UNH Options History — April 2026

In April 2026, UNH traded between $273.61 and $346.86. ATM implied volatility averaged 38.2%, placing in the 21.1% IV rank vs the trailing year. The 30-day expected move averaged 10.9%. IV traded below realized volatility by 1.6% (HV 20d: 39.8%). Max pain ranged from $290.00 to $300.00. Net GEX was positive for 14 of 14 trading days. Term structure was in contango for 0 of 14 days. Put/call ratio averaged 0.60.

Notable Days

2026-04-21: Highest Volume — 393,110 contracts
2026-04-21: Largest IV drop — 15.3% change
2026-04-01: Highest IV Rank — 42.8%
2026-04-01: Largest Expected Move — 13.8%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$307.83	$273.61	$346.86	$273.61	$346.86
Max Pain	$297.14	$290.00	$300.00	$290.00	$300.00
ATM IV	38.2%	30.6%	48.0%	48.0%	30.6%
Expected Move	10.9%	8.8%	13.8%	13.8%	8.8%
HV 20d	39.8%	28.0%	45.1%	28.0%	45.1%
HV 60d	55.4%	52.7%	57.5%	52.9%	57.5%
IV Rank	21.1%	4.3%	42.8%	42.8%	4.3%
IV Percentile	53.6%	6.3%	89.3%	89.3%	6.3%
Term Structure	-1.6%	-3.7%	-0.3%	-3.0%	-0.7%
VWIV	38.0%	31.4%	47.4%	47.4%	31.4%
Skew 25d	4.1%	2.8%	5.7%	5.4%	3.1%
Skew 10d	8.2%	5.1%	11.5%	9.7%	5.1%
Call IV 25d	36.6%	30.2%	46.1%	45.5%	30.2%
Put IV 25d	40.7%	33.3%	51.1%	50.9%	33.3%
Bid-Ask Spread %	16.69	9.06	25.11	9.06	17.84
Gamma HHI	0.06	0.04	0.08	0.04	0.07
Net GEX	138.6M	37.2M	240.9M	64.4M	240.9M
Net DEX	-4.35B	-9.14B	-214.4M	-214.4M	-9.14B
Net VEX	-57.2M	-58.9M	-55.0M	-55.0M	-58.7M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.60	0.37	0.93	0.77	0.54
Total Volume	121,360.5	54,844	393,110	71,385	393,110
Total OI	1,286,466.786	1,193,022	1,333,091	1,280,221	1,262,034

Daily Data (14 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
2026-04-01	$273.61	$290.00	48.0%	13.8%	28.0%	42.8%	47.4%	5.4%	-3.0%	64.4M	-214.4M	-55.0M	0.77	9.06	40,421	30,964	782,540	497,681
2026-04-02	$276.74	$290.00	47.7%	13.7%	28.3%	42.2%	44.6%	5.0%	-3.7%	72.5M	-513.4M	-55.4M	0.54	17.74	47,378	25,609	790,492	508,685
2026-04-06	$280.99	$290.00	46.8%	13.4%	28.9%	40.1%	44.1%	4.3%	-0.7%	37.2M	-855.5M	-55.7M	0.54	17.65	52,855	28,564	763,832	487,194
2026-04-07	$308.00	$290.00	39.8%	11.4%	43.6%	24.7%	38.7%	5.7%	-2.1%	159.4M	-4.92B	-58.9M	0.53	12.13	158,841	83,428	780,925	499,608
2026-04-08	$306.19	$300.00	36.7%	10.5%	43.6%	17.9%	35.5%	4.7%	-1.8%	142.0M	-4.37B	-57.2M	0.64	17.25	56,797	36,540	791,400	509,742
2026-04-09	$307.25	$300.00	35.6%	10.2%	43.6%	15.5%	35.0%	4.4%	-1.7%	150.6M	-4.52B	-56.5M	0.69	21.62	32,406	22,438	799,246	518,392
2026-04-10	$304.68	$300.00	35.2%	10.1%	42.2%	14.6%	34.2%	4.0%	-1.1%	143.6M	-4.05B	-56.1M	0.54	14.08	48,197	26,120	801,514	521,931
2026-04-13	$311.23	$300.00	35.5%	10.2%	42.6%	15.1%	36.7%	4.3%	-0.9%	124.6M	-4.36B	-56.5M	0.64	17.78	48,350	31,016	762,472	495,800
2026-04-14	$315.44	$300.00	35.4%	10.2%	42.5%	15.1%	35.7%	4.1%	-0.6%	160.6M	-5.20B	-58.2M	0.55	21.84	59,896	32,895	781,293	505,058
2026-04-15	$314.63	$300.00	36.0%	10.3%	42.6%	16.3%	36.3%	3.1%	-1.5%	153.1M	-5.07B	-57.8M	0.67	13.47	34,607	23,048	788,809	516,078
2026-04-16	$317.24	$300.00	35.9%	10.3%	42.2%	16.2%	37.4%	3.4%	-0.3%	170.3M	-5.51B	-58.4M	0.38	16.61	56,361	21,577	796,783	522,913
2026-04-17	$323.59	$300.00	35.1%	10.1%	42.4%	14.4%	36.7%	3.6%	-3.0%	199.1M	-6.83B	-58.4M	0.37	25.11	105,875	39,579	803,395	529,696
2026-04-20	$323.17	$300.00	36.1%	10.4%	41.4%	16.6%	38.0%	2.8%	-1.5%	122.3M	-5.38B	-57.8M	0.93	11.54	83,901	78,274	725,980	467,042
2026-04-21	$346.86	$300.00	30.6%	8.8%	45.1%	4.3%	31.4%	3.1%	-0.7%	240.9M	-9.14B	-58.7M	0.54	17.84	254,694	138,416	757,805	504,229