UNH UnitedHealth (UNH) options provide defensive healthcare exposure with moderate liquidity, low-to-moderate volatility, and sensitivity to healthcare policy.

UNH is the largest health insurer by market cap. Options tend to have lower IV than most stocks, with regulatory and policy changes being the primary volatility catalysts.

UNH Options Characteristics

Avg Daily Volume

150K+ contracts

Typical Spread

$0.10-0.30

Typical IV Rank

15-30%

Expirations

Weekly, Monthly, Quarterly, LEAPS

Price Range

$450-600

Correlation

Moderate correlation with XLV and healthcare sector

Best Strategies for UNH

Bull Call Spreads

Capital-efficient healthcare exposure

Iron Condors

Range-bound income on low-IV name

Put Credit Spreads

Bullish income with defensive characteristics

LEAPS Calls

Long-term healthcare sector thesis

Collar Strategy

Protect concentrated healthcare position

Healthcare Defensive Moat

UNH offers defensive positioning with lower IV than tech stocks. Healthcare policy changes and medical loss ratio trends drive the stock. Spread strategies needed due to high share price.

UNH Options FAQ

Is UNH good for options income?

UNH has lower IV (15-30% rank), meaning premium is modest but win rates tend to be high. Best for conservative accounts seeking steady income. Covered calls and put credit spreads work well.

What drives UNH options volatility?

Healthcare policy changes (Medicare Advantage rates, PBM reform), medical loss ratio trends, and quarterly earnings. Regulatory headlines can create sudden IV spikes in an otherwise low-vol name.