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 22 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 45% leaning bullish and 54% bearish. Among these notable options, 5 are puts, totaling $383,542, and 17 are calls, amounting to $1,181,592.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $460.0 to $550.0 for UnitedHealth Group over the last 3 months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for UnitedHealth Group's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of UnitedHealth Group's whale activity within a strike price range from $460.0 to $550.0 in the last 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 | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| UNH | CALL | SWEEP | BULLISH | 05/17/24 | $3.05 | $3.05 | $3.05 | $520.00 | $171.1K | 773 | 123 |
| UNH | PUT | SWEEP | NEUTRAL | 03/21/25 | $30.4 | $29.5 | $30.02 | $480.00 | $131.8K | 0 | 0 |
| UNH | CALL | SWEEP | BULLISH | 06/21/24 | $21.3 | $21.15 | $21.3 | $490.00 | $123.5K | 2.2K | 198 |
| UNH | CALL | SWEEP | BEARISH | 05/17/24 | $11.9 | $11.5 | $11.5 | $500.00 | $119.6K | 2.0K | 671 |
| UNH | CALL | SWEEP | BULLISH | 06/21/24 | $21.05 | $21.05 | $21.05 | $490.00 | $113.6K | 2.2K | 438 |
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.
In light of the recent options history for UnitedHealth Group, it's now appropriate to focus on the company itself. We aim to explore its current performance.
UnitedHealth Group's Current Market Status
- With a volume of 2,768,431, the price of UNH is up 4.12% at $498.74.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 85 days.
What Analysts Are Saying About UnitedHealth Group
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $564.8.
- Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for UnitedHealth Group, targeting a price of $560.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for UnitedHealth Group, targeting a price of $584.
- An analyst from Wells Fargo has decided to maintain their Overweight rating on UnitedHealth Group, which currently sits at a price target of $525.
- An analyst from RBC Capital persists with their Outperform rating on UnitedHealth Group, maintaining a target price of $555.
- Reflecting concerns, an analyst from Truist Securities lowers its rating to Buy with a new price target of $600.
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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