UNH Options History — May 2023

In May 2023, UNH traded between $478.34 and $495.06. ATM implied volatility averaged 20.9%, placing in the 16.4% IV rank vs the trailing year. The 30-day expected move averaged 6.1%. IV traded above realized volatility by 1.2% (HV 20d: 19.7%). Max pain ranged from $490.00 to $490.00. Net GEX was positive for 21 of 22 trading days. Term structure was in contango for 16 of 22 days. Put/call ratio averaged 0.66.

Notable Days

  • 2023-05-05: Highest Volume — 30,975 contracts
  • 2023-05-05: Largest IV drop — 12.6% change
  • 2023-05-30: Highest IV Rank — 24.8%
  • 2023-05-30: Largest Expected Move — 6.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$486.00$478.34$495.06$495.06$485.50
Max Pain$490.00$490.00$490.00$490.00$490.00
ATM IV20.9%18.9%22.2%18.9%21.4%
Expected Move6.1%5.3%6.7%5.3%6.3%
HV 20d19.7%11.8%31.5%31.5%12.6%
HV 60d22.7%22.4%23.0%22.8%22.5%
IV Rank16.4%3.8%24.8%3.8%19.4%
IV Percentile9.7%0.8%23.4%0.8%13.5%
Term Structure0.2%-0.9%1.3%1.0%-0.9%
VWIV21.4%17.8%23.6%17.8%22.2%
Skew 25d4.6%3.9%5.3%4.0%3.9%
Skew 10d9.0%7.6%9.8%7.6%7.9%
Call IV 25d19.1%17.1%20.7%17.1%19.8%
Put IV 25d23.7%21.1%25.3%21.1%23.7%
Bid-Ask Spread %37.5016.9055.4422.2143.63
Gamma HHI0.050.040.110.050.05
Net GEX27.5M-6.2M51.7M51.7M40.8M
Net DEX-153.7M-555.7M237.0M-555.7M-289.7M
Net VEX-11.3M-12.1M-10.6M-11.7M-10.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.660.341.000.630.58
Total Volume14,971.4096,52530,97520,04412,934
Total OI208,751.773197,747229,379197,747210,305

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-05-01$495.06$490.0018.9%5.3%31.5%3.8%17.8%4.0%1.0%51.7M-555.7M-11.7M0.6322.2112,3097,735110,12387,624
2023-05-02$492.26$490.0020.4%5.6%26.6%13.4%20.1%4.7%0.7%37.1M-357.7M-11.9M1.0035.216,8856,879112,49089,641
2023-05-03$489.39$490.0020.5%5.8%26.6%13.8%19.8%4.8%0.5%23.2M-206.5M-12.0M0.5549.596,2103,420113,92192,072
2023-05-04$486.15$490.0022.1%6.5%23.1%23.8%22.8%5.1%0.6%7.0M-48.2M-12.1M0.6334.597,6284,820115,40892,397
2023-05-05$494.56$490.0019.3%6.1%24.0%6.2%21.2%4.3%1.0%36.3M-550.3M-11.8M0.5846.8419,62511,350116,59493,265
2023-05-08$492.73$490.0020.1%6.2%24.0%11.4%21.0%4.8%1.3%41.4M-412.3M-11.8M0.8426.746,4335,420111,22789,848
2023-05-09$491.83$490.0021.1%6.3%23.4%17.8%22.5%5.0%0.8%46.5M-399.4M-11.9M0.6425.607,8024,980115,17191,809
2023-05-10$489.74$490.0020.9%6.1%23.3%16.3%19.7%4.6%0.6%39.3M-276.4M-11.7M0.5439.026,7723,636116,97092,840
2023-05-11$488.71$490.0020.4%6.0%22.9%13.1%21.4%4.5%0.9%33.0M-216.5M-11.5M0.8616.906,6925,722118,18193,051
2023-05-12$490.78$490.0020.2%5.9%21.2%12.1%20.2%4.9%0.5%50.6M-356.3M-11.5M0.7320.987,8105,705119,92194,562
2023-05-15$486.90$490.0020.6%6.0%21.1%14.9%20.9%4.5%0.0%38.1M-213.2M-11.1M0.6540.0410,9607,128115,58088,954
2023-05-16$480.27$490.0021.7%6.3%21.5%21.3%21.3%4.6%-0.1%247.2K177.0M-10.7M0.6649.157,9845,240117,44891,939
2023-05-17$484.44$490.0021.1%6.1%16.2%17.9%21.0%4.3%-0.9%29.5M-102.6M-10.9M0.9152.3614,44513,161119,55093,002
2023-05-18$478.34$490.0021.1%6.1%16.7%17.7%21.6%4.5%-0.6%-6.2M237.0M-10.8M0.7548.5112,5919,391125,75997,108
2023-05-19$479.11$490.0020.8%6.0%16.5%15.8%20.7%4.7%-0.5%47.0M176.8M-10.9M0.5855.4413,0497,507129,50499,875
2023-05-22$480.94$490.0020.8%6.1%16.0%15.8%20.6%4.5%0.0%6.5M58.2M-10.6M0.6427.697,9315,056109,13888,738
2023-05-23$481.26$490.0020.9%6.1%15.7%16.5%22.4%4.5%0.0%13.6M27.6M-11.0M0.7144.205,9824,220112,09490,993
2023-05-24$481.88$490.0021.8%6.7%13.6%22.1%23.4%4.7%0.0%20.5M-35.1M-11.2M0.3443.274,8551,670113,53292,498
2023-05-25$479.27$490.0021.8%6.5%11.8%22.0%23.3%5.3%0.0%3.5M83.7M-11.1M0.5834.716,2563,625116,68893,821
2023-05-26$483.08$490.0021.5%6.6%12.3%20.1%23.6%4.6%0.2%33.3M-150.1M-11.1M0.5925.7010,3366,054116,97697,485
2023-05-30$479.77$490.0022.2%6.7%11.8%24.8%23.4%4.6%-0.4%12.0M27.8M-10.6M0.6242.596,9074,256111,01893,419
2023-05-31$485.50$490.0021.4%6.3%12.6%19.4%22.2%3.9%-0.9%40.8M-289.7M-10.9M0.5843.638,1734,761114,46995,836