United Airlines Holdings, Inc.Close $98.02EOD only
Max Pain
$93.00
Next expiry May 22, 2026
Expected Move
±$4.40
4.5% from close
Price Gap
-5.02
Distance to max pain
IV Rank
14
Low premium
P/C OI
1.09
Balanced positioning
Consensus
—
No reports available
Published snapshot: May 20, 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
May 20, 2026 close
Max Pain — UAL
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $93.00 (5.02 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$93.00
Nearest expiry
Expected Move
±$4.40
±4.5%
Days to Expiry
2
Calendar days
Total Call OI
7,700
Nearest expiry
Total Put OI
9,656
Nearest expiry
P/C OI Ratio
1.25
Put-heavy
Spot Price
$98.02
Published close
Consensus
-
Open report for full read
Max Pain by Expiration
Pain by Strike
Drill into expiration
Selected: 2026-05-22
Expiration
Max Pain Strike
Last Updated
2026-05-08
$92.00
5/8/2026, 11:36:10 PM
2026-05-15
$95.00
5/15/2026, 11:39:25 PM
2026-05-22NextUpdated
$93.00
5/20/2026, 11:39:39 PM
2026-05-29
$95.00
5/20/2026, 11:39:39 PM
2026-06-05
$90.00
5/20/2026, 11:39:39 PM
2026-06-12
$91.00
5/20/2026, 11:39:39 PM
2026-06-18
$95.00
5/20/2026, 11:39:39 PM
2026-06-26
$95.00
5/20/2026, 11:39:39 PM
2026-07-17
$95.00
5/20/2026, 11:39:39 PM
2026-08-21
$95.00
5/20/2026, 11:39:39 PM
2026-09-18
$92.50
5/20/2026, 11:39:39 PM
2026-10-16
$97.50
5/20/2026, 11:39:39 PM
2026-11-20
$95.00
5/20/2026, 11:39:39 PM
2026-12-18
$85.00
5/20/2026, 11:39:39 PM
2027-01-15
$87.50
5/20/2026, 11:39:39 PM
2027-03-19
$95.00
5/20/2026, 11:39:39 PM
Selected expiration: 2026-05-22 at max pain $93.00.
UAL pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
60
0
26687100
26687100
65
12500
21873600
21886100
70
25500
17076600
17102100
72
31100
15167200
15198300
73
33900
14213600
14247500
74
36900
13260500
13297400
75
40100
12314700
12354800
76
45900
11395100
11441000
77
51700
10493000
10544700
78
58100
9597000
9655100
79
64500
8722800
8787300
80
70900
7863700
7934600
81
79600
7021000
7100600
82
88300
6188600
6276900
83
97300
5376400
5473700
84
106500
4574200
4680700
85
117100
3831000
3948100
86
132500
3166800
3299300
87
154400
2608600
2763000
88
181200
2103200
2284400
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.