UNH Options History — December 2023

In December 2023, UNH traded between $518.33 and $551.37. ATM implied volatility averaged 18.4%, placing in the 27.4% IV rank vs the trailing year. The 30-day expected move averaged 5.5%. IV traded above realized volatility by 0.9% (HV 20d: 17.5%). Max pain ranged from $500.00 to $530.00. Net GEX was positive for 17 of 20 trading days. Term structure was in contango for 11 of 20 days. Put/call ratio averaged 0.57.

Notable Days

  • 2023-12-14: Highest Volume — 29,020 contracts
  • 2023-12-11: Largest IV spike — 14.8% change
  • 2023-12-20: Highest IV Rank — 50.7%
  • 2023-12-26: Largest Expected Move — 6.1%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$534.93$518.33$551.37$547.35$526.23
Max Pain$501.50$500.00$530.00$530.00$500.00
ATM IV18.4%15.0%21.3%15.3%20.3%
Expected Move5.5%4.3%6.1%4.3%5.9%
HV 20d17.5%13.5%19.5%16.3%13.5%
HV 60d15.7%15.1%16.2%15.7%15.1%
IV Rank27.4%0.5%50.7%2.8%42.3%
IV Percentile26.5%0.4%54.8%0.4%44.8%
Term Structure0.5%-1.0%2.6%0.4%-0.4%
VWIV19.2%15.4%21.4%15.4%21.0%
Skew 25d2.0%1.5%2.9%1.6%1.9%
Skew 10d4.4%3.4%5.5%3.5%4.5%
Call IV 25d17.6%13.6%20.3%14.3%19.4%
Put IV 25d19.6%15.3%22.4%15.9%21.3%
Bid-Ask Spread %52.6844.3659.5459.5448.90
Gamma HHI0.090.050.210.080.05
Net GEX75.5M-68.0M180.2M94.7M45.1M
Net DEX-1.06B-2.02B-266.7M-720.0M-806.9M
Net VEX-10.6M-11.0M-10.3M-10.4M-10.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.570.301.170.680.53
Total Volume14,962.57,49329,02026,35012,201
Total OI203,352.5179,757236,250236,250202,702

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2023-12-01$547.35$530.0015.3%4.3%16.3%2.8%15.4%1.6%0.4%94.7M-720.0M-10.4M0.6859.5415,69210,658115,834120,416
2023-12-04$548.01$500.0015.0%5.0%15.7%0.5%18.0%2.0%2.3%137.1M-1.79B-10.6M1.0751.616,4826,91899,55495,609
2023-12-05$551.34$500.0015.6%5.2%15.7%5.0%18.6%1.5%2.2%158.7M-1.99B-10.9M0.6554.449,6046,207101,74198,533
2023-12-06$549.78$500.0015.0%5.1%15.4%0.6%19.2%1.9%2.5%156.9M-1.91B-11.0M1.1755.674,3995,162105,780101,461
2023-12-07$547.78$500.0015.4%5.1%15.4%3.4%18.3%1.9%2.5%144.8M-1.75B-11.0M0.5056.427,6413,818106,934101,886
2023-12-08$551.37$500.0015.3%5.0%15.5%3.1%17.7%1.7%2.6%180.2M-2.02B-10.9M0.5553.196,7783,746108,274102,634
2023-12-11$542.65$500.0017.6%5.3%16.6%21.1%18.4%2.6%0.4%114.0M-1.42B-10.7M0.4258.718,3373,539103,86299,373
2023-12-12$545.86$500.0017.6%5.0%16.8%21.2%17.5%2.0%-0.6%145.7M-1.66B-10.6M0.5457.584,8752,618105,739100,599
2023-12-13$548.13$500.0018.4%5.2%16.8%27.7%18.5%2.9%-0.5%161.6M-1.81B-10.5M0.5358.386,5143,483106,260101,573
2023-12-14$534.20$500.0019.7%5.6%19.2%37.7%19.3%2.0%-0.0%52.2M-858.6M-10.4M0.6650.4317,45811,562106,561102,254
2023-12-15$529.59$500.0019.9%5.6%19.4%39.2%19.8%2.1%-0.6%92.4M-548.6M-10.5M0.5158.3316,2238,329111,287104,874
2023-12-18$526.70$500.0019.6%5.5%19.3%36.8%19.7%2.5%0.2%5.5M-588.3M-10.3M0.5544.369,7715,34592,92586,832
2023-12-19$522.63$500.0019.4%5.5%19.5%35.1%18.9%2.0%-0.2%-5.9M-409.0M-10.4M0.3045.6215,5664,67097,00489,140
2023-12-20$518.33$500.0021.3%6.1%19.4%50.7%20.7%2.6%-1.0%-10.3M-266.7M-10.6M0.4948.4714,0876,880105,99391,177
2023-12-21$520.11$500.0020.8%6.0%19.1%45.9%20.7%1.6%-0.9%1.3M-406.8M-10.9M0.5250.698,9514,640110,46691,755
2023-12-22$520.34$500.0020.4%5.9%19.0%43.2%20.8%1.9%-0.6%-68.0M-440.7M-10.8M0.6849.049,0036,165112,66893,004
2023-12-26$520.34$500.0020.8%6.1%18.9%46.6%21.4%2.0%0.1%13.6M-473.9M-10.6M0.3749.486,3182,343104,65390,001
2023-12-27$522.11$500.0020.4%5.9%19.0%42.9%20.6%1.8%0.6%30.6M-585.8M-10.6M0.3352.356,7732,254107,35190,675
2023-12-28$525.80$500.0020.1%5.9%18.8%41.0%20.6%2.0%0.4%59.5M-793.7M-10.5M0.4350.299,9394,301108,46391,203
2023-12-29$526.23$500.0020.3%5.9%13.5%42.3%21.0%1.9%-0.4%45.1M-806.9M-10.5M0.5348.907,9624,239110,50892,194