Options Traders Make Big Bets As UnitedHealth Tops Q2 Expectations

UnitedHealth Group Incorporated UNH released its quarterly results on Friday, reporting nearly $5.5 billion, up 8% Y/Y in Q2 profits

The company disclosed Q2 FY23 sales of $92.9 billion, up almost 16% Y/Y, beating the consensus of $91 billion. Adjusted EPS of $6.14 increased 14% Y/Y, surpassing the consensus of $6.01.

On CNBC’s "Options Action," Mike Khouw of Optimize Advisors said UnitedHealth traded at 2.6x its average daily options volume and was the busiest name in healthcare on Thursday.

Options markets are implying a move of +/-3.5% by the end of Friday.

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There were buyers of 5,037 of the July 14 weekly 440-puts at an average price of $3.65 per contract, Khouw mentioned.

UBS maintained UnitedHealth Group with a Neutral and lowered the price target from $550 to $510, while Wells Fargo maintained the stock with an Overweight and cut the price target from $616 to $561.

Price Action: UnitedHealth shares were up 7.04% to $479.24 at the time of publication on Friday.

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