Option traders moderately bearish in UnitedHealth (UNH), with shares down $6.16 near $383.08. Options volume relatively light with 44k contracts traded and calls leading puts for a put/call ratio of 0.72, compared to a typical level near 0.48. Implied volatility (IV30) is higher by 0.4 points near 27.93,in the lowest 10% of observations over the past year, suggesting an expected daily move of $6.74. Put-call skew steepened, indicating increased demand for downside protection.
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