Deep-pocketed investors have adopted a bullish 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 50% leaning bullish and 50% bearish. Among these notable options, 10 are puts, totaling $548,302, and 12 are calls, amounting to $807,002.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $340.0 to $670.0 for UnitedHealth Group over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for UnitedHealth Group options trades today is 235.0 with a total volume of 1,266.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for UnitedHealth Group's big money trades within a strike price range of $340.0 to $670.0 over the last 30 days.
UnitedHealth Group Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| UNH | CALL | SWEEP | BEARISH | 03/15/24 | $590.00 | $258.2K | 236 | 343 |
| UNH | CALL | SWEEP | NEUTRAL | 06/21/24 | $420.00 | $100.9K | 59 | 17 |
| UNH | PUT | SWEEP | BULLISH | 03/15/24 | $560.00 | $74.4K | 155 | 141 |
| UNH | PUT | SWEEP | BULLISH | 03/15/24 | $560.00 | $74.3K | 155 | 141 |
| UNH | CALL | SWEEP | BEARISH | 06/21/24 | $340.00 | $65.8K | 18 | 4 |
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.
Where Is UnitedHealth Group Standing Right Now?
- Currently trading with a volume of 1,160,269, the UNH's price is down by -0.56%, now at $547.19.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 37 days.
What Analysts Are Saying About UnitedHealth Group
In the last month, 5 experts released ratings on this stock with an average target price of $577.0.
- An analyst from RBC Capital downgraded its action to Outperform with a price target of $596.
- In a cautious move, an analyst from Stephens & Co. downgraded its rating to Overweight, setting a price target of $585.
- In a cautious move, an analyst from Cantor Fitzgerald downgraded its rating to Overweight, setting a price target of $591.
- An analyst from Jefferies persists with their Hold rating on UnitedHealth Group, maintaining a target price of $503.
- An analyst from Truist Securities has revised its rating downward to Buy, adjusting the price target to $610.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for UnitedHealth Group with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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