UNP options flow: unusual options activity in Union Pacific Corp.
Updated 28 September 2026, 09:54 ET
Over the last week the tape recorded 11 unusual options prints in Union Pacific Corp. (UNP), $610K of tracked premium, close to even between bullish and bearish premium. Bullish premium was $150K against $205K bearish; $253K went into calls and $357K into puts, a put call ratio of 1.41. The largest print was $227K of UNP 18 Dec 2026 $240 puts on 22 September 2026, executed at midpoint. The last session with prints, 25 September 2026, added 1 print and $49K of premium. UNP closed at $273.79 on 25 September 2026, down 0.1%.
This week's unusual flow
Prints from 21 September 2026 to 25 September 2026, 4 sessions. Delayed tier: every print is shown twenty minutes after it executed, and the page is rebuilt after each session.
Net premium is bullish minus bearish premium. The put call ratio is put premium divided by call premium, weighted by money rather than by contract count. Sweeps is the share of prints executed across several exchanges at once. Read the guide: Reading the Pulse.
Largest prints of the week
| Date | Contract | Type | Size | Open int. | Premium | Execution | Sentiment | Tier |
|---|---|---|---|---|---|---|---|---|
| 22 Sep 2026 | UNP 18 Dec 2026 $240 puts | Trade | 889 | 389 | $227K | At midpoint | Neutral | Notable |
| 22 Sep 2026 | UNP 15 Jan 2027 $270 calls | Sweep | 38 | 564 | $62K | At ask | Bullish | Notable |
| 21 Sep 2026 | UNP 21 Jan 2028 $400 calls | Sweep | 99 | 5 | $50K | At ask | Bullish | High conviction |
| 25 Sep 2026 | UNP 19 Jan 2029 $300 calls | Sweep | 12 | 0 | $49K | At bid | Bearish | High conviction |
| 21 Sep 2026 | UNP 16 Oct 2026 $275 calls | Sweep | 84 | 2 | $38K | At ask | Bullish | High conviction |
| 21 Sep 2026 | UNP 20 Nov 2026 $260 puts | Sweep | 70 | 147 | $38K | At ask | Bearish | Notable |
| 23 Sep 2026 | UNP 2 Oct 2026 $275 puts | Sweep | 82 | 27 | $37K | At ask | Bearish | High conviction |
| 22 Sep 2026 | UNP 20 Nov 2026 $295 puts | Trade | 11 | 69 | $28K | At midpoint | Neutral | |
| 23 Sep 2026 | UNP 18 Dec 2026 $255 calls | Trade | 10 | 0 | $28K | At bid | Bearish | |
| 23 Sep 2026 | UNP 19 Mar 2027 $250 puts | Sweep | 36 | 76 | $27K | At ask | Bearish | Notable |
| 21 Sep 2026 | UNP 16 Oct 2026 $280 calls | Trade | 75 | 58 | $27K | At bid | Bearish |
Size above open interest means the trade opened a position larger than everything that existed in the contract the night before. Above ask and below bid are the most aggressive executions. Read the guide: Size versus open interest.
Where the money is aimed
| Expiry | Prints | Premium | Calls share | Net premium |
|---|---|---|---|---|
| 18 Dec 2026 | 2 | $254K | 11% | -$28K |
| 20 Nov 2026 | 2 | $66K | 0% | -$38K |
| 16 Oct 2026 | 2 | $65K | 100% | +$11K |
| 15 Jan 2027 | 1 | $62K | 100% | +$62K |
| 21 Jan 2028 | 1 | $50K | 100% | +$50K |
| 19 Jan 2029 | 1 | $49K | 100% | -$49K |
The most premium, $254K, is aimed at the 18 Dec 2026 expiry; the nearest expiry with unusual prints is 16 Oct 2026.
A print in a contract expiring this week is a view about the next few days, often about a known event; a print months out is a different kind of statement. Read the guide: 0DTE options flow.
The last session, 25 September 2026
| Date | Contract | Type | Size | Open int. | Premium | Execution | Sentiment | Tier |
|---|---|---|---|---|---|---|---|---|
| 25 Sep 2026 | UNP 19 Jan 2029 $300 calls | Sweep | 12 | 0 | $49K | At bid | Bearish | High conviction |
Every print in UNP with its full detail, the live tape, one tap filters and saved screeners: open UNP in Options Sentiment Screener.
Price
The live quote and the price chart sit beside the ticker's flow in the app: open UNP in Options Sentiment Screener.
Analysts
The most recent analyst targets on file, from 15 firms, have a median of $335, 22.4% above the last close. The last 90 days brought 1 upgrade.
Calls bought at a strike above the average target are a bet that the analysts are too cautious; puts far below the price in a name they like are protection or a strong disagreement. Read the guide: Reading one ticker's flow.
About Union Pacific Corp.
- Exchange
- NYSE
- Sector
- Industrials
- Industry
- Transportation
- Headquarters
- Omaha, Nebraska
- Website
- up.com
Union Pacific Corporation, through its subsidiary, Union Pacific Railroad Company, operates in the railroad business in the United States. The company offers transportation services for grain and grain products, fertilizers, food and refrigerated products, and coal and renewables. As of December 31, 2021, its rail network included 32,452 route miles.
In the same sector
Flow pages for other Industrials names in the S&P 500:
CAT Caterpillar Inc.GE General Electric Co.GEV GE Vernova Inc.RTX RTX Corp.DE Deere & Co.ETN Eaton Corp. plcBA Boeing Co.UBER Uber Technologies, Inc.
Learn
- What unusual options activity means
- Reading one ticker's flow
- Sweeps, blocks and where a trade printed
- Size versus open interest
- Bullish or bearish, how a print's sentiment is inferred
- The conviction score and whale prints
The live tape for UNP with every print's execution detail, one tap filters for calls, puts, sweeps and 0DTE, saved screeners and, for Realtime subscribers, push alerts and no delay. The same screen is in the iOS and Android apps.
Open UNP in Options Sentiment Screener