UNH Options History — January 2023

In January 2023, UNH traded between $476.07 and $517.30. ATM implied volatility averaged 24.4%, placing in the 29.8% IV rank vs the trailing year. The 30-day expected move averaged 7.1%. IV traded above realized volatility by 5.8% (HV 20d: 18.6%). Max pain ranged from $490.00 to $520.00. Net GEX was positive for 5 of 20 trading days. Term structure was in contango for 7 of 20 days. Put/call ratio averaged 0.86.

Notable Days

  • 2023-01-13: Highest Volume — 69,552 contracts
  • 2023-01-13: Largest IV drop — 14.7% change
  • 2023-01-05: Highest IV Rank — 52.9%
  • 2023-01-04: Largest Expected Move — 8.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$491.09$476.07$517.30$517.30$497.37
Max Pain$499.00$490.00$520.00$510.00$490.00
ATM IV24.4%22.0%27.6%27.2%22.7%
Expected Move7.1%6.5%8.1%8.0%6.7%
HV 20d18.6%13.9%21.7%13.9%21.7%
HV 60d23.3%22.7%23.8%23.4%23.2%
IV Rank29.8%12.4%52.9%50.5%17.4%
IV Percentile30.2%6.0%62.7%60.7%13.5%
Term Structure-0.1%-1.2%1.2%-0.1%-0.1%
VWIV25.4%22.4%28.2%27.4%24.9%
Skew 25d3.9%1.7%5.2%5.2%2.9%
Skew 10d7.3%4.4%9.4%9.4%8.2%
Call IV 25d22.6%20.5%25.8%24.4%20.7%
Put IV 25d26.5%23.0%30.1%29.6%23.7%
Bid-Ask Spread %36.0617.8954.5646.9826.12
Gamma HHI0.070.050.150.050.05
Net GEX-23.7M-101.4M41.2M-9.3M41.2M
Net DEX155.4M-472.7M850.5M-399.8M-472.7M
Net VEX-10.5M-11.2M-9.5M-11.2M-11.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.860.472.101.050.84
Total Volume28,78014,54669,55219,93530,304
Total OI210,341.25159,372253,103202,683190,521

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-01-03$517.30$510.0027.2%8.0%13.9%50.5%27.4%5.2%-0.1%-9.3M-399.8M-11.2M1.0546.989,70910,226102,409100,274
2023-01-04$503.59$510.0027.5%8.1%16.5%52.4%28.2%4.3%0.6%-47.8M244.8M-10.9M1.0550.6011,53812,160105,994104,205
2023-01-05$491.26$520.0027.6%7.8%17.7%52.9%28.0%4.3%-0.3%-67.6M722.9M-10.5M1.0828.7115,81217,073110,052106,039
2023-01-06$490.27$510.0027.1%7.4%17.3%49.5%27.2%3.9%0.1%-71.3M603.8M-10.4M1.0121.0711,89611,977115,012106,680
2023-01-09$489.77$500.0026.0%7.4%16.8%41.6%26.3%3.2%-0.0%-52.0M486.9M-10.2M0.4836.2514,1746,777109,794104,596
2023-01-10$485.88$500.0026.7%7.4%16.7%46.8%26.3%4.2%-1.1%-54.7M621.6M-10.2M0.7923.2615,00711,858115,446106,131
2023-01-11$492.74$500.0026.3%7.4%17.7%43.5%25.4%4.1%-0.3%-29.0M151.8M-10.6M0.5117.8914,0297,154120,974107,576
2023-01-12$495.83$500.0025.9%7.3%18.0%40.9%25.8%3.4%-1.0%-20.5M-15.5M-10.8M0.7735.8219,47515,058124,306109,291
2023-01-13$491.22$500.0022.1%6.5%18.1%13.3%22.4%1.7%1.2%-51.0M241.2M-10.1M0.4734.6047,45822,094130,723114,584
2023-01-17$484.46$500.0023.1%6.6%17.9%20.5%23.4%3.6%-0.4%-69.0M441.0M-9.7M0.6754.5622,14614,732126,726104,677
2023-01-18$476.07$500.0022.9%6.6%18.5%19.2%22.7%4.1%1.0%-101.4M850.5M-9.5M2.1045.9019,26140,488134,887107,914
2023-01-19$485.80$500.0022.8%6.5%20.5%18.6%23.7%3.6%0.8%-36.7M25.6M-10.0M0.5940.5922,91713,534139,443105,692
2023-01-20$484.94$500.0023.2%6.7%20.5%20.9%23.4%4.0%-0.5%35.1M7.6M-10.3M0.7836.6717,35413,573143,773109,330
2023-01-23$485.79$490.0022.5%6.8%20.1%16.2%24.3%3.7%-1.2%-3.1M86.4M-10.3M0.7435.179,9597,35387,36972,003
2023-01-24$489.86$490.0022.0%6.7%20.6%12.4%24.1%4.2%0.2%15.4M-112.6M-10.7M0.7938.079,4187,42591,67375,400
2023-01-25$492.42$490.0022.3%6.9%20.2%14.7%25.7%4.3%-0.6%25.7M-233.0M-11.0M0.6839.1410,4207,05495,01879,927
2023-01-26$491.71$490.0022.3%6.7%20.0%14.3%25.5%3.6%-0.4%31.0M-227.0M-10.8M0.7841.508,1556,39197,77082,867
2023-01-27$488.42$490.0022.7%7.0%19.9%17.2%26.3%4.5%0.0%-657.0K137.9K-11.0M1.0538.2912,01612,63099,07586,778
2023-01-30$487.02$490.0024.9%7.5%19.8%33.4%27.6%4.8%-0.6%-7.6M84.8M-11.0M0.8929.969,0107,98594,61187,285
2023-01-31$497.37$490.0022.7%6.7%21.7%17.4%24.9%2.9%-0.1%41.2M-472.7M-11.2M0.8426.1216,48613,81898,39392,128