Shares of UnitedHealth Group Inc (NYSE:UNH) were last seen down 0.5% to trade at $364.11, after the company announced third-quarter results of $2.92 per share on $113.2 billion in revenue, the former beating estimates and the latter falling short. The insurance giant hiked its 2025 profit forecast, however, citing hopes of further growth in the coming year.
UNH remains down 28% year to date, with overhead pressure at $375 keeping a lid on its earlier gains. The $350 level has moved in as a floor of support in October though, with the equity's quarterly lead now up 6%.
Calls have been popular over the last 10 weeks. This is per UNH's 50-day call/put volume ratio of 2.98 over at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks higher than all other readings from the past year.
Options traders have jumped aboard the equity today already, with 133,000 calls and 60,000 puts across the tape so far, double the average daily pace. Most popular are the weekly 10/31 370- and 400-strike calls, with new positions opening at both.
