Someone with a lot of money to spend has taken a bearish stance on UnitedHealth Group UNH.
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with UNH, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 15 options trades for UnitedHealth Group.
This isn't normal.
The overall sentiment of these big-money traders is split between 40% bullish and 60%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $34,008, and 14, calls, for a total amount of $598,790.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $400.0 to $600.0 for UnitedHealth Group over the last 3 months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of UnitedHealth Group stands at 536.38, with a total volume reaching 633.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in UnitedHealth Group, situated within the strike price corridor from $400.0 to $600.0, throughout the last 30 days.
UnitedHealth Group Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| UNH | CALL | TRADE | BULLISH | 01/17/25 | $490.00 | $86.4K | 118 | 9 |
| UNH | CALL | SWEEP | NEUTRAL | 11/17/23 | $530.00 | $73.4K | 1.1K | 49 |
| UNH | CALL | SWEEP | BEARISH | 11/17/23 | $530.00 | $48.6K | 1.1K | 207 |
| UNH | CALL | SWEEP | BEARISH | 01/19/24 | $530.00 | $47.6K | 1.3K | 21 |
| UNH | CALL | SWEEP | BULLISH | 06/21/24 | $470.00 | $45.7K | 105 | 5 |
Current Position of UnitedHealth Group
- Trading volume stands at 857,242, with UNH's price down -0.09%, positioned at $533.0. RSI indicators show the stock to be may be approaching overbought. Earnings announcement expected in 66 days.
What The Experts Say On UnitedHealth Group:
- Morgan Stanley persists with their Overweight rating on UnitedHealth Group, maintaining a target price of $579.
- Maintaining their stance, Jefferies continues to hold a Hold rating for UnitedHealth Group, targeting a price of $531.
- In a positive move, UBS has upgraded their rating to Buy and adjusted the price target to $640.
- Consistent in their evaluation, RBC Capital keeps a Outperform rating on UnitedHealth Group with a target price of $596.
- Maintaining their stance, Piper Sandler continues to hold a Overweight rating for UnitedHealth Group, targeting a price of $584.
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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