Deep-pocketed investors have adopted a bullish approach towards UnitedHealth Group (NYSE: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 40 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 47% leaning bullish and 37% bearish. Among these notable options, 16 are puts, totaling $1,031,010, and 24 are calls, amounting to $1,098,039.
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 $490.0 to $820.0 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 1071.0, with a total volume reaching 7,195.00. 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 $490.0 to $820.0, throughout 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 | PUT | SWEEP | BEARISH | 07/26/24 | $9.0 | $8.1 | $9.0 | $565.00 | $222.2K | 203 | 342 |
| UNH | CALL | SWEEP | BULLISH | 01/16/26 | $12.45 | $11.05 | $12.25 | $820.00 | $161.7K | 13.1K | 36 |
| UNH | CALL | SWEEP | BEARISH | 08/23/24 | $6.65 | $5.8 | $6.65 | $605.00 | $106.4K | 10 | 4 |
| UNH | PUT | TRADE | NEUTRAL | 08/16/24 | $6.7 | $6.15 | $6.45 | $550.00 | $98.6K | 204 | 203 |
| UNH | CALL | SWEEP | BULLISH | 08/16/24 | $10.65 | $10.15 | $10.3 | $590.00 | $96.8K | 1.1K | 95 |
About UnitedHealth Group
UnitedHealth Group is one of the largest private health insurers, providing medical benefits to about 50 million members globally, including 1 million outside the US as June 2024. 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.
Following our analysis of the options activities associated with UnitedHealth Group, we pivot to a closer look at the company's own performance.
Present Market Standing of UnitedHealth Group
- With a trading volume of 2,511,383, the price of UNH is down by -1.2%, reaching $566.41.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 85 days from now.
What Analysts Are Saying About UnitedHealth Group
5 market experts have recently issued ratings for this stock, with a consensus target price of $618.6.
- An analyst from Jefferies has elevated its stance to Buy, setting a new price target at $647.
- Maintaining their stance, an analyst from Argus Research continues to hold a Buy rating for UnitedHealth Group, targeting a price of $600.
- An analyst from Cantor Fitzgerald downgraded its action to Overweight with a price target of $591.
- Maintaining their stance, an analyst from RBC Capital continues to hold a Outperform rating for UnitedHealth Group, targeting a price of $615.
- Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for UnitedHealth Group, targeting a price of $640.
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.