UNH Options History — April 2023

In April 2023, UNH traded between $481.37 and $526.25. ATM implied volatility averaged 21.1%, placing in the 12.9% IV rank vs the trailing year. The 30-day expected move averaged 6.0%. IV traded below realized volatility by 8.0% (HV 20d: 29.1%). Max pain ranged from $470.00 to $490.00. Net GEX was positive for 17 of 19 trading days. Term structure was in contango for 10 of 19 days. Put/call ratio averaged 0.61.

Notable Days

2023-04-14: Highest Volume — 86,546 contracts
2023-04-27: Largest IV drop — 12.4% change
2023-04-03: Highest IV Rank — 27.2%
2023-04-03: Largest Expected Move — 7.0%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$500.74	$481.37	$526.25	$495.75	$490.50
Max Pain	$484.34	$470.00	$490.00	$470.00	$490.00
ATM IV	21.1%	18.3%	24.0%	24.0%	19.0%
Expected Move	6.0%	5.2%	7.0%	7.0%	5.3%
HV 20d	29.1%	25.8%	32.3%	26.4%	31.4%
HV 60d	24.6%	23.1%	26.0%	23.1%	25.9%
IV Rank	12.9%	0.0%	27.2%	27.2%	4.3%
IV Percentile	10.7%	0.0%	32.1%	32.1%	1.2%
Term Structure	0.1%	-0.8%	1.0%	-0.1%	0.3%
VWIV	21.0%	17.8%	24.4%	24.4%	18.4%
Skew 25d	4.3%	3.7%	5.2%	4.6%	4.5%
Skew 10d	8.5%	7.2%	9.8%	9.8%	8.0%
Call IV 25d	19.1%	16.8%	21.9%	21.9%	16.8%
Put IV 25d	23.5%	20.6%	27.0%	26.4%	21.2%
Bid-Ask Spread %	37.76	7.81	56.53	43.52	39.59
Gamma HHI	0.07	0.04	0.13	0.07	0.07
Net GEX	77.4M	-16.2M	149.7M	102.8M	57.4M
Net DEX	-988.6M	-2.36B	243.4M	-1.25B	-418.2M
Net VEX	-11.3M	-11.8M	-10.6M	-11.2M	-11.6M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.61	0.37	1.14	0.54	0.75
Total Volume	32,584.895	14,215	86,546	36,007	20,400
Total OI	202,190.105	181,730	232,085	188,561	208,840

Daily Data (19 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
2023-04-03	$495.75	$470.00	24.0%	7.0%	26.4%	27.2%	24.4%	4.6%	-0.1%	102.8M	-1.25B	-11.2M	0.54	43.52	23,392	12,615	102,070	86,491
2023-04-04	$492.81	$472.50	23.8%	7.0%	25.8%	25.2%	24.4%	5.1%	0.1%	107.7M	-1.07B	-11.3M	0.71	23.07	8,319	5,896	106,805	89,146
2023-04-05	$510.38	$470.00	23.7%	7.0%	28.2%	24.9%	24.4%	4.5%	-0.1%	149.7M	-2.03B	-11.7M	0.37	41.27	31,472	11,705	108,893	91,002
2023-04-06	$512.40	$480.00	23.0%	6.5%	27.4%	19.8%	23.9%	4.6%	0.3%	129.6M	-2.11B	-11.8M	0.51	51.88	17,472	8,982	110,799	93,685
2023-04-10	$514.45	$480.00	22.7%	6.6%	26.5%	17.8%	24.1%	4.5%	0.3%	133.4M	-1.81B	-11.5M	0.88	56.53	9,220	8,101	103,479	78,251
2023-04-11	$520.60	$480.00	22.4%	6.3%	26.5%	15.2%	23.3%	4.3%	-0.3%	147.9M	-2.16B	-11.6M	0.61	25.79	17,107	10,454	106,107	81,266
2023-04-12	$521.25	$480.00	22.9%	6.4%	26.2%	18.7%	22.7%	4.2%	-0.5%	132.6M	-2.09B	-11.5M	0.73	45.89	14,582	10,701	105,736	85,541
2023-04-13	$526.25	$480.00	21.9%	6.1%	26.2%	12.0%	21.4%	4.0%	-0.8%	145.7M	-2.36B	-11.5M	0.59	52.32	33,777	20,012	108,402	89,440
2023-04-14	$512.08	$490.00	20.0%	5.7%	28.4%	0.0%	20.6%	4.0%	0.0%	88.3M	-1.29B	-11.5M	0.71	47.95	50,534	36,012	120,636	97,028
2023-04-17	$506.43	$490.00	18.3%	5.2%	28.7%	0.0%	19.5%	4.0%	1.0%	75.1M	-973.4M	-11.0M	0.60	30.16	15,621	9,331	113,338	85,218
2023-04-18	$504.76	$490.00	19.0%	5.4%	28.4%	4.2%	17.8%	3.7%	-0.2%	77.0M	-953.0M	-11.0M	0.39	41.98	18,353	7,149	118,358	87,784
2023-04-19	$484.34	$490.00	20.9%	6.0%	32.3%	16.6%	19.9%	3.8%	-0.1%	-1.7M	160.5M	-10.6M	0.59	7.81	39,993	23,596	123,519	89,841
2023-04-20	$486.63	$490.00	19.5%	5.5%	32.3%	7.6%	19.3%	4.2%	1.0%	17.4M	-48.7M	-11.0M	0.56	31.20	15,002	8,437	133,064	94,569
2023-04-21	$483.05	$490.00	19.2%	5.5%	31.6%	5.9%	19.0%	4.3%	0.0%	40.2M	165.2M	-10.7M	0.62	40.63	20,271	12,667	135,573	96,512
2023-04-24	$488.48	$490.00	18.9%	5.3%	31.5%	3.7%	18.5%	4.2%	0.5%	9.7M	-104.2M	-10.9M	0.43	26.50	15,793	6,742	105,435	84,934
2023-04-25	$492.19	$490.00	20.3%	5.7%	31.3%	12.5%	19.3%	4.3%	-0.1%	33.0M	-326.9M	-11.4M	0.42	36.15	18,213	7,693	108,006	87,067
2023-04-26	$481.37	$490.00	22.0%	6.2%	31.3%	23.4%	20.4%	5.2%	-0.2%	-16.2M	243.4M	-11.1M	1.14	41.01	15,232	17,323	111,207	88,418
2023-04-27	$490.40	$490.00	19.3%	5.4%	31.5%	6.1%	18.0%	4.3%	0.4%	41.1M	-363.4M	-11.6M	0.48	34.22	11,410	5,534	115,948	89,204
2023-04-28	$490.50	$490.00	19.0%	5.3%	31.4%	4.3%	18.4%	4.5%	0.3%	57.4M	-418.2M	-11.6M	0.75	39.59	11,643	8,757	118,316	90,524