UNH Options History — November 2022

In November 2022, UNH traded between $502.68 and $554.15. ATM implied volatility averaged 24.1%, placing in the 29.9% IV rank vs the trailing year. The 30-day expected move averaged 6.9%. IV traded below realized volatility by 1.9% (HV 20d: 26.0%). Max pain ranged from $510.00 to $520.00. Net GEX was positive for 17 of 21 trading days. Term structure was in contango for 11 of 21 days. Put/call ratio averaged 1.01.

Notable Days

  • 2022-11-11: Highest Volume — 54,738 contracts
  • 2022-11-11: Largest IV spike — 11.5% change
  • 2022-11-11: Highest IV Rank — 53.5%
  • 2022-11-11: Largest Expected Move — 7.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$531.90$502.68$554.15$547.24$543.11
Max Pain$519.05$510.00$520.00$520.00$520.00
ATM IV24.1%20.3%27.0%24.9%20.3%
Expected Move6.9%5.8%7.7%7.0%5.8%
HV 20d26.0%18.1%32.2%21.8%32.2%
HV 60d22.2%19.3%25.1%19.4%25.1%
IV Rank29.9%0.0%53.5%40.7%0.0%
IV Percentile27.7%0.0%58.3%37.3%0.0%
Term Structure-0.1%-2.6%1.1%0.4%-2.6%
VWIV25.0%20.5%28.8%26.7%20.5%
Skew 25d4.2%3.4%5.5%5.2%3.4%
Skew 10d8.5%6.1%11.2%10.6%7.9%
Call IV 25d22.4%19.4%25.1%22.6%19.4%
Put IV 25d26.7%22.8%30.4%27.7%22.8%
Bid-Ask Spread %39.4619.0448.4130.3743.78
Gamma HHI0.070.050.130.070.13
Net GEX48.0M-53.6M128.5M75.4M125.3M
Net DEX-1.16B-2.10B436.1M-1.76B-1.83B
Net VEX-11.1M-11.4M-10.5M-11.1M-11.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.010.421.711.240.71
Total Volume25,506.38114,66754,73817,44017,284
Total OI215,525.238198,390240,789202,189216,641

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2022-11-01$547.24$520.0024.9%7.0%21.8%40.7%26.7%5.2%0.4%75.4M-1.76B-11.1M1.2430.377,8009,64096,397105,792
2022-11-02$544.89$520.0025.7%6.9%21.7%46.1%26.4%5.4%-0.8%75.4M-1.71B-10.9M1.4241.016,2418,84197,828107,837
2022-11-03$545.98$520.0024.9%7.0%20.8%40.8%27.6%5.5%0.2%80.4M-1.77B-10.7M1.6647.126,46110,73798,399109,041
2022-11-04$537.18$520.0025.7%7.2%18.1%45.6%25.4%5.0%-1.0%33.4M-1.21B-11.2M0.9248.4112,80611,810100,395112,294
2022-11-07$544.88$520.0024.8%7.3%18.2%39.2%25.9%5.0%0.7%65.6M-1.69B-10.5M0.7946.4111,1578,79894,697103,693
2022-11-08$554.15$520.0024.5%7.2%18.5%37.4%28.8%4.8%0.5%92.7M-2.10B-11.0M1.4840.4310,47015,52998,317106,686
2022-11-09$540.78$520.0025.6%7.5%21.3%44.9%26.0%4.3%0.7%49.2M-1.47B-11.2M1.2142.558,51810,334100,945112,793
2022-11-10$544.51$520.0024.2%7.2%20.7%35.4%25.3%3.9%1.1%66.9M-1.69B-11.0M1.2745.368,57210,901102,212116,172
2022-11-11$520.45$520.0027.0%7.7%26.8%53.5%27.4%5.2%-0.0%-31.9M-325.7M-11.4M1.0244.4327,10827,630103,337118,139
2022-11-14$518.17$520.0024.7%7.1%26.2%38.8%27.2%4.3%0.0%-25.8M-373.5M-11.3M1.2244.0015,64719,041102,808116,634
2022-11-15$502.68$520.0025.4%7.3%28.2%40.6%25.5%3.8%-0.3%-53.6M436.1M-11.0M0.7137.6020,78114,792106,281118,869
2022-11-16$510.61$510.0024.3%7.0%28.9%33.3%25.0%3.8%-0.3%-21.0M-109.0M-11.1M0.8144.9114,41411,624111,856121,448
2022-11-17$517.37$510.0023.7%6.8%29.3%28.9%23.7%3.6%0.4%9.1M-576.9M-11.0M0.5245.4626,79414,009112,848123,617
2022-11-18$530.47$520.0023.2%6.6%29.0%19.3%23.9%3.4%0.1%88.7M-1.57B-11.1M0.7641.7426,83120,436115,528125,261
2022-11-21$516.33$520.0024.8%7.1%29.8%29.8%24.3%3.5%-0.6%3.5M-526.5M-11.1M0.5632.5420,10311,26694,673104,130
2022-11-22$523.41$520.0022.6%6.5%30.4%13.3%22.1%3.7%-0.2%56.4M-927.3M-11.2M0.6734.2011,3457,645105,596107,666
2022-11-23$528.25$520.0022.2%6.4%30.4%9.6%23.9%3.4%-0.4%89.9M-1.17B-11.4M1.3230.979,38712,380107,841109,044
2022-11-25$538.70$520.0021.8%6.3%31.3%6.7%21.6%3.7%-0.4%128.5M-1.80B-11.1M0.4225.0710,5904,461109,180112,061
2022-11-28$532.76$520.0022.7%6.8%30.9%13.1%24.2%3.8%0.2%64.2M-1.22B-11.4M1.7119.045,4169,251102,629103,995
2022-11-29$527.95$520.0022.4%6.6%30.8%11.0%23.5%4.2%0.3%35.6M-960.1M-11.0M0.8343.3410,2568,528104,539107,911
2022-11-30$543.11$520.0020.3%5.8%32.2%0.0%20.5%3.4%-2.6%125.3M-1.83B-11.0M0.7143.7810,1337,151106,994109,647