UNH Options History — August 2023

In August 2023, UNH traded between $477.88 and $510.28. ATM implied volatility averaged 18.7%, placing in the 12.9% IV rank vs the trailing year. The 30-day expected move averaged 5.3%. IV traded below realized volatility by 0.6% (HV 20d: 19.3%). Max pain ranged from $480.00 to $490.00. Net GEX was positive for 20 of 23 trading days. Term structure was in contango for 20 of 23 days. Put/call ratio averaged 0.68.

Notable Days

2023-08-17: Highest Volume — 35,739 contracts
2023-08-31: Largest IV spike — 10.7% change
2023-08-17: Highest IV Rank — 28.7%
2023-08-17: Largest Expected Move — 6.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$498.77	$477.88	$510.28	$503.56	$477.88
Max Pain	$487.83	$480.00	$490.00	$480.00	$490.00
ATM IV	18.7%	17.0%	21.5%	18.0%	18.8%
Expected Move	5.3%	4.7%	6.2%	5.0%	5.6%
HV 20d	19.3%	10.3%	31.0%	31.0%	16.7%
HV 60d	26.2%	25.9%	26.6%	26.2%	26.3%
IV Rank	12.9%	3.3%	28.7%	9.0%	13.6%
IV Percentile	8.7%	1.6%	32.5%	3.2%	11.1%
Term Structure	0.3%	-0.4%	1.0%	0.4%	0.9%
VWIV	18.9%	16.4%	20.9%	18.1%	19.5%
Skew 25d	2.9%	2.5%	3.5%	2.5%	3.0%
Skew 10d	5.5%	4.3%	7.0%	4.4%	6.5%
Call IV 25d	17.7%	16.1%	20.1%	17.3%	18.0%
Put IV 25d	20.6%	18.8%	23.6%	19.7%	21.0%
Bid-Ask Spread %	31.86	9.05	48.71	32.40	25.81
Gamma HHI	0.05	0.04	0.07	0.05	0.06
Net GEX	54.1M	-38.9M	115.9M	84.0M	-38.9M
Net DEX	-1.12B	-1.99B	243.9M	-1.63B	243.9M
Net VEX	-12.3M	-13.1M	-11.2M	-12.8M	-11.2M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.68	0.36	1.26	0.62	0.89
Total Volume	15,351.913	7,999	35,739	8,820	34,727
Total OI	225,578.913	199,787	245,859	234,098	214,458

Daily Data (23 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
2023-08-01	$503.56	$480.00	18.0%	5.0%	31.0%	9.0%	18.1%	2.5%	0.4%	84.0M	-1.63B	-12.8M	0.62	32.40	5,445	3,375	126,426	107,672
2023-08-02	$504.04	$480.00	18.7%	5.2%	30.3%	12.7%	18.6%	2.6%	0.1%	85.2M	-1.66B	-12.9M	0.69	41.02	10,505	7,237	127,834	108,568
2023-08-03	$505.42	$480.00	18.5%	5.3%	30.2%	11.9%	20.0%	2.5%	0.3%	93.6M	-1.71B	-13.0M	0.49	41.68	7,481	3,689	129,196	108,621
2023-08-04	$502.73	$480.00	18.3%	5.5%	29.5%	10.8%	19.5%	2.9%	0.4%	69.5M	-1.60B	-13.0M	0.93	28.28	8,526	7,959	131,500	109,080
2023-08-07	$509.98	$480.00	18.5%	5.4%	29.6%	11.8%	19.5%	2.6%	0.3%	112.0M	-1.99B	-12.7M	0.71	25.82	12,895	9,186	122,886	102,024
2023-08-08	$506.89	$490.00	19.1%	5.4%	29.9%	15.5%	19.3%	2.7%	-0.3%	101.1M	-1.77B	-13.1M	0.47	39.30	11,579	5,459	127,422	106,695
2023-08-09	$503.88	$490.00	19.1%	5.6%	28.4%	15.4%	19.5%	2.9%	0.5%	87.0M	-1.56B	-13.0M	0.56	41.02	5,606	3,132	129,381	108,249
2023-08-10	$502.85	$490.00	18.8%	5.5%	28.0%	13.4%	19.5%	2.8%	0.6%	82.4M	-1.51B	-12.8M	0.60	37.23	8,176	4,867	130,806	109,205
2023-08-11	$507.94	$490.00	18.2%	5.2%	15.4%	10.0%	18.9%	2.5%	0.1%	115.9M	-1.89B	-12.5M	1.26	39.28	9,610	12,099	132,737	110,044
2023-08-14	$510.28	$490.00	18.5%	5.3%	15.3%	11.8%	18.7%	2.8%	0.1%	108.7M	-1.95B	-12.5M	1.01	32.05	7,607	7,688	127,177	105,172
2023-08-15	$506.39	$490.00	19.0%	5.4%	10.3%	14.7%	19.7%	2.7%	0.5%	81.4M	-1.66B	-12.4M	0.68	38.05	6,051	4,086	128,235	108,625
2023-08-16	$504.48	$490.00	19.7%	5.7%	10.3%	18.7%	19.5%	2.7%	-0.4%	66.3M	-1.50B	-12.5M	0.76	42.01	5,936	4,533	128,347	108,946
2023-08-17	$492.47	$490.00	21.5%	6.2%	13.2%	28.7%	20.9%	3.5%	-0.2%	16.2M	-633.8M	-12.4M	0.73	46.58	20,690	15,049	129,278	109,369
2023-08-18	$498.97	$490.00	19.6%	5.6%	14.1%	18.2%	19.6%	3.3%	0.2%	63.2M	-1.11B	-12.4M	0.65	48.71	9,395	6,091	134,038	111,821
2023-08-21	$497.75	$490.00	18.4%	5.2%	14.1%	11.0%	18.4%	2.8%	0.2%	38.5M	-737.1M	-11.9M	0.50	35.62	5,330	2,669	109,111	90,676
2023-08-22	$492.23	$490.00	19.4%	5.5%	14.1%	16.6%	19.7%	3.3%	0.1%	12.4M	-470.2M	-11.8M	0.72	20.71	6,904	4,994	110,949	91,347
2023-08-23	$490.24	$490.00	18.6%	5.3%	14.1%	12.2%	18.7%	3.1%	0.3%	3.0M	-366.9M	-11.7M	0.36	26.88	11,010	3,990	113,122	93,170
2023-08-24	$488.38	$490.00	18.9%	5.4%	13.9%	13.8%	19.0%	3.1%	0.3%	-4.4M	-322.3M	-12.0M	0.61	36.32	7,709	4,704	115,987	94,959
2023-08-25	$489.77	$490.00	17.9%	5.0%	13.9%	8.5%	17.4%	3.0%	0.4%	-1.1M	-377.3M	-11.7M	0.63	20.22	6,748	4,249	118,601	96,156
2023-08-28	$491.54	$490.00	17.8%	4.8%	13.8%	8.1%	17.1%	3.1%	1.0%	23.5M	-494.4M	-11.7M	0.66	15.52	5,880	3,855	111,144	91,855
2023-08-29	$492.24	$490.00	17.8%	5.0%	13.7%	7.9%	17.8%	3.0%	1.0%	24.0M	-500.1M	-11.7M	0.71	9.09	8,036	5,671	113,175	93,913
2023-08-30	$491.84	$490.00	17.0%	4.7%	13.7%	3.3%	16.4%	2.8%	0.7%	21.5M	-463.7M	-11.7M	0.51	9.05	8,384	4,282	114,439	95,899
2023-08-31	$477.88	$490.00	18.8%	5.6%	16.7%	13.6%	19.5%	3.0%	0.9%	-38.9M	243.9M	-11.2M	0.89	25.81	18,359	16,368	117,489	96,969