UNH: Mapping Out a Defined-Risk LEAPS Strategy in the "Buy Zone"

UNH is approaching a broad structural support region I’ve been tracking -- a wide zone from $239 down to $186, where (for me) the stock begins to offer compelling risk/reward and long-term value. Momentum, IMO, is still decisively lower, but we’re nearing levels where I start preparing.

The midpoint of the “Buy Zone” near $213 reflects a potential average cost area I’d be very comfortable building from, depending on how price behaves as it enters the zone.

I’ll look to initiate exposure through long-dated call options (LEAPS) -- as I’ve started doing in CNC -- once the setup begins to stabilize. From there, I’ll begin layering in short puts at ownership levels that align with the broader structure. If assigned, I’ll own where I intended. If not, I’m collecting premium to help finance the LEAPS.

I’m not in the business of calling exact bottoms… this is about building a position that respects time, structure, and flexibility -- anticipating a slow grind higher over the next 12–18 months. Stay tuned.