UNH Options History — April 2025

In April 2025, UNH traded between $410.06 and $600.30. ATM implied volatility averaged 35.6%, placing in the 65.2% IV rank vs the trailing year. The 30-day expected move averaged 10.1%. IV traded below realized volatility by 21.9% (HV 20d: 57.5%). Max pain ranged from $435.00 to $520.00. Net GEX was positive for 12 of 21 trading days. Term structure was in contango for 5 of 21 days. Put/call ratio averaged 0.73.

Notable Days

  • 2025-04-17: Highest Volume — 304,817 contracts
  • 2025-04-09: Largest IV drop — 24.0% change
  • 2025-04-04: Highest IV Rank — 100.0%
  • 2025-04-07: Largest Expected Move — 12.8%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$501.74$410.06$600.30$521.60$410.06
Max Pain$491.90$435.00$520.00$500.00$435.00
ATM IV35.6%30.5%47.0%36.0%32.3%
Expected Move10.1%8.7%12.8%9.4%9.6%
HV 20d57.5%16.8%100.2%16.8%99.6%
HV 60d44.5%29.9%61.9%30.1%61.7%
IV Rank65.2%45.7%100.0%80.2%51.4%
IV Percentile87.9%73.4%100.0%96.8%78.6%
Term Structure-1.1%-3.8%0.8%-1.7%0.6%
VWIV36.1%31.3%46.7%33.7%34.4%
Skew 25d5.8%2.8%12.8%4.0%3.1%
Skew 10d9.3%-13.5%27.3%7.6%-5.8%
Call IV 25d33.1%28.1%40.8%33.6%31.1%
Put IV 25d38.9%33.2%52.8%37.6%34.2%
Bid-Ask Spread %46.0134.0254.8550.1144.55
Gamma HHI0.060.030.230.040.05
Net GEX30.7M-68.1M136.7M55.7M-20.3M
Net DEX-1.27B-5.19B2.17B-1.86B1.08B
Net VEX-18.4M-20.9M-15.1M-18.1M-20.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.730.341.400.800.42
Total Volume60,691.42910,657304,81717,59671,333
Total OI306,243.333251,017414,229251,017414,229

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-04-01$521.60$500.0036.0%9.4%16.8%80.2%33.7%4.0%-1.7%55.7M-1.86B-18.1M0.8050.119,7837,813147,530103,487
2025-04-02$523.51$500.0035.3%9.5%16.8%77.1%34.3%5.6%-1.4%62.6M-1.94B-18.4M1.0849.325,1325,525150,073105,607
2025-04-03$543.31$500.0038.8%10.2%19.7%91.8%37.6%5.8%-2.9%97.6M-2.94B-18.6M1.4049.8317,10123,857152,241108,189
2025-04-04$533.48$510.0044.6%11.9%21.2%100.0%42.7%9.1%-3.8%42.2M-2.18B-19.7M0.8744.8315,75213,720153,906117,231
2025-04-07$522.98$510.0047.0%12.8%21.4%100.0%46.7%12.8%-2.2%34.1M-1.56B-19.3M0.8444.6014,12111,858146,017109,690
2025-04-08$549.22$510.0041.5%11.6%26.7%81.9%40.7%7.9%-2.3%77.4M-2.92B-19.3M0.7550.4820,48715,267152,244110,851
2025-04-09$572.59$510.0031.6%8.9%29.4%49.1%31.3%6.7%-0.6%108.4M-4.14B-17.5M0.7954.5019,12615,107155,744113,471
2025-04-10$594.81$510.0035.2%10.2%30.6%61.0%37.3%6.1%0.0%107.2M-5.02B-19.0M0.6952.7528,45519,631158,697118,400
2025-04-11$600.30$510.0034.9%9.7%30.6%60.1%35.8%9.4%-1.0%136.7M-5.19B-19.3M0.4745.3631,46414,760161,417126,352
2025-04-14$587.96$510.0031.7%9.0%32.1%49.7%35.1%5.9%0.7%78.4M-3.98B-18.6M0.9246.8112,01411,057146,712117,615
2025-04-15$584.63$520.0030.5%8.7%32.4%45.7%31.3%5.1%0.8%82.0M-3.86B-18.3M1.2649.395,5106,934150,917121,476
2025-04-16$584.18$520.0031.6%9.1%32.5%49.4%31.7%5.1%-2.0%77.5M-3.80B-18.7M0.6954.8518,34912,637151,976124,311
2025-04-17$452.58$520.0038.0%11.0%98.7%70.1%37.7%6.7%-1.7%-68.1M2.17B-15.1M0.7740.95171,994132,823158,640130,946
2025-04-21$427.25$500.0041.2%12.1%100.2%80.7%41.5%6.1%-2.5%-33.0M1.70B-16.2M0.6634.0259,45039,255176,957126,295
2025-04-22$426.04$490.0034.9%10.0%100.1%60.1%35.0%4.9%-1.1%-37.1M1.67B-16.8M0.5236.8753,00527,446202,906137,163
2025-04-23$427.26$470.0032.7%9.7%100.2%52.9%33.7%2.8%-0.7%-27.3M1.31B-17.7M0.3443.8745,57215,631220,725141,124
2025-04-24$425.33$465.0032.0%9.4%100.0%50.5%33.9%3.9%-1.3%-30.8M1.27B-17.7M0.8643.5734,66229,662230,940141,111
2025-04-25$418.02$450.0032.6%9.5%100.0%52.7%34.2%4.6%-1.0%-65.9M1.35B-18.0M0.5642.9179,96944,993244,598144,196
2025-04-28$420.49$450.0032.0%9.8%100.0%50.5%34.7%3.5%0.5%-5.4M858.0M-19.6M0.4041.5332,80212,979231,515139,696
2025-04-29$410.97$440.0033.3%9.9%99.5%54.8%35.3%2.9%-0.1%-26.1M1.26B-19.4M0.3445.0650,52816,956241,302144,613
2025-04-30$410.06$435.0032.3%9.6%99.6%51.4%34.4%3.1%0.6%-20.3M1.08B-20.9M0.4244.5550,31921,014262,692151,537