UNH Options History — July 2023

In July 2023, UNH traded between $448.26 and $512.29. ATM implied volatility averaged 20.2%, placing in the 17.1% IV rank vs the trailing year. The 30-day expected move averaged 5.8%. IV traded below realized volatility by 10.4% (HV 20d: 30.7%). Max pain ranged from $460.00 to $480.00. Net GEX was positive for 13 of 20 trading days. Term structure was in contango for 8 of 20 days. Put/call ratio averaged 0.64.

Notable Days

  • 2023-07-14: Highest Volume — 160,797 contracts
  • 2023-07-14: Largest IV drop — 24.6% change
  • 2023-07-12: Highest IV Rank — 46.7%
  • 2023-07-05: Largest Expected Move — 7.3%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$486.53$448.26$512.29$478.25$505.98
Max Pain$472.25$460.00$480.00$477.50$480.00
ATM IV20.2%16.4%25.5%21.1%18.0%
Expected Move5.8%4.7%7.3%6.5%5.0%
HV 20d30.7%29.2%32.0%30.5%30.9%
HV 60d25.3%23.2%27.3%23.4%26.2%
IV Rank17.1%0.0%46.7%19.6%8.9%
IV Percentile23.6%0.0%77.8%19.4%2.4%
Term Structure-0.2%-0.9%0.5%-0.2%0.2%
VWIV20.4%16.3%25.7%23.1%17.7%
Skew 25d2.4%1.6%3.3%2.8%2.4%
Skew 10d4.7%3.0%7.0%6.1%4.4%
Call IV 25d19.5%15.7%24.9%20.2%17.2%
Put IV 25d21.9%17.7%27.3%23.0%19.6%
Bid-Ask Spread %28.3211.4241.0035.0924.81
Gamma HHI0.080.050.170.050.06
Net GEX68.3M-86.0M208.7M28.9M88.9M
Net DEX-1.21B-2.95B1.02B-450.2M-1.75B
Net VEX-12.0M-13.2M-11.2M-11.5M-13.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.640.361.200.780.57
Total Volume37,763.359,813160,7979,81314,621
Total OI241,660.95215,618286,278215,618227,846

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-07-03$478.25$477.5021.1%6.5%30.5%19.6%23.1%2.8%-0.2%28.9M-450.2M-11.5M0.7835.095,5164,297116,29399,325
2023-07-05$471.03$477.5023.1%7.3%30.9%31.4%25.7%3.0%-0.5%-16.5M-33.9M-11.3M0.8017.0413,18810,529117,806101,281
2023-07-06$469.80$470.0023.3%6.5%29.8%32.8%22.4%3.3%-0.5%-21.5M4.0M-11.6M0.7740.8410,6618,177123,147107,113
2023-07-07$462.30$470.0024.8%6.8%30.2%42.0%24.0%3.0%-0.8%-86.0M483.1M-11.4M0.6438.3018,16711,713124,083108,887
2023-07-10$462.49$470.0024.7%6.9%29.5%41.8%24.1%3.2%-0.6%-34.2M338.0M-11.4M0.8939.5114,34312,767120,437104,986
2023-07-11$462.59$470.0024.2%6.9%29.2%38.7%23.7%3.2%-0.2%-29.4M269.7M-11.8M0.4437.2911,3415,044127,296110,829
2023-07-12$452.22$470.0025.5%7.1%30.0%46.7%24.4%2.7%-0.9%-55.1M848.1M-11.2M0.5641.0032,42518,223129,998112,577
2023-07-13$448.26$470.0025.1%7.0%30.0%44.0%24.4%2.1%-0.8%-55.5M1.02B-11.5M0.8538.7835,11829,700144,705118,674
2023-07-14$480.22$460.0018.9%5.4%30.8%5.6%19.0%1.7%-0.3%197.6M-1.84B-12.0M0.4423.21111,55949,238159,187127,091
2023-07-17$483.57$470.0019.3%5.5%30.4%8.1%19.2%2.4%-0.5%142.8M-1.43B-11.8M0.4311.4222,5249,704139,688104,712
2023-07-18$500.36$470.0018.9%5.4%32.0%5.5%19.1%2.0%-0.0%208.7M-2.73B-11.8M0.3830.6063,92124,030142,956107,394
2023-07-19$502.86$470.0019.1%5.5%31.3%6.7%19.5%1.9%-0.6%187.7M-2.75B-12.0M0.5531.2132,74917,859145,078113,802
2023-07-20$505.58$470.0018.3%5.2%31.1%1.8%19.4%1.9%0.1%186.2M-2.85B-12.2M0.5814.2818,51810,725147,733117,096
2023-07-21$507.06$470.0016.8%4.8%31.1%0.0%17.5%1.6%0.3%106.5M-2.95B-12.2M0.3628.3622,2858,030150,280120,704
2023-07-24$508.66$470.0016.4%4.7%31.1%0.0%17.2%1.6%0.3%119.6M-2.23B-12.1M0.8311.778,6207,114119,08598,807
2023-07-25$512.29$470.0016.4%4.7%31.1%0.0%16.3%2.0%0.2%137.5M-2.42B-12.2M0.4020.2016,4476,610121,993101,070
2023-07-26$509.44$480.0016.5%4.7%31.3%0.5%16.6%1.8%0.3%134.5M-2.29B-12.6M0.5426.1616,1228,781128,853103,827
2023-07-27$504.79$480.0017.1%4.9%30.8%3.8%17.4%2.3%0.4%59.3M-1.89B-12.9M1.2024.6610,27912,310132,024109,148
2023-07-28$502.84$480.0017.3%4.8%30.9%5.0%17.5%2.4%0.5%66.6M-1.61B-13.2M0.7631.8612,5169,496133,534113,874
2023-07-31$505.98$480.0018.0%5.0%30.9%8.9%17.7%2.4%0.2%88.9M-1.75B-13.0M0.5724.819,3205,301122,568105,278