UNH options: $42M premium turnover into 2026-07-17; largest line UNH261218C00390000 $3MUNH 期权异动：期权成交额约 $42M，到期 2026-07-17，最大合约 UNH261218C00390000 约 $3M
Options Flow Snapshot
On July 14, 2026, UnitedHealth Group (UNH) recorded 24,780 total listed options contracts traded, with total premium turnover of ~$42.3 million, equal to 2.6% of the underlying stock’s daily dollar volume. A total of 592 contracts traded within the near-the-money window, with 14,639 call contracts and 10,141 put contracts, for a call-to-put volume ratio of ~1.44. The most active single contract was UNH261218C00390000, a call option with a $390 strike price expiring December 18, 2026, with 420 contracts traded and ~$2.65 million in premium turnover. For the nearest expiration (July 17, 2026), the ATM straddle implied a ~6.5% stock price move, with average near-the-money call IV at 78.1% and put IV at 80.8%, for a put-call IV skew of ~2.65 percentage points.
Signal Read-Through
This signal combines event-risk pricing and concentrated options volume. Key traits include: first, the near-term ATM straddle pricing in a 6.5% price move aligns with the upcoming Q2 2026 earnings report on July 16, reflecting market expectations of significant post-earnings price action. Second, higher put IV than call IV signals elevated demand for downside protection. Third, the most active contract is a far-out December 2026 deep out-of-the-money call option, suggesting long-term positioning activity.
Fundamental and Event Cross-Check
1. Earnings alignment: UNH’s Q2 2026 earnings are scheduled for July 16, 2026, and the July 14 options activity directly maps to this event, with Investopedia publishing an earnings preview the same day.
2. Institutional and insider activity: As of December 31, 2025, institutions held 82.7% of UNH’s floating stock, with no significant shifts in analyst rating distributions since June 2026. On July 6, 2026, multiple directors received equity awards via Form 4 filings, with no open-market stock transactions reported.
Follow-Up Markers
This signal only reflects options market pricing and volume concentration, and does not confirm the establishment of large directional positions or predict actual earnings performance. Key items to monitor include the actual Q2 2026 EPS and revenue figures released on July 16, as well as post-earnings changes in UNH options open interest and trading volume.
期权成交结构
2026年7月14日，联合健康集团（UNH）上市期权总成交量达24780张合约，总权利金成交额约4231万美元，占当日股票成交额的2.6%。近价内期权窗口内共成交592张合约，看涨期权14639张、看跌期权10141张，看涨看跌成交量比约1.44。当日最活跃合约为UNH261218C00390000（看涨期权，行权价390美元，2026年12月18日到期），成交量420张，权利金约265万美元。临近7月17日到期的期权中，ATM跨式期权隐含股价波动约6.5%，近价内看涨期权平均隐含波动率78.1%，看跌期权80.8%，看跌看涨波动率价差约2.65个百分点。
信号含义
本次信号属于事件风险定价+成交量集中信号：一是临近7月16日二季度财报发布，ATM期权已定价6.5%的股价波动，反映市场对财报前后大幅波动的预期；二是看跌期权隐含波动率高于看涨期权，显示下行保护需求；三是最大活跃合约为远月深度虚值看涨期权，暗示长期头寸布局。
基本面与事件交叉验证
1. 财报节点匹配：UNH将于7月16日发布二季度财报，当日期权活动与该事件高度相关，Investopedia同日发布财报前瞻。
2. 持仓与评级：截至2025年底，机构持有82.7%流通股，6月以来分析师评级分布无显著调整；7月6日多名董事通过Form 4备案获得股权激励，无二级市场交易行为。
后续关注
本次信号仅反映期权市场成交与定价行为，无法证明大额头寸建立或预判财报实际表现。需重点关注7月16日发布的二季度EPS和营收实际数据，以及财报发布后UNH期权的持仓与成交量变化。
This analysis was generated by InvestLog AI based on SEC filings, Form 4 insider transactions, Form 144 planned-sale notices, 13F institutional holdings, analyst ratings, and market data. It is for informational purposes only and does not constitute investment advice.这篇研究由 InvestLog AI 基于 SEC 披露、Form 4 内部人交易、Form 144 计划减持、13F 机构持仓、分析师评级和市场数据生成。内容仅供参考，不构成投资建议。