UNH Options History — September 2023

In September 2023, UNH traded between $476.02 and $510.34. ATM implied volatility averaged 20.9%, placing in the 25.5% IV rank vs the trailing year. The 30-day expected move averaged 6.2%. IV traded above realized volatility by 3.5% (HV 20d: 17.4%). Max pain ranged from $490.00 to $490.00. Net GEX was positive for 13 of 20 trading days. Term structure was in contango for 7 of 20 days. Put/call ratio averaged 0.78.

Notable Days

  • 2023-09-22: Highest Volume — 38,182 contracts
  • 2023-09-12: Largest IV spike — 8.1% change
  • 2023-09-26: Highest IV Rank — 36.7%
  • 2023-09-27: Largest Expected Move — 6.9%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$490.66$476.02$510.34$476.02$505.01
Max Pain$490.00$490.00$490.00$490.00$490.00
ATM IV20.9%18.2%22.9%18.3%22.7%
Expected Move6.2%5.2%6.9%5.2%6.9%
HV 20d17.4%14.9%19.5%16.7%16.4%
HV 60d23.0%21.4%26.4%26.2%22.2%
IV Rank25.5%9.8%36.7%10.8%35.8%
IV Percentile34.6%5.2%57.9%6.7%57.1%
Term Structure0.3%-1.1%3.5%0.7%-0.3%
VWIV22.0%18.1%24.8%18.1%24.8%
Skew 25d3.4%2.5%4.2%2.6%3.6%
Skew 10d6.9%4.6%8.3%6.0%7.4%
Call IV 25d19.4%15.8%21.3%17.2%21.3%
Put IV 25d22.8%18.7%25.1%19.7%24.9%
Bid-Ask Spread %31.3012.6440.8537.6436.94
Gamma HHI0.070.050.170.060.11
Net GEX35.0M-48.0M110.1M-25.5M89.4M
Net DEX-555.4M-1.53B338.0M338.0M-1.19B
Net VEX-11.6M-12.7M-10.9M-11.4M-12.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.780.301.340.810.73
Total Volume19,518.4511,24038,18219,08714,731
Total OI210,619.3179,758228,909225,737212,974

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-09-01$476.02$490.0018.3%5.2%16.7%10.8%18.1%2.6%0.7%-25.5M338.0M-11.4M0.8137.6410,5288,559123,667102,070
2023-09-05$482.34$490.0018.2%6.1%16.6%9.8%21.4%2.5%2.5%4.7M-102.9M-11.3M0.5135.9310,8925,509117,48698,144
2023-09-06$477.54$490.0018.2%6.1%16.7%9.9%21.4%2.7%2.4%-23.3M183.1M-11.0M0.5036.337,4693,771120,256100,366
2023-09-07$484.59$490.0018.5%6.2%17.8%11.9%21.4%3.2%2.5%38.3M-226.8M-11.4M0.3035.7728,7418,628121,995101,938
2023-09-08$480.31$490.0018.4%6.0%18.0%11.4%20.9%2.9%3.5%-48.0M115.5M-11.2M0.8838.808,2417,242122,906105,424
2023-09-11$478.64$490.0019.7%6.0%17.4%18.5%20.7%3.5%1.0%-9.2M58.1M-11.0M0.9240.856,9776,443117,002100,132
2023-09-12$480.61$490.0021.3%6.2%17.4%27.6%21.4%4.2%0.1%-3.0M-52.1M-11.1M1.1338.148,0979,163117,144101,393
2023-09-13$480.46$490.0021.6%6.0%17.3%29.2%21.6%3.3%-0.6%-3.2M-63.1M-11.0M1.3437.035,2216,977118,489103,040
2023-09-14$483.51$490.0021.1%6.0%17.6%26.3%20.4%3.5%-0.3%21.7M-229.9M-10.9M0.8716.159,0917,931119,505103,534
2023-09-15$486.57$490.0021.1%5.8%15.8%26.3%21.0%3.1%-1.1%98.9M-441.6M-11.2M0.4516.4617,0157,682123,055105,854
2023-09-18$486.06$490.0021.3%6.0%14.9%27.6%21.0%3.6%-0.7%20.4M-356.8M-11.1M0.4312.6411,1444,73894,47085,288
2023-09-19$480.92$490.0022.1%6.3%15.3%31.9%22.3%3.7%-0.9%-16.3M-110.6M-11.3M0.6117.1410,0216,09396,23387,851
2023-09-20$492.44$490.0021.2%6.1%17.3%26.9%21.3%3.4%-0.1%64.7M-788.8M-11.6M0.6835.2718,28912,44998,68790,480
2023-09-21$501.74$490.0022.6%6.5%18.4%34.7%23.3%3.7%-0.7%92.6M-1.30B-12.0M0.8529.4219,29616,470101,57996,157
2023-09-22$506.76$490.0022.0%6.3%18.6%31.4%22.6%3.6%-0.2%74.2M-1.53B-12.3M0.7433.1821,95216,230104,266101,260
2023-09-25$510.34$490.0022.2%6.5%18.7%32.5%22.9%3.2%-0.6%80.0M-1.49B-12.3M0.9237.998,2827,603102,04896,234
2023-09-26$505.95$490.0022.9%6.8%19.0%36.7%24.3%3.7%-0.3%71.0M-1.26B-12.5M1.1432.216,2857,171105,21598,609
2023-09-27$503.74$490.0022.8%6.9%19.1%36.1%24.4%3.8%-0.3%62.8M-1.12B-12.6M1.0924.225,5296,032106,540100,755
2023-09-28$509.65$490.0022.6%6.8%19.5%35.1%24.0%3.5%-0.6%110.1M-1.53B-12.7M0.6933.938,2195,658108,345101,995
2023-09-29$505.01$490.0022.7%6.9%16.4%35.8%24.8%3.6%-0.3%89.4M-1.19B-12.7M0.7336.948,5206,211109,604103,370