.88.

Notable Days

2022-03-11: Highest Volume — 21,751 contracts
2022-03-09: Largest IV drop — 11.3% change
2022-03-07: Highest IV Rank — 100.0%
2022-03-08: Largest Expected Move — 10.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$497.96	$473.95	$518.98	$473.95	$513.00
Max Pain	$473.18	$400.00	$510.00	$470.00	$490.00
ATM IV	28.2%	23.8%	33.2%	28.7%	24.3%
Expected Move	8.1%	6.9%	10.1%	8.6%	7.3%
HV 20d	27.4%	21.8%	30.3%	28.5%	22.4%
HV 60d	25.0%	23.8%	25.5%	24.0%	25.3%
IV Rank	73.1%	43.5%	100.0%	88.0%	46.7%
IV Percentile	89.9%	66.7%	100.0%	96.0%	71.8%
Term Structure	0.7%	-1.1%	2.7%	1.2%	0.3%
VWIV	29.1%	24.8%	36.0%	32.0%	25.8%
Skew 25d	6.3%	4.6%	8.1%	6.7%	4.6%
Skew 10d	13.3%	8.9%	17.5%	16.0%	11.5%
Call IV 25d	25.8%	22.1%	30.6%	27.0%	23.2%
Put IV 25d	32.1%	27.5%	37.9%	33.7%	27.8%
Bid-Ask Spread %	45.35	20.71	70.55	64.22	42.06
Gamma HHI	0.07	0.05	0.14	0.06	0.08
Net GEX	41.0M	9.5M	67.9M	9.5M	53.9M
Net DEX	-1.09B	-1.58B	-559.7M	-559.7M	-1.43B
Net VEX	-7.4M	-8.4M	-7.0M	-7.2M	-8.4M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.88	0.47	1.40	1.37	0.60
Total Volume	14,219.522	8,599	21,751	10,558	10,950
Total OI	123,237	109,939	142,029	112,567	129,964

Daily Data (23 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
2022-03-01	$473.95	$470.00	28.7%	8.6%	28.5%	88.0%	32.0%	6.7%	1.2%	9.5M	-559.7M	-7.2M	1.37	64.22	4,457	6,101	49,676	62,891
2022-03-02	$485.16	$470.00	27.6%	7.9%	29.3%	79.8%	29.5%	7.4%	0.7%	30.0M	-864.9M	-7.0M	1.14	53.16	6,050	6,903	51,480	64,466
2022-03-03	$484.42	$470.00	27.6%	7.9%	27.3%	80.1%	27.8%	6.7%	1.1%	35.7M	-878.0M	-7.1M	1.16	60.88	4,430	5,156	53,042	65,634
2022-03-04	$494.62	$470.00	29.3%	8.1%	27.8%	92.7%	30.2%	7.6%	0.5%	40.8M	-1.09B	-7.3M	0.76	68.78	7,544	5,702	53,536	66,449
2022-03-07	$486.67	$470.00	32.5%	9.4%	28.3%	100.0%	34.4%	6.7%	1.8%	27.1M	-857.5M	-7.3M	1.22	64.23	5,500	6,698	52,819	64,392
2022-03-08	$474.64	$470.00	33.2%	10.1%	29.7%	100.0%	36.0%	7.2%	2.7%	15.0M	-597.4M	-7.3M	1.11	66.70	4,967	5,499	54,369	66,322
2022-03-09	$486.61	$470.00	29.4%	8.4%	30.1%	77.5%	29.1%	7.0%	2.4%	37.7M	-908.0M	-7.2M	1.40	60.38	4,036	5,642	55,137	66,853
2022-03-10	$491.11	$470.00	29.4%	8.0%	30.0%	77.3%	26.8%	5.8%	1.6%	44.2M	-1.04B	-7.1M	0.52	69.24	11,025	5,695	56,225	68,142
2022-03-11	$483.49	$480.00	30.6%	9.0%	29.2%	84.3%	30.8%	8.1%	1.6%	25.0M	-731.0M	-7.3M	0.97	70.55	11,043	10,708	55,382	69,603
2022-03-14	$487.07	$400.00	31.6%	9.1%	28.7%	90.4%	32.8%	7.4%	1.2%	30.0M	-795.0M	-7.3M	0.98	22.02	10,953	10,771	55,486	70,979
2022-03-15	$498.47	$400.00	31.5%	8.9%	29.5%	90.1%	33.1%	7.3%	-0.5%	47.4M	-1.10B	-7.6M	0.71	22.96	8,121	5,801	59,033	74,744
2022-03-16	$495.25	$400.00	30.0%	8.5%	29.7%	80.9%	32.7%	7.3%	1.3%	50.0M	-1.02B	-7.5M	0.85	30.19	9,113	7,775	60,292	76,466
2022-03-17	$505.79	$0.00	28.4%	8.1%	30.3%	71.4%	28.4%	6.3%	-0.1%	64.7M	-1.36B	-7.3M	0.73	33.10	8,858	6,433	61,527	78,148
2022-03-18	$507.29	$460.00	28.5%	7.9%	28.9%	72.2%	28.4%	5.3%	-0.2%	67.9M	-1.41B	-7.3M	0.54	20.71	11,735	6,385	62,585	79,444
2022-03-21	$506.08	$510.00	26.8%	7.6%	28.9%	61.5%	26.6%	5.6%	0.4%	36.3M	-1.16B	-7.3M	0.77	33.28	7,650	5,887	52,065	57,874
2022-03-22	$506.70	$510.00	26.6%	7.5%	27.8%	60.8%	26.9%	5.8%	-0.1%	39.9M	-1.21B	-7.3M	1.25	37.08	5,475	6,846	55,095	60,893
2022-03-23	$506.17	$510.00	27.0%	7.7%	27.7%	63.0%	27.1%	5.5%	0.2%	39.1M	-1.15B	-7.5M	0.79	34.40	6,144	4,839	54,882	60,137
2022-03-24	$513.27	$510.00	25.1%	7.5%	27.0%	51.8%	25.9%	5.6%	0.7%	52.1M	-1.35B	-7.4M	0.47	35.22	13,813	6,496	55,788	61,054
2022-03-25	$511.69	$510.00	25.9%	7.6%	22.6%	56.3%	26.2%	5.4%	-0.1%	49.7M	-1.32B	-7.8M	0.48	35.65	10,611	5,088	60,107	63,573
2022-03-28	$511.60	$490.00	26.0%	7.5%	22.5%	56.9%	29.0%	5.5%	-0.3%	41.9M	-1.29B	-7.7M	1.30	37.01	3,741	4,858	58,277	60,934
2022-03-29	$511.02	$490.00	25.8%	7.3%	22.6%	55.6%	24.8%	5.0%	-1.1%	43.3M	-1.27B	-7.7M	0.64	38.30	8,873	5,652	59,213	63,175
2022-03-30	$518.98	$490.00	23.8%	6.9%	21.8%	43.5%	24.8%	5.4%	0.5%	62.1M	-1.58B	-7.9M	0.53	42.94	11,130	5,895	61,928	64,370
2022-03-31	$513.00	$490.00	24.3%	7.3%	22.4%	46.7%	25.8%	4.6%	0.3%	53.9M	-1.43B	-8.4M	0.60	42.06	6,828	4,122	64,444	65,520