This page reflects UNP 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 — UNP
Data as of market close May 20, 2026
Nearest listed expiration 2026-05-22 shows max pain at $270.00 (4.20 above spot). Use this page to evaluate pin-risk zones, strike pressure, and open-interest concentration before selecting trade structure.
Max Pain Strike
$270.00
Nearest expiry
Expected Move
±$5.28
±2.0%
Days to Expiry
2
Calendar days
Total Call OI
1,617
Nearest expiry
Total Put OI
783
Nearest expiry
P/C OI Ratio
0.48
Put-heavy
Spot Price
$265.80
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
$265.00
5/8/2026, 11:35:41 PM
2026-05-15
$245.00
5/15/2026, 11:45:42 PM
2026-05-22NextUpdated
$270.00
5/20/2026, 11:33:06 PM
2026-05-29
$270.00
5/20/2026, 11:33:06 PM
2026-06-05
$270.00
5/20/2026, 11:33:06 PM
2026-06-12
$265.00
5/20/2026, 11:33:06 PM
2026-06-18
$255.00
5/20/2026, 11:33:06 PM
2026-06-26
$265.00
5/20/2026, 11:33:06 PM
2026-07-17
$265.00
5/20/2026, 11:33:06 PM
2026-08-21
$275.00
5/20/2026, 11:33:06 PM
2026-09-18
$250.00
5/20/2026, 11:33:06 PM
2026-11-20
$255.00
5/20/2026, 11:33:06 PM
2026-12-18
$240.00
5/20/2026, 11:33:06 PM
2027-01-15
$240.00
5/20/2026, 11:33:06 PM
2027-03-19
$260.00
5/20/2026, 11:33:06 PM
Selected expiration: 2026-05-22 at max pain $270.00.
UNP pain by strike for 2026-05-22 expiration
Strike
Call Pain
Put Pain
Total Pain
150
0
7755000
7755000
155
500
7363500
7364000
205
10500
3448500
3459000
210
11500
3074000
3085500
220
13500
2468000
2481500
225
14500
2187000
2201500
230
15500
1907500
1923000
235
16500
1630500
1647000
240
17500
1354000
1371500
245
21500
1079000
1100500
247.5
25250
942750
968000
250
29000
806750
835750
252.5
33250
682000
715250
255
37500
557750
595250
257.5
43250
436750
480000
260
49000
321750
370750
262.5
66000
231000
297000
265
84750
148000
232750
267.5
118250
77250
195500
270
154500
27750
182250
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.