United Airlines Stock May Be Ready for Another Takeoff

United Airlines Holdings Inc (NASDAQ:UAL) is trading into the site of its 2025 highs and early 2026 peak that it broke out from in June. Shares are at the 50-day moving average, while the stock price is just above the front three-month peak put level at the 110 strike. 

 
Options traders have been put-heavy too. This is per the 50-day put/call volume ratio of 1.07 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which ranks in the 94th annual percentile. These options are affordable after the company’s post-earnings implied volatility (IV) crush, too.
 
Our recommended September call has a leverage ratio of 6.6 and will double on a 16.7% rise in the underlying equity.