Deep-pocketed investors have adopted a bearish approach towards UnitedHealth Group UNH, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in UNH usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 38 extraordinary options activities for UnitedHealth Group. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 13% leaning bullish and 86% bearish. Among these notable options, 25 are puts, totaling $2,447,823, and 13 are calls, amounting to $489,328.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $440.0 to $600.0 for UnitedHealth Group over the last 3 months.
Volume & Open Interest Trends
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in UnitedHealth Group's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to UnitedHealth Group's substantial trades, within a strike price spectrum from $440.0 to $600.0 over the preceding 30 days.
UnitedHealth Group Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| UNH | PUT | TRADE | BULLISH | 04/19/24 | $500.00 | $735.0K | 1.8K | 11 |
| UNH | PUT | SWEEP | NEUTRAL | 03/01/24 | $522.50 | $384.3K | 283 | 132 |
| UNH | PUT | SWEEP | NEUTRAL | 05/17/24 | $480.00 | $187.1K | 227 | 128 |
| UNH | PUT | SWEEP | NEUTRAL | 03/01/24 | $500.00 | $179.9K | 789 | 399 |
| UNH | PUT | TRADE | BULLISH | 06/21/24 | $470.00 | $131.6K | 869 | 100 |
About UnitedHealth Group
UnitedHealth Group is one of the largest private health insurers, providing medical benefits to about 53 million members globally, including 5 million outside the U.S. as of mid-2023. As a leader in employer-sponsored, self-directed, and government-backed insurance plans, UnitedHealth has obtained massive scale in managed care. Along with its insurance assets, UnitedHealth's continued investments in its Optum franchises have created a healthcare services colossus that spans everything from medical and pharmaceutical benefits to providing outpatient care and analytics to both affiliated and third-party customers.
UnitedHealth Group's Current Market Status
- Trading volume stands at 3,338,251, with UNH's price down by -4.93%, positioned at $488.09.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 44 days.
Expert Opinions on UnitedHealth Group
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $605.0.
- An analyst from Stephens & Co. has revised its rating downward to Overweight, adjusting the price target to $605.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for UnitedHealth Group, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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