# UAL Max Pain (Strike Pegger)

> UAL max pain chart: the strike where option writers' aggregate liability is minimized, daily and by expiration.

Data as of Nov 10, 2026 (end of day).

Max Pain© analysis: the peg is the strike where call and put writers' aggregate liability is minimized; the target price (bias) is where call and put liability converge.

## UAL quote

| Field | Value |
|---|---|
| Last | 120.56 |
| Change | +0.18 |
| Open | 120.23 |
| Previous | 120.38 |
| High | 121.70 |
| Low | 118.21 |
| Bid | - |
| Ask | - |
| Volume | 5,142,751 |
| Trades | - |
| Dividend | - |
| Yield | - |
| Ex-Div | - |
| Split Date | - |
| Impl Vol | 46.4% |
| Hist Vol | 47.5% |
| Opt Volume | 20,327 |
| Open Int | 661,315 |

Expiration: Nov 13, 2026.

All expirations: 2026-11-13, 2026-11-20, 2026-11-27, 2026-12-04, 2026-12-11, 2026-12-18, 2026-12-24, 2027-01-15, 2027-03-19, 2027-06-17, 2027-09-17, 2027-12-17, 2028-01-21, 2028-06-16, 2028-09-15, 2029-01-19.

Change the view with query parameters: `expiration` (YYYY-MM-DD, the daily history and the by-strike profile), `date` (an earlier session). Example: `/quotes/strike-pegger/UAL.md?expiration=2026-11-13`.

## Daily History — expiration Nov 13, 2026

| Date | Strike Peg | Stock Price | Target Price (bias) | Call OI | Put OI |
|---|---:|---:|---:|---:|---:|
| Nov 10, 2026 | 109.00 | 120.56 | 107.17 | 10,913 | 5,789 |
| Nov 9, 2026 | 105.00 | 120.38 | 104.18 | 8,214 | 4,383 |
| Nov 6, 2026 | 102.00 | 112.74 | 101.22 | 8,767 | 3,134 |
| Nov 5, 2026 | 101.00 | 110.49 | 101.12 | 6,428 | 2,670 |
| Nov 4, 2026 | 100.00 | 115.76 | 100.36 | 5,183 | 2,476 |
| Nov 3, 2026 | 100.00 | 107.21 | 100.34 | 3,503 | 2,346 |
| Nov 2, 2026 | 100.00 | 109.24 | 99.92 | 3,211 | 2,289 |
| Oct 30, 2026 | 100.00 | 104.24 | 99.89 | 3,030 | 2,281 |
| Oct 29, 2026 | 100.00 | 105.21 | 99.93 | 2,639 | 2,211 |
| Oct 28, 2026 | 100.00 | 103.43 | 99.91 | 2,622 | 2,186 |
| Oct 27, 2026 | 100.00 | 104.71 | 99.91 | 2,502 | 1,901 |
| Oct 26, 2026 | 100.00 | 100.69 | 99.88 | 2,383 | 1,891 |
| Oct 23, 2026 | 100.00 | 97.93 | 99.95 | 2,351 | 1,833 |

## Open Interest by Strike

**Strike Peg is 109.00, Bias: 107.17** (expiration Nov 13, 2026) — 9.6% below the last price of 120.56; open interest 10.91K calls / 5.79K puts (put/call 0.53).

Net Liability is the call plus put writers' liability if the stock settles at the strike; the peg is its minimum. Showing 22 of 58 strikes: those with open interest within 10% of the last price; the peg uses every strike.

| Strike | Call OI | Put OI | Net Liability |
|---:|---:|---:|---:|
| 109.00 | 48 | 703 | 27,857 |
| 110.00 | 159 | 182 | 28,236 |
| 111.00 | 195 | 60 | 28,956 |
| 112.00 | 949 | 99 | 29,931 |
| 113.00 | 109 | 247 | 31,954 |
| 114.00 | 205 | 18 | 34,333 |
| 115.00 | 438 | 42 | 36,935 |
| 116.00 | 1,144 | 34 | 40,017 |
| 117.00 | 769 | 70 | 44,277 |
| 118.00 | 123 | 136 | 49,376 |
| 119.00 | 43 | 44 | 54,734 |
| 120.00 | 316 | 355 | 60,179 |
| 121.00 | 755 | 112 | 66,295 |
| 122.00 | 456 | 14 | 73,278 |
| 123.00 | 121 | 5 | 80,731 |
| 124.00 | 241 | 4 | 88,310 |
| 125.00 | 1,137 | 15 | 96,134 |
| 126.00 | 634 | 4 | 105,110 |
| 127.00 | 436 | 0 | 114,724 |
| 128.00 | 190 | 1 | 124,774 |
| 129.00 | 51 | 1 | 135,015 |
| 130.00 | 385 | 0 | 145,308 |

## By Expiration

| Expiration | Strike Peg | Stock Price | Target Price (bias) | Call OI | Put OI |
|---|---:|---:|---:|---:|---:|
| Nov 13, 2026 | 109.00 | 120.56 | 107.17 | 10,913 | 5,789 |
| Nov 20, 2026 | 105.00 | 120.56 | 106.03 | 28,694 | 25,494 |
| Nov 21, 2026 | 105.00 | 120.56 | 106.03 | 28,694 | 25,494 |
| Nov 27, 2026 | 101.00 | 120.56 | 103.54 | 3,378 | 1,329 |
| Dec 19, 2026 | 100.00 | 120.56 | 87.07 | 324,834 | 51,799 |
| Jan 16, 2027 | 100.00 | 120.56 | 90.68 | 30,930 | 44,428 |
| Mar 20, 2027 | 110.00 | 120.56 | 106.44 | 8,252 | 12,960 |
| Jun 19, 2027 | 115.00 | 120.56 | 113.50 | 3,778 | 4,833 |
| Sep 18, 2027 | 115.00 | 120.56 | 109.17 | 1,700 | 2,999 |
| Jan 22, 2028 | 100.00 | 120.56 | 91.49 | 11,694 | 15,183 |
| Jan 20, 2029 | 55.00 | 120.56 | 65.60 | 2,345 | 1,187 |

Max Pain© is a registered trademark. The peg is computed from open interest in the day's option snapshot.

## More for UAL

- [Quote](https://www.optionistics.com/quotes/stock-quotes/UAL.md)
- [Option chain](https://www.optionistics.com/quotes/stock-option-chains/UAL.md)
- [Price history](https://www.optionistics.com/quotes/stock-prices/UAL.md)
- [10 day snapshot](https://www.optionistics.com/snapshot.md?symbol=UAL)
- [Strike Pegger (max pain)](https://www.optionistics.com/quotes/strike-pegger/UAL.md)
- [Volatility skew](https://www.optionistics.com/screener/volatility-skew/UAL.md)
- [Put/call ratio](https://www.optionistics.com/screener/put-call-ratio/UAL.md)
- [Trade finder](https://www.optionistics.com/screener/stock-trade-finder/UAL.md)

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