United Airlines Holdings, Inc.Close $118.72EOD only
Max Pain
$120.00
Next expiry Aug 21, 2026
Expected Move
±$4.32
3.6% from close
Price Gap
+1.28
Distance to max pain
IV Rank
10
Low premium
P/C OI
1.18
Slightly put-heavy
Consensus
—
No reports available
Published snapshot: Aug 18, 2026 close
End-of-day snapshot
This page reflects UAL options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.
Published Snapshot
Aug 18, 2026 close
Max Pain — UAL
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $120.00 (1.28 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$120.00
Nearest expiry
Expected Move
±$4.32
±3.6%
Days to Expiry
3
Calendar days
Total Call OI
29,373
Nearest expiry
Total Put OI
21,100
Nearest expiry
P/C OI Ratio
0.72
Put-heavy
Spot Price
$118.72
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-08-21
Expiration
Max Pain Strike
Last Updated
2026-08-07
$123.00
8/7/2026, 11:40:29 PM
2026-08-14
$125.00
8/14/2026, 11:41:29 PM
2026-08-21NextUpdated
$120.00
8/18/2026, 11:38:33 PM
2026-08-28
$123.00
8/18/2026, 11:38:33 PM
2026-09-04
$129.00
8/18/2026, 11:38:33 PM
2026-09-11
$126.00
8/18/2026, 11:38:33 PM
2026-09-18
$110.00
8/18/2026, 11:38:33 PM
2026-09-25
$125.00
8/18/2026, 11:38:33 PM
2026-10-02
$115.00
8/18/2026, 11:38:33 PM
2026-10-16
$125.00
8/18/2026, 11:38:33 PM
2026-11-20
$120.00
8/18/2026, 11:38:33 PM
2026-12-18
$90.00
8/18/2026, 11:38:33 PM
2027-01-15
$97.50
8/18/2026, 11:38:33 PM
2027-03-19
$110.00
8/18/2026, 11:38:33 PM
2027-06-17
$130.00
8/18/2026, 11:38:33 PM
Selected expiration: 2026-08-21 at max pain $120.00.
UAL pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
45
0
133758500
133758500
50
0
123208500
123208500
55
151000
112881500
113032500
60
302500
102575000
102877500
65
454000
92385500
92839500
70
605500
82223000
82828500
75
758500
72092000
72850500
80
937500
62114000
63051500
82.5
1063250
57301750
58365000
85
1189000
52538250
53727250
87.5
1315750
47822000
49137750
90
1446000
43126000
44572000
92.5
1592750
38610000
40202750
95
1764750
34144500
35909250
97.5
2000250
29995000
31995250
100
2259000
25887500
28146500
103
2772900
21367700
24140600
104
2944400
19874300
22818700
105
3116600
18387500
21504100
106
3320200
16982800
20303000
How to Read Max Pain
Compare pin-risk and strike-pressure across expirations from the latest published close.
What max pain measures
Max pain is the strike where option holders would collectively lose the most at expiration, based on open interest across the listed chain.
How traders use it
It is most useful as a possible pinning zone, especially when spot is already trading near a crowded strike into expiration.
What can break it
Strong directional flows, news, or fast spot moves can overwhelm any pinning tendency, so max pain should support a thesis rather than drive it alone.
The closer you are to expiration, the more useful this becomes as context and the less useful it is as a standalone prediction.