United Airlines (UAL) Options Chain

NASDAQ: UALConsumer DiscretionaryAir Freight/Delivery ServicesUSD

107.46+0.015 (+0.01%)

At close: Oct 9, 4:00 PM ET · Delayed 15 min

Expiration date

Expiration: Mar 19, 2027
Days to expiration: 159
Share price: $107.46
Put/call ratio (OI): 1.56
Put/call ratio (volume): 0.36
ATM implied volatility: 46.5%
Expected move: ±$32.96
Open interest (C / P): 6.64K / 10.38K

UAL options summary

The UAL options chain for the March 19, 2027 expiration lists 36 call and 28 put contracts, with 159 days until expiration. Open interest stands at 6,636 calls and 10,384 puts, a put/call ratio of 1.56, which is more bearish, with puts outnumbering calls. At-the-money implied volatility near the $105.00 strike is 46.5%, which implies the market expects a move of about ±$32.96 (30.7%) in United Airlines stock by expiration.

The most open interest sits at the $135.00 call (1.00K contracts) and the $60.00 put (1.18K contracts).

Summary generated from market data by MetaCap's automated system. Methodology

UAL options chain · March 19, 2027

UAL calls and puts by strike price. Shaded cells are in the money.
Calls							Puts
OI	Vol	IV	Last	Bid	Ask	Strike	Bid	Ask	Last	IV	Vol	OI
45	30	90.5%	63.79	62.40	65.15	45.00	0.03	0.16	0.06	57.2%	2	255
8	2	79.3%	59.52	59.20	62.60	47.50	0.07	0.30	0.12	59.1%	2	83
10	2	76.6%	57.10	56.80	60.20	50.00	0.00	0.32	0.20	54.5%	1	136
—	—	—	—	—	—	55.00	0.00	0.86	0.34	56.9%	1	67
67	4	78.8%	41.20	48.70	51.65	60.00	0.10	0.90	0.55	51.8%	3	1,181
0	30	—	51.04	0.00	0.00	65.00	0.38	1.05	0.73	53.8%	3	268
106	10	150.9%	56.00	53.40	57.50	70.00	0.55	1.88	0.92	55.4%	5	1,140
7	8	137.8%	30.65	48.90	52.25	75.00	1.42	1.90	1.80	48.6%	6	490
124	4	54.4%	33.65	29.50	33.10	80.00	1.95	2.66	2.64	47.2%	9	365
10	4	52.6%	33.13	27.50	30.80	82.50	2.64	3.20	3.00	47.0%	4	145
87	2	53.6%	30.05	26.40	28.80	85.00	3.15	3.60	3.75	45.6%	3	102
10	1	56.1%	26.70	23.85	26.45	87.50	3.70	4.35	4.15	45.9%	5	205
143	1	50.9%	27.23	21.90	25.50	90.00	3.90	5.05	4.85	45.5%	3	1,138
42	30	66.4%	47.50	24.70	27.00	92.50	4.85	5.85	5.55	45.2%	2	347
93	3	53.3%	28.32	18.55	21.25	95.00	4.90	6.60	6.05	44.3%	1	563
43	1	55.4%	20.53	16.95	20.40	97.50	6.75	7.60	7.25	44.2%	8	298
117	1	51.2%	16.07	15.95	18.00	100.00	7.90	8.15	7.90	42.1%	28	759
178	3	49.9%	13.79	14.10	15.20	105.00	8.95	10.85	10.85	43.0%	1	317
UAL $107.46
445	6	49.3%	11.39	10.70	12.85	110.00	12.25	13.45	13.50	42.4%	3	846
286	1	48.0%	9.20	9.60	10.60	115.00	14.90	16.40	15.66	41.9%	2	560
249	120	50.0%	7.50	6.90	9.50	120.00	17.50	19.70	19.65	41.6%	11	517
672	21	51.4%	7.50	6.00	8.45	125.00	21.15	23.45	20.52	42.0%	15	512
398	36	50.7%	5.34	4.50	7.00	130.00	24.90	27.15	22.67	41.3%	1	27
1,001	8	48.3%	4.00	4.30	5.35	135.00	28.30	32.05	27.75	44.8%	8	17
162	11	50.4%	3.25	2.95	4.95	140.00	33.05	35.55	29.00	41.6%	9	19
189	12	46.0%	2.64	2.69	3.25	145.00	0.00	0.00	35.71	—	2	0
496	2	46.2%	2.12	1.92	2.69	150.00	38.55	42.15	37.17	—	2	27
250	11	49.5%	2.00	1.36	2.78	155.00	0.00	0.00	63.60	—	—	0
362	1	45.5%	1.50	1.02	1.71	160.00	—	—	—	—	—	—
45	1	46.8%	1.40	0.77	1.55	165.00	—	—	—	—	—	—
43	2	50.2%	1.50	0.32	1.71	170.00	—	—	—	—	—	—
123	1	47.2%	1.51	0.41	1.08	175.00	—	—	—	—	—	—
476	1	47.4%	0.68	0.47	0.91	180.00	—	—	—	—	—	—
68	6	52.0%	1.57	0.00	1.18	185.00	—	—	—	—	—	—
0	4	12.5%	1.80	0.00	0.00	190.00	—	—	—	—	—	—
155	7	53.5%	0.80	0.23	0.97	195.00	—	—	—	—	—	—
126	1	51.0%	0.25	0.05	1.22	200.00	—	—	—	—	—	—

In-the-money callsIn-the-money puts. IV = implied volatility, OI = open interest (contracts). Each contract covers 100 shares. Quotes delayed at least 15 minutes.

Frequently asked questions

What is the UAL put/call ratio?

For the March 19, 2027 expiration, the UAL put/call ratio based on open interest is 1.56 (10,384 puts vs 6,636 calls), and 0.36 based on today's volume. A ratio above 1 means more puts than calls.

What is UAL's implied volatility?

At-the-money implied volatility for UAL options expiring March 19, 2027 is about 46.5%, an annualized estimate of how much the market expects United Airlines stock to move.

How many UAL option expiration dates are there?

UAL has 16 listed expiration dates, from Oct 16, 2026 to Jan 19, 2029.

What does "in the money" mean?

A call is in the money when the strike price is below the current share price; a put is in the money when the strike is above it. In-the-money contracts have intrinsic value and are shaded in the table.