UNH Options Signal Bullish Bias: Calls at $330–$350 Highlight Near-Term Upside Potential

• UnitedHealth (UNH) trades at $326.77, down 0.9% from its 52-week high of $366.50
• Call open interest dominates at $330–$360 strikes, with 2448 contracts at $330 (Friday expiry)
• Institutional buyers like OMERS boosted holdings by 54%, signaling confidence in Hemsley’s turnaround

Here’s the takeaway: UNH’s options market is clearly leaning bullish, with heavy call positioning at key strikes. The stock’s technicals and recent $1B Latin America divestiture create a compelling case for upside, but short-term volatility remains a factor.

Bullish Sentiment Locked in $330–$350 Calls

Let’s break down the options data. For Friday’s expiry (Dec 5), the top call open interest piles up at $330, $335, and $340—strikes that sit just above today’s price. This isn’t random. Traders are betting on a rebound to test the 30-day moving average at $336.88. The put/call ratio of 0.48 (calls > puts) reinforces this bias, though the $310–$320 put strikes show some hedging activity. No block trades to worry about, but the call-heavy profile suggests big players are pricing in a near-term pop.

Divestiture News Fuels Strategic Clarity

The $1B sale of Banmedica isn’t just a line item—it’s a strategic pivot. CEO Hemsley’s focus on core markets aligns with the stock’s long-term ranging pattern (200D MA at $366.50). While the 2024 losses cast a shadow, the recent earnings forecast raise to $16.25/share and dividend boost ($8.84 annualized) have institutional buyers like OMERS doubling down. This news validates the options market’s optimism: a leaner UNH could outperform in 2026.

Actionable Trades for Today’s Move

For options: Buy UNH20251205C330 (Friday expiry, $330 strike) if the price breaks above $327.50. For a longer play, UNH20251212C340 (next Friday) offers leverage if support at $320.84 holds. Stock traders: Consider entries near $320.84 (30D support) with a target at $335 (Bollinger Upper Band at $342.12). If the price cracks below $310.11 (200D support), UNH20251205P310 puts could hedge downside risk.

Volatility on the Horizon

The next 10 days will test UNH’s resolve. A break above $335 could reignite the 30D MA as a floor, while a drop below $315 might trigger deeper selling. The options market’s focus on $330–$350 calls suggests a high conviction in the former scenario. Combine this with Hemsley’s restructuring momentum, and the case for a $340+ rebound feels more like a probability than a possibility.