UNH Options History — June 2025

In June 2025, UNH traded between $295.57 and $318.32. ATM implied volatility averaged 35.9%, placing in the 31.1% IV rank vs the trailing year. The 30-day expected move averaged 9.9%. IV traded below realized volatility by 18.3% (HV 20d: 54.2%). Max pain ranged from $302.50 to $320.00. Net GEX was positive for 20 of 20 trading days. Term structure was in contango for 17 of 20 days. Put/call ratio averaged 0.82.

Notable Days

2025-06-16: Highest Volume — 401,572 contracts
2025-06-30: Largest IV spike — 22.6% change
2025-06-30: Highest IV Rank — 51.2%
2025-06-02: Largest Expected Move — 11.9%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$305.38	$295.57	$318.32	$303.58	$311.41
Max Pain	$314.00	$302.50	$320.00	$320.00	$307.50
ATM IV	35.9%	31.3%	47.1%	42.5%	47.1%
Expected Move	9.9%	8.4%	11.9%	11.9%	8.6%
HV 20d	54.2%	22.8%	91.6%	91.0%	24.1%
HV 60d	78.2%	77.9%	78.5%	78.1%	78.5%
IV Rank	31.1%	22.5%	51.2%	43.5%	51.2%
IV Percentile	80.9%	57.9%	96.4%	94.8%	96.4%
Term Structure	5.1%	-2.3%	21.3%	4.1%	-2.3%
VWIV	36.0%	29.9%	42.8%	42.8%	31.9%
Skew 25d	1.3%	-0.6%	4.0%	-0.6%	0.6%
Skew 10d	2.9%	-1.0%	8.0%	-0.4%	8.0%
Call IV 25d	35.6%	30.9%	52.0%	41.7%	52.0%
Put IV 25d	36.9%	32.6%	52.6%	41.1%	52.6%
Bid-Ask Spread %	37.51	25.96	51.04	34.78	35.20
Gamma HHI	0.05	0.04	0.08	0.04	0.05
Net GEX	147.0M	27.3M	349.6M	123.9M	183.8M
Net DEX	-1.86B	-4.20B	192.8M	-1.49B	-3.41B
Net VEX	-52.5M	-55.7M	-49.8M	-52.8M	-54.9M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.82	0.22	3.00	0.35	0.62
Total Volume	219,708.1	98,249	401,572	298,493	137,909
Total OI	1,360,681.3	1,157,716	1,501,905	1,363,542	1,163,859

Daily Data (20 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
2025-06-02	$303.58	$320.00	42.5%	11.9%	91.0%	43.5%	42.8%	-0.6%	4.1%	123.9M	-1.49B	-52.8M	0.35	34.78	221,598	76,895	927,576	435,966
2025-06-03	$301.61	$320.00	38.3%	11.2%	90.4%	35.9%	40.6%	0.3%	0.4%	117.8M	-1.11B	-52.4M	0.34	30.76	131,178	45,065	964,164	450,111
2025-06-04	$301.20	$320.00	37.3%	10.6%	90.4%	34.1%	38.3%	0.2%	-0.1%	109.4M	-880.6M	-51.8M	0.40	25.96	122,492	48,941	975,202	461,362
2025-06-05	$295.57	$320.00	36.6%	10.9%	90.4%	33.0%	40.1%	0.6%	0.8%	27.3M	192.8M	-49.8M	0.37	40.36	159,383	58,845	996,869	472,046
2025-06-06	$303.13	$320.00	33.7%	10.0%	91.5%	27.8%	37.1%	1.5%	1.5%	164.0M	-1.28B	-51.7M	0.45	40.79	160,348	72,282	1,019,341	482,564
2025-06-09	$303.38	$320.00	36.4%	10.2%	91.6%	32.6%	37.4%	0.4%	0.5%	127.3M	-1.14B	-51.7M	0.40	33.02	116,880	46,651	935,023	441,542
2025-06-10	$302.86	$320.00	34.2%	10.1%	91.6%	28.6%	37.8%	0.9%	1.1%	137.7M	-1.07B	-52.4M	0.26	40.55	107,277	28,250	960,190	456,762
2025-06-11	$309.37	$310.00	36.1%	10.6%	63.3%	32.1%	38.9%	1.4%	0.8%	223.4M	-2.39B	-53.5M	0.30	34.73	206,843	61,218	984,135	464,146
2025-06-12	$318.32	$320.00	35.7%	10.2%	63.9%	30.5%	37.5%	0.4%	0.6%	349.6M	-4.20B	-55.7M	0.26	33.14	265,262	68,697	1,010,503	470,501
2025-06-13	$312.22	$320.00	35.5%	10.3%	46.7%	30.0%	36.7%	4.0%	0.8%	252.2M	-2.65B	-53.9M	0.22	44.90	242,462	53,682	1,020,078	474,744
2025-06-16	$306.63	$320.00	35.9%	10.4%	43.4%	30.9%	37.5%	1.8%	0.7%	127.4M	-1.19B	-53.3M	2.59	38.30	111,877	289,695	938,669	446,309
2025-06-17	$308.60	$310.00	34.3%	9.9%	32.6%	27.9%	36.0%	1.8%	0.5%	147.9M	-2.21B	-53.2M	2.60	51.04	75,392	196,180	959,245	438,968
2025-06-18	$308.57	$310.00	32.4%	9.3%	31.4%	24.4%	35.1%	1.6%	-0.1%	165.2M	-2.40B	-52.2M	3.00	34.11	81,681	245,345	969,343	432,342
2025-06-20	$302.95	$310.00	32.7%	9.3%	24.0%	25.0%	33.7%	2.6%	0.4%	46.5M	-1.39B	-50.8M	0.49	45.87	112,219	54,999	979,753	434,333
2025-06-23	$300.55	$310.00	32.3%	9.0%	22.8%	24.2%	32.3%	2.4%	17.1%	65.2M	-1.41B	-49.9M	0.64	33.23	103,332	66,179	811,687	346,029
2025-06-24	$305.45	$310.00	31.3%	8.7%	23.3%	22.5%	31.7%	1.7%	17.8%	126.7M	-2.30B	-52.2M	0.43	36.19	77,652	33,704	832,271	359,083
2025-06-25	$302.89	$305.00	31.9%	9.0%	23.5%	23.6%	32.5%	1.6%	21.3%	123.5M	-2.05B	-51.8M	0.48	40.08	66,194	32,055	852,108	362,331
2025-06-26	$301.50	$305.00	34.7%	8.4%	23.0%	28.7%	29.9%	1.8%	18.2%	94.6M	-1.78B	-51.5M	1.74	39.85	71,699	124,464	863,844	371,579
2025-06-27	$307.89	$302.50	38.4%	8.6%	24.1%	35.4%	31.4%	0.9%	18.1%	226.7M	-3.10B	-53.5M	0.52	37.37	144,571	74,766	874,854	374,194
2025-06-30	$311.41	$307.50	47.1%	8.6%	24.1%	51.2%	31.9%	0.6%	-2.3%	183.8M	-3.41B	-54.9M	0.62	35.20	84,894	53,015	815,282	348,577