Options Traders Target UnitedHealth Stock Despite Steep 2025 Losses

The stock is attempting to recover from two major bear gaps and a multi-year low

Jake Scott

Deputy Editor

Jun 2, 2025 at 11:42 AM

Shares of UnitedHealth Group Inc (NYSE:UNH) are struggling in 2025, down 39.1% year-to-date. Soaring medical costs -- especially within its Medicare Advantage plans -- and the surprise exit of CEO Andrew Witty have weighed heavily on the healthcare giant. But despite the turmoil, options traders are staying active.

UNH just reappeared on Senior Quantitative Analyst Rocky White's list of equities with the highest options volume over the past two weeks. Specifically, 3,313,688 calls and 4,843,914 puts crossed the tape in the last 10 sessions, with the weekly 5/23 300-strike call emerging as the most popular contract.

Most Active Options UNH June 022025

Shares were last seen 1.9% higher at $307.50, on track for a fourth-straight daily gain. UnitedHealth stock is attempting to rebound from its May 16 dip to $269.13 -- its lowest level since April 2020 -- following two massive bear gaps in April and early May.

UNH Chart June 022025

Plus, the stock's Schaeffer's Volatility Scorecard (SVS) ranks at 95 out of a possible 100. This suggests UNH usually exceeded options traders' annual volatility expectations.

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