This page reflects UNP 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 — UNP
Data as of market close Aug 18, 2026
Nearest listed expiration 2026-08-21 shows max pain at $280.00 (18.74 below spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$280.00
Nearest expiry
Expected Move
±$7.40
±2.5%
Days to Expiry
3
Calendar days
Total Call OI
12,051
Nearest expiry
Total Put OI
8,927
Nearest expiry
P/C OI Ratio
0.74
Put-heavy
Spot Price
$298.74
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
$290.00
8/7/2026, 11:34:08 PM
2026-08-14
$295.00
8/14/2026, 11:39:22 PM
2026-08-21NextUpdated
$280.00
8/18/2026, 11:43:00 PM
2026-08-28
$292.50
8/18/2026, 11:43:00 PM
2026-09-04
$295.00
8/18/2026, 11:43:00 PM
2026-09-11
$285.00
8/18/2026, 11:43:00 PM
2026-09-18
$270.00
8/18/2026, 11:43:00 PM
2026-09-25
$290.00
8/18/2026, 11:43:00 PM
2026-10-02
$350.00
8/18/2026, 11:43:00 PM
2026-10-16
$290.00
8/18/2026, 11:43:00 PM
2026-11-20
$275.00
8/18/2026, 11:43:00 PM
2026-12-18
$260.00
8/18/2026, 11:43:00 PM
2027-01-15
$260.00
8/18/2026, 11:43:00 PM
2027-02-19
$270.00
8/18/2026, 11:43:00 PM
2027-03-19
$290.00
8/18/2026, 11:43:00 PM
2027-06-17
$280.00
8/18/2026, 11:43:00 PM
Selected expiration: 2026-08-21 at max pain $280.00.
UNP pain by strike for 2026-08-21 expiration
Strike
Call Pain
Put Pain
Total Pain
135
0
114402250
114402250
160
0
92092250
92092250
165
500
87631750
87632250
170
1000
83171250
83172250
175
4500
78712750
78717250
180
8000
74259250
74267250
185
11500
69814750
69826250
190
15000
65371750
65386750
195
18500
60932250
60950750
200
23500
56497750
56521250
205
30000
52071250
52101250
210
40500
47690250
47730750
215
51000
43374750
43425750
220
61500
39116750
39178250
225
72000
34899250
34971250
230
87500
31143750
31231250
235
110000
27443250
27553250
240
143000
23857750
24000750
245
208500
20710750
20919250
250
297000
17689250
17986250
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.