UnitedHealth Group (UNH) saw a notable call sweep trade with a February 20, 2026 expiration at the $190 strike price. The trade size totaled 172 contracts at an average price of $117.50 per contract. Total premium committed to the trade came out to approximately $2 million. With the stock trading near $305.41 at the time, this deems the option a deep in-the-money call.
At the time of the trade, total daily volume (172 contracts) was nearly equal to the open interest (185 contracts). This yielded a V/OI ratio of ~0.93. Given the long-dated 2026 expiration (about 6 months out), this order flow can be categorized as a LEAPS (Long-Term Equity Anticipation Securities).
Volume and Open Interest Data
The February 20, 2026 UNH $190 call saw a large spike in activity on August 26th, 2025. 174 contracts traded hands against an open interest of 185 contracts. No activity was recorded the previous trading session. This produces a very high V/OI ratio of ~0.94. The contract closed at $120.75 with an implied volatility of 48.05%.
What’s Happening with UNH
UnitedHealth Group (UNH) has recently garnered significant attention in financial markets due to both its evolving business operations and a prominent new investor. In August 2025, shares of UnitedHealth surged almost 14% following the announcement that Warren Buffett’s Berkshire Hathaway acquired over 5 million shares. This lot size roughly represents a $1.6 billion stake, making UNH the 18th largest position in Berkshire’s portfolio. This “Buffett Bounce” has sparked renewed optimism among investors, who believe the company’s long-term potential may be undervalued despite headwinds such as rising healthcare expenses, regulatory scrutiny, and a decline in government plan enrollments over the past year.
UnitedHealth has also been working to address challenges related to reimbursement policies and is actively adjusting payment models through its Optum Rx segment. Although analysts caution that a full recovery may be gradual, Buffett’s investment is widely seen as a strong vote of confidence in UNH’s ability to navigate industry shifts and return to its historical pattern of delivering growth.
About UNH
UnitedHealth Group is a diversified healthcare and insurance company headquartered in the United States, operating primarily through two key segments: UnitedHealthcare and Optum. UnitedHealthcare provides a broad range of health insurance plans and services to individuals, employers, and government programs like Medicare and Medicaid.
Optum, its health services arm, focuses on data-driven care delivery, pharmacy benefits management, and health technology solutions. Together, the company combines clinical expertise, data analytics, and a vast provider network to deliver integrated health solutions aimed at improving outcomes while managing costs across the healthcare ecosystem.
Analyst Ratings
| Firm | Rating/Grade | Last Updated |
|---|---|---|
| CFRA | ★★★ | 08/24/2025 |
| Market Edge | Long | 08/21/2025 |
| Argus | Hold | 08/08/2025 |
| Morningstar | ★★★★ | 08/15/2025 |
| LSEG | Outperform | 08/24/2025 |
| Schwab Equity Ratings | C | 08/25/2025 |
The analyst ratings for UnitedHealth Group (UNH) present a mixed but generally constructive outlook. CFRA assigns a 3-star rating, suggesting a balanced view. Market Edge shifted its stance to Long after previously being Neutral, reflecting improving sentiment. Argus has a Hold rating, showing caution, while Morningstar assigns 4 stars, indicating stronger confidence in fair value.
LSEG is more bullish, rating UNH Outperform, while Schwab Equity Ratings provides a C grade, signaling a more neutral to cautious approach. Overall, analysts show a mix of Hold and Outperform signals, with some leaning toward long-term strength.
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Disclaimer: Options trading involves significant risk and is not suitable for all investors. You may lose the entire investment, and certain strategies may result in losses exceeding the initial amount invested. Past performance does not guarantee future results. This content is for informational purposes only and should not be considered investment advice. Always consult a financial or tax advisor before making investment decisions.
