UNH Options History — November 2023

In November 2023, UNH traded between $530.12 and $553.17. ATM implied volatility averaged 17.2%, placing in the 10.0% IV rank vs the trailing year. The 30-day expected move averaged 5.0%. IV traded above realized volatility by 4.2% (HV 20d: 13.1%). Max pain ranged from $480.00 to $520.00. Net GEX was positive for 21 of 21 trading days. Term structure was in contango for 6 of 21 days. Put/call ratio averaged 0.71.

Notable Days

2023-11-30: Highest Volume — 140,441 contracts
2023-11-30: Largest IV drop — 12.2% change
2023-11-01: Highest IV Rank — 33.7%
2023-11-01: Largest Expected Move — 5.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$539.01	$530.12	$553.17	$531.00	$553.17
Max Pain	$492.86	$480.00	$520.00	$520.00	$500.00
ATM IV	17.2%	14.9%	20.2%	20.2%	14.9%
Expected Move	5.0%	4.4%	5.4%	5.4%	4.7%
HV 20d	13.1%	9.9%	15.9%	15.5%	15.9%
HV 60d	15.7%	14.3%	16.7%	16.5%	15.7%
IV Rank	10.0%	0.0%	33.7%	33.7%	0.0%
IV Percentile	5.2%	0.0%	30.2%	30.2%	0.0%
Term Structure	-0.0%	-0.5%	1.0%	-0.4%	1.0%
VWIV	17.8%	15.5%	19.1%	18.3%	16.7%
Skew 25d	2.8%	1.9%	3.6%	3.6%	1.9%
Skew 10d	5.7%	3.9%	7.3%	7.3%	3.9%
Call IV 25d	16.0%	14.5%	18.0%	18.0%	14.5%
Put IV 25d	18.8%	16.5%	21.7%	21.7%	16.5%
Bid-Ask Spread %	58.16	52.94	64.20	54.75	61.24
Gamma HHI	0.09	0.05	0.18	0.06	0.09
Net GEX	107.4M	34.8M	199.4M	73.5M	189.7M
Net DEX	-1.91B	-2.63B	-1.31B	-1.60B	-2.63B
Net VEX	-10.7M	-11.6M	-10.1M	-11.6M	-10.3M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.71	0.28	0.99	0.73	0.28
Total Volume	17,383.143	7,155	140,441	8,479	140,441
Total OI	199,774.667	182,893	210,583	199,556	205,842

Daily Data (21 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
2023-11-01	$531.00	$520.00	20.2%	5.4%	15.5%	33.7%	18.3%	3.6%	-0.4%	73.5M	-1.60B	-11.6M	0.73	54.75	4,910	3,569	106,824	92,732
2023-11-02	$535.76	$480.00	18.6%	5.2%	15.2%	19.5%	19.1%	3.4%	-0.1%	102.3M	-1.88B	-11.3M	0.64	58.77	5,827	3,749	107,543	93,557
2023-11-03	$530.12	$480.00	18.4%	5.2%	15.0%	17.4%	18.1%	3.6%	-0.5%	78.3M	-1.51B	-11.1M	0.49	59.36	8,726	4,316	108,416	94,647
2023-11-06	$533.28	$480.00	18.1%	5.3%	15.1%	15.1%	18.4%	3.6%	0.4%	72.9M	-1.67B	-11.0M	0.70	60.93	5,392	3,784	102,174	91,994
2023-11-07	$539.00	$480.00	17.7%	5.1%	15.4%	11.5%	18.9%	3.2%	0.1%	105.9M	-2.01B	-10.9M	0.73	53.00	5,888	4,277	103,925	93,496
2023-11-08	$537.37	$490.00	17.8%	5.1%	15.4%	12.2%	18.8%	3.1%	-0.2%	105.3M	-1.94B	-10.7M	0.73	57.51	4,459	3,259	105,341	94,809
2023-11-09	$538.89	$490.00	18.2%	5.2%	15.3%	15.6%	18.7%	3.3%	0.1%	120.1M	-2.04B	-10.8M	0.95	58.34	3,670	3,485	107,138	95,676
2023-11-10	$540.76	$490.00	17.8%	5.1%	13.1%	12.3%	18.9%	3.1%	-0.1%	156.1M	-2.15B	-10.9M	0.75	59.75	7,816	5,869	108,056	97,195
2023-11-13	$541.46	$490.00	17.8%	5.1%	13.1%	12.3%	18.5%	3.0%	0.1%	110.6M	-2.13B	-11.0M	0.79	61.16	4,218	3,330	106,064	95,449
2023-11-14	$540.69	$490.00	17.4%	5.0%	12.9%	8.9%	17.8%	2.8%	-0.1%	112.4M	-2.13B	-10.6M	0.81	59.04	6,539	5,292	107,642	96,722
2023-11-15	$538.07	$490.00	17.4%	5.0%	13.0%	9.0%	17.9%	2.8%	-0.2%	96.0M	-1.96B	-10.7M	0.58	54.79	6,050	3,503	109,018	98,070
2023-11-16	$539.04	$490.00	17.6%	5.0%	12.1%	10.3%	18.0%	2.7%	-0.2%	114.0M	-2.01B	-10.6M	0.66	56.18	6,154	4,063	109,988	98,482
2023-11-17	$535.59	$490.00	17.2%	4.9%	12.2%	7.2%	17.5%	2.5%	-0.0%	109.4M	-1.70B	-10.8M	0.57	62.94	9,599	5,475	111,181	99,402
2023-11-20	$535.79	$490.00	16.6%	4.7%	11.3%	1.1%	17.7%	2.5%	-0.1%	59.3M	-1.55B	-10.3M	0.64	52.94	8,731	5,590	94,877	88,016
2023-11-21	$539.60	$500.00	15.9%	4.6%	11.1%	0.0%	16.4%	2.5%	-0.3%	88.9M	-1.79B	-10.3M	0.74	53.88	7,475	5,548	98,820	91,697
2023-11-22	$543.80	$500.00	15.5%	4.5%	11.0%	0.0%	16.1%	2.2%	-0.2%	142.4M	-2.07B	-10.2M	0.84	55.13	5,001	4,222	100,582	93,754
2023-11-24	$546.84	$500.00	15.5%	4.4%	10.8%	0.0%	15.5%	2.0%	-0.4%	199.4M	-2.28B	-10.1M	0.90	59.90	5,814	5,259	102,291	95,327
2023-11-27	$543.90	$500.00	16.2%	4.8%	10.6%	5.8%	17.3%	2.1%	-0.1%	98.6M	-1.97B	-10.2M	0.86	57.55	7,682	6,639	98,410	91,881
2023-11-28	$540.74	$500.00	16.0%	4.8%	9.9%	4.4%	17.2%	2.1%	0.6%	85.5M	-1.79B	-10.1M	0.99	64.20	5,617	5,570	101,463	94,971
2023-11-29	$534.34	$500.00	17.0%	5.1%	10.6%	12.9%	17.6%	2.3%	-0.2%	34.8M	-1.31B	-10.4M	0.59	59.93	11,500	6,738	103,233	98,563
2023-11-30	$553.17	$500.00	14.9%	4.7%	15.9%	0.0%	16.7%	1.9%	1.0%	189.7M	-2.63B	-10.3M	0.28	61.24	109,429	31,012	105,443	100,399