UNH Options History — March 2024

In March 2024, UNH traded between $471.64 and $493.67. ATM implied volatility averaged 22.4%, placing in the 62.1% IV rank vs the trailing year. The 30-day expected move averaged 6.7%. IV traded above realized volatility by 2.4% (HV 20d: 20.0%). Max pain ranged from $490.00 to $515.00. Net GEX was positive for 9 of 20 trading days. Term structure was in contango for 7 of 20 days. Put/call ratio averaged 0.65.

Notable Days

  • 2024-03-01: Highest Volume — 63,613 contracts
  • 2024-03-11: Largest IV spike — 9.6% change
  • 2024-03-25: Highest IV Rank — 79.3%
  • 2024-03-25: Largest Expected Move — 7.2%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$486.92$471.64$493.67$489.38$493.50
Max Pain$493.25$490.00$515.00$515.00$490.00
ATM IV22.4%20.6%24.5%20.6%22.8%
Expected Move6.7%6.0%7.2%6.0%6.9%
HV 20d20.0%16.5%21.7%19.0%16.5%
HV 60d21.7%21.2%22.2%21.2%21.4%
IV Rank62.1%46.5%79.3%46.5%65.5%
IV Percentile81.8%62.7%94.8%62.7%86.9%
Term Structure0.3%-1.8%4.3%0.1%-0.7%
VWIV23.7%21.5%25.3%21.5%24.6%
Skew 25d1.8%0.4%4.9%2.0%2.9%
Skew 10d3.0%1.3%5.0%3.2%5.0%
Call IV 25d21.8%19.6%24.2%20.1%21.0%
Put IV 25d23.6%21.8%25.6%22.1%23.9%
Bid-Ask Spread %48.1326.9960.5354.0644.73
Gamma HHI0.070.040.250.200.08
Net GEX-14.7M-103.1M47.8M-103.1M47.8M
Net DEX373.0M-209.6M1.47B1.03B-189.4M
Net VEX-13.5M-14.4M-11.9M-12.1M-14.2M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.650.401.330.510.45
Total Volume23,541.811,00363,61363,61318,008
Total OI206,475.75186,155229,368203,598202,652

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2024-03-01$489.38$515.0020.6%6.0%19.0%46.5%21.5%2.0%0.1%-103.1M1.03B-12.1M0.5154.0642,12321,49099,391104,207
2024-03-04$482.49$500.0021.5%6.9%19.2%54.0%23.8%1.6%1.9%-54.5M1.03B-12.2M0.4351.5717,1357,40896,676101,608
2024-03-05$472.54$500.0021.9%7.0%20.0%57.6%24.5%1.8%2.8%-70.9M1.47B-11.9M0.5450.7818,78110,135102,492104,078
2024-03-06$471.64$500.0021.5%6.9%19.5%54.0%24.3%1.3%2.4%-63.6M1.46B-12.1M0.4757.0118,0708,582109,527105,908
2024-03-07$478.00$500.0021.5%6.8%18.7%54.0%24.5%0.6%3.6%-36.5M1.10B-12.5M0.4347.2824,05210,383112,456107,917
2024-03-08$478.24$490.0021.1%6.8%18.6%50.7%24.1%1.3%4.3%-37.1M1.05B-13.0M0.4552.6526,64511,859115,920111,157
2024-03-11$489.24$490.0023.1%6.7%20.9%67.4%23.7%0.4%-0.3%8.8M118.4M-13.4M0.4053.9333,89613,473105,496100,611
2024-03-12$491.24$490.0022.7%6.6%21.0%64.2%23.6%2.4%-0.1%7.4M631.8K-13.7M1.2052.388,0929,745118,952102,065
2024-03-13$487.88$490.0023.9%6.6%21.0%74.4%23.4%2.7%-0.1%-5.9M218.1M-14.1M1.3160.5312,41516,255119,539103,404
2024-03-14$488.23$490.0023.0%6.5%21.0%66.6%22.9%2.2%-1.8%-17.4M238.5M-14.3M1.3353.926,4268,529121,303106,696
2024-03-15$489.69$490.0022.6%6.4%20.8%63.1%23.0%1.8%0.1%-83.0M121.8M-14.3M0.6757.698,7095,870122,559106,809
2024-03-18$487.53$490.0021.8%6.5%20.7%56.5%22.9%1.6%-0.4%-2.2M152.1M-13.8M0.5744.318,1274,60197,63788,518
2024-03-19$493.14$490.0021.7%6.3%21.3%55.8%22.9%1.4%-0.6%20.1M-152.4M-14.1M0.4742.739,0074,267100,06890,096
2024-03-20$493.67$490.0022.5%6.5%21.3%62.4%23.1%1.4%-0.9%30.4M-209.6M-14.1M0.7046.137,3645,186102,98490,062
2024-03-21$492.44$490.0022.8%6.5%21.0%64.6%23.2%1.5%-0.2%27.3M-98.9M-14.3M0.5342.127,7144,078104,57191,321
2024-03-22$490.75$490.0022.9%6.6%20.8%65.5%23.4%1.5%-1.1%26.4M25.6M-14.0M0.6542.729,5146,195105,20192,694
2024-03-25$484.51$490.0024.5%7.2%21.0%79.3%25.3%1.9%-1.4%-25.3M339.2M-13.8M0.7542.8110,8818,175100,08089,708
2024-03-26$491.84$490.0023.5%7.0%21.7%71.1%24.5%4.9%-0.5%15.8M-125.9M-14.4M0.6138.1610,3236,320104,27191,628
2024-03-27$492.51$490.0023.1%6.9%16.8%68.1%24.6%1.7%-1.1%22.3M-121.4M-14.0M0.5726.997,0193,984106,49392,760
2024-03-28$493.50$490.0022.8%6.9%16.5%65.5%24.6%2.9%-0.7%47.8M-189.4M-14.2M0.4544.7312,4115,597108,88193,771