UNH Options Signal Bullish Bias: Key Strikes and Trade Setups for 2026

• UNH trades at $330.86, down 0.39% from open but holds above 30D support at $323.50.
• Options market favors bulls: Put/Call OI ratio at 0.526, with heavy call OI at $340–$350 strikes.
• Institutional buying in Q4 and a 2.7% dividend yield hint at undervaluation ahead of 2026.

Here’s the thing: UNH’s options market is whispering bullish—really bullish. Call open interest (OI) at the $340 and $350 strikes for this Friday’s expiration dwarfs put activity, while technicals suggest a potential rebound. But let’s dig into why this matters for your portfolio.

Bullish Sentiment Locked in OTM Calls

The options chain tells a clear story: traders are pricing in a rally. For Friday’s expiration (Jan 2, 2026), the UNH20260102C340 and UNH20260102C350 calls lead the pack with 4,073 and 2,792 contracts of open interest, respectively. That’s not just noise—it’s a bet that UNH will break above its 30D moving average ($327.28) and test the $342.15 upper Bollinger Band.

On the downside, puts at the $315 strike (3,101 OI) act as a floor. If UNH dips below $330.30 (today’s low), that level could trigger stop-losses or short-covering. But the 200D support at $302.88 feels too far to matter in the near term.

News and Dividends Fuel the Narrative

Institutional investors added 176% more shares in Q4, and the $2.21 quarterly dividend (46% payout ratio) sweetens the long-term case. Yet the stock closed 2025 down 31.5%, creating a contrarian buying opportunity. Analysts argue the 20.3x forward P/E is cheap for a healthcare giant with $22B in annual revenue.

But here’s the catch: The RSI at 58.84 and MACD (-0.47) suggest momentum is neutral. UNH isn’t screaming higher—it’s positioning for a move. If the 100D MA ($331.01) holds, the path of least resistance is up.

Trade Setups: Calls, Puts, and Price Levels

For options players:

• Bullish play: Buy UNH20260102C340 (Jan 2 expiry) if UNH closes above $333.30 today. Target $345+ by Jan 2.
• Bearish hedge: Buy UNH20260102P315 if price drops below $328.50. Protect against a 3% pullback.

For stock buyers:

• Entry near $323.50 (30D support) with a stop below $320. Target $335–$340 if RSI crosses 60.
• Aggressive entry: $330.79 (middle Bollinger Band) with a 3% stop.

Volatility on the Horizon

The next two weeks will test UNH’s resolve. A break above $342.15 could ignite a rally toward the 200D MA ($350.24)—a level that hasn’t been touched since mid-2024. Conversely, a close below $324.15 would validate bearish concerns. Either way, the options market has already priced in direction. Your job? Decide which side of the trade you want to own.