UNH Options History — October 2023

In October 2023, UNH traded between $510.43 and $539.20. ATM implied volatility averaged 20.8%, placing in the 28.9% IV rank vs the trailing year. The 30-day expected move averaged 6.0%. IV traded above realized volatility by 4.6% (HV 20d: 16.2%). Max pain ranged from $490.00 to $520.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 8 of 22 days. Put/call ratio averaged 0.81.

Notable Days

2023-10-13: Highest Volume — 61,877 contracts
2023-10-13: Largest IV drop — 15.9% change
2023-10-03: Highest IV Rank — 47.4%
2023-10-03: Largest Expected Move — 7.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$526.33	$510.43	$539.20	$514.00	$535.12
Max Pain	$506.48	$490.00	$520.00	$490.00	$517.50
ATM IV	20.8%	17.4%	24.8%	23.4%	19.7%
Expected Move	6.0%	5.0%	7.8%	7.3%	5.3%
HV 20d	16.2%	15.1%	17.5%	17.0%	15.1%
HV 60d	17.5%	15.3%	22.2%	22.1%	16.5%
IV Rank	28.9%	6.3%	47.4%	39.8%	29.1%
IV Percentile	36.1%	2.8%	77.8%	64.3%	26.6%
Term Structure	0.0%	-1.0%	1.9%	-0.3%	-0.3%
VWIV	21.4%	17.8%	28.4%	28.4%	18.9%
Skew 25d	3.3%	2.6%	3.9%	3.4%	3.4%
Skew 10d	7.0%	5.4%	8.0%	7.5%	7.7%
Call IV 25d	19.3%	16.4%	23.0%	22.0%	17.9%
Put IV 25d	22.7%	19.4%	26.9%	25.4%	21.3%
Bid-Ask Spread %	46.90	23.85	59.78	26.39	48.17
Gamma HHI	0.08	0.05	0.21	0.06	0.07
Net GEX	98.4M	18.0M	184.0M	78.2M	103.7M
Net DEX	-1.85B	-2.87B	-1.13B	-1.58B	-1.86B
Net VEX	-12.2M	-12.8M	-11.7M	-12.6M	-11.7M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.81	0.56	1.12	1.03	0.80
Total Volume	15,051.045	7,295	61,877	12,729	8,320
Total OI	204,679.273	190,108	222,410	197,289	198,388

Daily Data (22 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
2023-10-02	$514.00	$490.00	23.4%	7.3%	17.0%	39.8%	28.4%	3.4%	-0.3%	78.2M	-1.58B	-12.6M	1.03	26.39	6,282	6,447	103,101	94,188
2023-10-03	$510.44	$490.00	24.8%	7.8%	17.0%	47.4%	27.3%	3.9%	-0.6%	78.9M	-1.41B	-12.8M	0.83	23.85	4,995	4,140	105,793	93,969
2023-10-04	$510.43	$490.00	24.0%	7.5%	16.4%	42.7%	26.5%	3.6%	-0.7%	83.7M	-1.40B	-12.7M	0.87	31.83	4,515	3,922	106,970	94,671
2023-10-05	$516.67	$500.00	23.9%	6.5%	16.2%	42.7%	23.5%	3.3%	-0.7%	110.7M	-1.76B	-12.6M	0.69	46.77	8,922	6,113	108,098	95,885
2023-10-06	$524.63	$500.00	23.0%	6.4%	16.1%	37.0%	22.8%	3.3%	-0.7%	184.0M	-2.24B	-12.5M	0.56	49.98	17,091	9,645	109,584	98,099
2023-10-09	$525.85	$500.00	23.2%	6.4%	15.8%	38.1%	22.8%	3.4%	-0.8%	102.4M	-2.04B	-12.4M	0.94	52.05	5,890	5,548	106,819	91,705
2023-10-10	$524.26	$500.00	23.3%	6.6%	16.1%	38.8%	23.3%	3.2%	-0.2%	94.9M	-1.96B	-12.4M	0.87	45.45	5,714	4,961	108,354	93,919
2023-10-11	$522.47	$500.00	23.4%	6.4%	16.2%	39.2%	22.5%	3.1%	-1.0%	96.2M	-1.88B	-12.3M	0.68	53.50	5,980	4,087	110,428	95,699
2023-10-12	$526.35	$500.00	22.0%	6.1%	16.2%	31.4%	22.0%	2.6%	-0.8%	108.2M	-2.07B	-12.4M	0.75	45.73	13,878	10,359	111,899	96,698
2023-10-13	$538.31	$510.00	18.5%	5.3%	17.5%	11.6%	18.5%	2.8%	0.0%	174.9M	-2.87B	-11.7M	0.57	50.61	39,510	22,367	118,101	101,441
2023-10-16	$539.20	$510.00	17.5%	5.0%	17.4%	6.3%	18.1%	2.9%	-0.3%	150.6M	-2.66B	-11.8M	0.57	49.41	12,521	7,176	114,202	94,528
2023-10-17	$535.92	$510.00	17.4%	5.0%	16.9%	7.7%	17.8%	3.1%	-0.2%	138.1M	-2.39B	-11.9M	0.97	48.17	8,120	7,861	116,004	97,191
2023-10-18	$537.00	$510.00	17.6%	5.1%	15.5%	10.5%	18.0%	3.2%	0.2%	138.1M	-2.43B	-12.1M	0.82	57.27	6,283	5,133	117,440	100,189
2023-10-19	$530.44	$510.00	19.1%	5.5%	15.6%	23.7%	18.9%	3.5%	-0.4%	102.9M	-2.00B	-12.2M	0.94	58.36	8,928	8,399	118,321	101,229
2023-10-20	$527.21	$510.00	18.7%	5.3%	15.6%	20.4%	20.0%	3.5%	0.2%	67.0M	-1.75B	-12.2M	1.04	59.78	6,561	6,833	119,332	103,078
2023-10-23	$521.16	$510.00	19.3%	5.7%	16.2%	26.0%	19.5%	3.7%	1.2%	39.5M	-1.13B	-12.0M	0.81	42.05	6,095	4,913	102,105	88,003
2023-10-24	$525.83	$520.00	18.3%	5.4%	16.0%	16.8%	19.2%	3.4%	1.3%	63.0M	-1.37B	-12.0M	0.64	44.33	4,449	2,846	104,412	89,461
2023-10-25	$530.89	$520.00	19.0%	5.6%	16.1%	23.3%	19.8%	3.5%	1.1%	85.8M	-1.64B	-12.2M	0.74	52.38	5,585	4,144	105,961	90,537
2023-10-26	$527.91	$520.00	20.1%	6.0%	15.9%	32.6%	21.5%	3.7%	1.4%	76.0M	-1.45B	-12.3M	1.12	49.86	3,764	4,199	107,190	91,818
2023-10-27	$524.03	$510.00	20.6%	6.0%	15.8%	37.6%	20.7%	3.4%	1.9%	18.0M	-1.20B	-12.3M	0.95	45.79	5,429	5,147	109,392	94,622
2023-10-30	$531.11	$515.00	20.2%	5.7%	15.3%	33.4%	20.2%	3.6%	-0.2%	69.1M	-1.59B	-12.0M	0.65	50.00	4,891	3,160	103,730	90,390
2023-10-31	$535.12	$517.50	19.7%	5.3%	15.1%	29.1%	18.9%	3.4%	-0.3%	103.7M	-1.86B	-11.7M	0.80	48.17	4,611	3,709	106,757	91,631