UAL Options Chain, Open Interest, and Volatility Data

UAL Options Open Interest & Strategy Insights

UAL – Top 10 Strike Prices by Open Interest

Strike	Call OI	Put OI	Total OI
125	28514	103	28617
95	12233	12688	24921
105	21130	3156	24286
100	14458	9209	23667
110	19178	4461	23639
20	559	22781	23340
70	14219	8161	22380
90	6181	12072	18253
80	5957	11944	17901
40	3475	13056	16531

UAL – Volatility Metrics & Put/Call Analysis

Put/Call OI Ratio	Put/Call Volume Ratio	Avg Call IV	Avg Put IV	IV Skew
0.65	0.61	57.61%	52.12%	-5.49%

Data Analysis

Symbol: UAL Current Price: 96.65
Max Pain: 85.00 (above)

📌 Absolute OI Peak: 125.00 (28617 contracts)
🛡️ Short-term Key Levels: 95.00（24921 contracts，minor support） , 90.00（18253 contracts，major support） , 80.00（17901 contracts，major support）

📈 Put/Call OI Ratio: 0.65 (bullish, Call OI dominant)
Put/Call Volume Ratio: 0.61 (bullish, Call volume dominant)

📊 Avg Call IV: 57.61%
Avg Put IV: 52.12%
IV Skew: -5.49% (Call IV higher than Put IV by 5.49%, upward expectation slightly stronger)

⚠️ Unusual OI concentration at far OTM strike 125.00 (28617 contracts), sentiment: bullish (Call OI dominant). May reflect speculative bets or hedging demand.

Market Sentiment Based on Options by Expiration Date

Date	Call Volume	Put Volume	Open Interest	Put/Call Ratio	Sentiment
2025-11-07	1602	3096	19878	1.933	Moderate Bearish 📉 (30)
2025-11-14	4728	692	9205	0.146	Moderate Bullish 📈 (70) ⚠️
2025-11-21	1314	1369	44790	1.042	Neutral ⚖️ (50)
2025-11-28	205	81	1543	0.395	Moderate Bullish 📈 (70)
2025-12-05	55	94	393	1.709	Moderate Bearish 📉 (30)
2025-12-12	3	19	75	6.333	Moderate Bearish 📉 (30) ⚠️
2025-12-19	416	723	99772	1.738	Strong Bearish 📉💥 (15)
2026-01-16	1358	733	109255	0.540	Moderate Bullish 📈 (65)
2026-03-20	259	332	23637	1.282	Slight Bearish 📉 (40)
2026-05-15	1204	64	4593	0.053	Moderate Bullish 📈 (70) ⚠️
2026-06-18	2290	801	18441	0.350	Moderate Bullish 📈 (70)
2026-09-18	48	301	4225	6.271	Moderate Bearish 📉 (30) ⚠️
2026-12-18	120	664	31144	5.533	Moderate Bearish 📉 (30) ⚠️
2027-01-15	397	1345	17719	3.388	Moderate Bearish 📉 (30) ⚠️
2027-12-17	190	86	3615	0.453	Moderate Bullish 📈 (70)
2028-01-21	231	8	741	0.035	Moderate Bullish 📈 (70) ⚠️
How the Sentiment Algorithm Works This table evaluates market sentiment based on aggregated options data by expiration date. The key metrics are: Put/Call Ratio (PCR): Indicates the relative activity between put and call options. A high PCR suggests bearish sentiment, while a low PCR indicates bullish sentiment. Open Interest (OI): Represents the number of outstanding contracts. Higher values reflect strong market attention or hedging activity. Unusual activity ⚠️: Days with extremely high PCR or OI are flagged, signaling possible speculative bets or hedging pressures. The sentiment score is computed by combining PCR and OI, then classified into clear labels such as Strong Bullish, Moderate Bullish, Neutral, Moderate Bearish, Strong Bearish. Scores range from 0 to 100, where higher values indicate stronger bullish sentiment and lower values indicate stronger bearish sentiment.