UNH Options History — February 2023

In February 2023, UNH traded between $471.19 and $500.46. ATM implied volatility averaged 23.1%, placing in the 20.4% IV rank vs the trailing year. The 30-day expected move averaged 6.6%. IV traded below realized volatility by 3.5% (HV 20d: 26.6%). Max pain ranged from $490.00 to $500.00. Net GEX was positive for 14 of 19 trading days. Term structure was in contango for 9 of 19 days. Put/call ratio averaged 0.69.

Notable Days

  • 2023-02-02: Highest Volume — 60,517 contracts
  • 2023-02-02: Largest IV spike — 23.6% change
  • 2023-02-02: Highest IV Rank — 42.2%
  • 2023-02-02: Largest Expected Move — 7.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$486.47$471.19$500.46$500.46$475.36
Max Pain$499.21$490.00$500.00$490.00$495.00
ATM IV23.1%21.1%26.1%21.1%23.3%
Expected Move6.6%6.1%7.3%6.3%6.4%
HV 20d26.6%20.7%28.1%20.7%27.1%
HV 60d23.1%20.4%26.0%23.2%20.4%
IV Rank20.4%6.0%42.2%6.0%21.7%
IV Percentile19.4%2.0%52.4%2.0%24.2%
Term Structure-0.1%-1.4%1.1%1.1%0.1%
VWIV23.1%21.1%24.9%23.6%22.2%
Skew 25d4.4%2.9%6.9%2.9%4.5%
Skew 10d8.7%6.7%9.8%7.1%8.6%
Call IV 25d21.0%19.5%23.9%19.8%20.9%
Put IV 25d25.4%22.7%28.2%22.7%25.5%
Bid-Ask Spread %35.0921.2951.9845.3423.19
Gamma HHI0.070.050.110.050.06
Net GEX22.9M-71.6M112.1M58.9M-19.0M
Net DEX-107.6M-860.4M970.3M-668.1M374.9M
Net VEX-11.1M-12.0M-10.3M-11.3M-10.3M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.690.271.280.410.98
Total Volume18,937.3687,14960,51721,99618,846
Total OI204,183.368177,995221,833193,200191,070

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-02-01$500.46$490.0021.1%6.3%20.7%6.0%23.6%2.9%1.1%58.9M-668.1M-11.3M0.4145.3415,5476,449100,75692,444
2023-02-02$471.19$500.0026.1%7.3%28.1%42.2%24.9%4.3%0.8%-71.6M970.3M-10.5M0.7040.3335,64524,872109,47994,212
2023-02-03$472.12$500.0024.9%7.0%27.0%33.5%23.8%4.4%0.0%-52.1M820.9M-11.0M0.6145.7916,0579,833122,17399,033
2023-02-06$474.61$500.0025.1%7.1%27.1%34.6%24.2%5.3%-0.6%-31.9M551.7M-10.9M0.6249.719,8956,151110,48793,308
2023-02-07$476.93$500.0024.8%6.8%27.2%32.4%22.8%5.0%-1.4%-21.5M421.7M-11.1M0.2729.0817,7784,809112,71295,011
2023-02-08$483.04$500.0023.1%6.8%27.5%20.3%23.9%3.5%0.3%24.3M-60.0M-11.7M0.5444.0612,2476,572121,99996,074
2023-02-09$486.77$500.0023.6%6.7%27.2%24.1%24.2%5.4%-0.3%46.9M-259.8M-11.8M0.7031.347,7785,453122,53097,371
2023-02-10$495.09$500.0022.7%6.3%27.8%17.5%22.6%3.7%-1.1%85.5M-818.8M-12.0M0.5748.7413,2057,529123,43698,397
2023-02-13$493.77$500.0023.7%6.8%27.6%24.7%23.8%4.4%-0.7%44.1M-542.0M-11.8M0.8627.576,1225,255116,03193,731
2023-02-14$493.67$500.0022.5%6.5%27.1%16.3%23.8%4.2%-0.3%51.5M-548.2M-11.3M1.2851.983,1384,011117,63295,628
2023-02-15$490.88$500.0021.5%6.2%26.4%8.7%22.4%4.2%-0.1%37.0M-331.8M-11.1M0.9529.954,4134,180118,91397,013
2023-02-16$489.69$500.0021.5%6.2%25.4%9.1%22.1%4.3%-0.6%31.2M-262.2M-10.9M0.8828.536,8716,058119,80398,434
2023-02-17$497.77$500.0021.4%6.1%26.0%8.4%21.1%4.0%0.2%112.1M-860.4M-11.3M0.6522.4616,58810,779121,98399,535
2023-02-21$491.87$500.0023.6%6.8%26.5%24.0%24.1%6.9%0.8%45.8M-330.7M-11.2M0.9521.296,3306,007104,45973,536
2023-02-22$489.35$500.0023.1%6.5%26.4%20.5%23.4%3.8%-0.9%31.5M-182.6M-11.0M0.4734.738,5814,021107,21076,512
2023-02-23$491.10$500.0021.9%6.2%26.3%11.4%22.3%4.1%0.6%42.9M-296.1M-11.0M0.8524.557,0275,973109,16377,416
2023-02-24$486.34$500.0022.2%6.3%26.5%13.7%21.5%4.0%-0.3%7.3M-67.4M-10.8M0.5736.817,9644,528110,99679,238
2023-02-27$483.00$500.0022.8%6.5%26.6%18.2%21.8%4.8%0.0%12.5M43.7M-10.6M0.3331.2817,4805,818106,96374,796
2023-02-28$475.36$495.0023.3%6.4%27.1%21.7%22.2%4.5%0.1%-19.0M374.9M-10.3M0.9823.199,5139,333113,46977,601