UNP Options Chain — Open Interest, Implied Volatility, Max Pain & Gamma Exposure

Analyze the complete UNP options chain including strike-level open interest, real-time implied volatility (IV), max pain levels, gamma exposure, dealer positioning, and options flow trends. This dashboard provides data-driven insights for traders building directional or hedging strategies around UNP.

Latest Data: 2026-03-25 (EDT)

Max Pain Price

240

Exp: 2026-03-27

Gamma Flip

233.38

Gamma Flip (≈60 days)

Put/Call OI Ratio

0.536

Shows put vs call positioning

IV Skew

-0.35

Put–call IV difference

Max Pain Price Volatility

σ = 22.57

high volatility

Confidence 85%

Near-Term Options-Derived Market Structure

NEUTRAL OUTLOOK

Reflecting options positioning and volatility conditions over the coming sessions.

The options structure reflects a high-confidence neutral environment. Dealer positioning and volatility suppression suggest a stable range-bound setup rather than a directional move. Options Chian

On the put side, the bearish positioning looks mainly like hedging. This reflects caution and short-term protection rather than a true bearish call. Confidence: 83%

Current DPI is 0.115(bullish). Bullish, momentum neutral or unclear.

Options Terrain Outlook (3-Month)

Options structure allows for directional movement, but with elevated volatility and less predictable follow-through. Volatility conditions remain relatively smooth. Options constraints exert a moderate influence on price behavior. Directional moves may struggle to sustain follow-through. Structural sensitivity is elevated around the 2026-04-17 options expiry. 100% confidence

The support levels for UNP are at 238.38, 234.83, and 226.02, while the resistance levels are at 244.28, 247.83, and 256.64. The pivot point, a key reference price for traders, is at 240.00.

Short-Term Options-Implied Price Range & Flow Structure (DTE: 2)

Based on the latest options positioning (DTE 2), the ATM straddle implies a standardized 1.30% 1-day move.

The expected range for the next 2 days is 236.92 — 249.39 , corresponding to +3.34% / -1.83% .

Estimated using ATM implied volatility, OTM option flow, and dealer hedging conditions to capture the market-implied price range.

Bullish flow suggests upside interest toward 254.62 (5.51% above spot).

Bearish positioning points to downside pressure toward 234.71 (2.74% below spot).

Options flow strength: 0.61 (0–1 scale). ATM Strike: 242.50, Call: 1.70, Put: 2.73, Straddle Cost: 4.42.

Price moves are likely to stay range-bound. The short-term gamma flip is near 233.50 , with intermediate positioning around 233.38 . The mid-term gamma flip remains near 233.51.