Options Trading News

January 10, 2014  Fri 11:40 AM CT

A large trade is looking for UnitedHealth to hold current levels in coming weeks.

optionMONSTER systems detected the sale of more than 9,000 February 72 puts today, with the big block of 7,574 going for the bid price of $0.65. The volume eclipsed the previous open interest at that strike, as well as the total average volume in the name, showing clearly that this is a new position.

The put seller is looking for UNH to hold steady or rise through mid-February, though the trade can profit with UNH anywhere above $71.35 at that expiration. (See our Education section)

UNH is down 1.74 percent to $75.76. The health-benefits company was down near support at $70 less than a month ago but posted a new all-time closing high of $76.51 on Tuesday.
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As I stated in last week's article, a break out or a break down needs to have a couple things happen before it is considered a confirmed break out or break down. The only problem is that in today's market where things move much more quicker than they did just a few years ago, two days could wind up being the majority of the expected movement, if not the whole movement.

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