Union Pacific Corporation (UNP) IV/HV History
Comparing implied volatility to historical (realized) volatility reveals whether options are priced rich or cheap relative to actual price movement. Persistent gaps can signal trading opportunities.
Union Pacific Corporation (UNP) operates in the Industrials sector, specifically the Railroads industry, with a market capitalization near $157.13B, listed on NYSE, employing roughly 30,146 people, carrying a beta of 0.99 to the broader market. Union Pacific Corporation, through its subsidiary, Union Pacific Railroad Company, operates in the railroad business in the United States. Led by Vincenzo James Vena, public since 1980-01-02.
Snapshot as of May 15, 2026.
- Spot Price
- $270.29
- ATM IV
- 25.1%
- HV 20-Day
- 31.4%
- HV 60-Day
- 23.2%
- IV Rank
- 45.3%
- IV Percentile
- 79.4%
As of May 15, 2026, Union Pacific Corporation (UNP) ATM implied volatility is 25.1%. 20-day realized volatility is 31.4%, producing an IV-HV spread of -6.4 vol points. Realized volatility currently exceeds implied, an inversion that can signal a pending IV expansion. IV rank is 45.3%.
How UNP iv/hv history Data Feeds Strategy Selection
Strategy selection on Union Pacific Corporation options does not derive from any single metric in isolation. The iv/hv history view above sits inside a broader read: ATM IV currently sits at 25.1% and dealer gamma exposure is positive, so dealer hedging is mechanically mean-reverting. Combine the iv/hv history data here with the volatility-skew surface, dealer-gamma exposure, max-pain level, and upcoming-events calendar to build a positioning thesis. Risk-defined structures (credit spreads, debit spreads, iron condors) are usually safer than naked positions while the regime is uncertain; the data on this page anchors the inputs but does not by itself constitute a trade thesis.
Learn how implied vs realized volatility is reported and how to read the data →
UNP highest implied-volatility contracts
| Type | Strike | Expiration | Volume | OI | IV | Bid | Ask |
|---|---|---|---|---|---|---|---|
| CALL | $280.00 | Jun 18, 2026 | 394 | 13.8K | 23.7% | $3.40 | $4.00 |
Top 1 contracts from the ORATS-sourced nightly scan; ranked by iv within the broader S&P 500/400/600 + ETF universe.
Frequently asked UNP iv/hv history questions
- Is UNP options pricing rich or cheap right now?
- As of May 15, 2026, Union Pacific Corporation (UNP) ATM IV is 25.1% against 20-day realized volatility of 31.4%. IV rank is 45.3%. Realized volatility currently exceeds implied: an inversion of the typical equity volatility risk premium that often precedes IV expansion.
- What is the UNP variance risk premium?
- The variance risk premium is the persistent gap between implied and subsequently realized volatility. In equity markets it averages positive because option sellers demand compensation for bearing variance shocks. UNP is currently pricing inverted to the historical pattern, which is one input to whether short-vol or long-vol structures carry their typical edge.
- What does UNP IV rank mean for strategy selection?
- IV rank normalizes the current ATM IV to its 1-year range: 0% is the low, 100% is the high. UNP's current rank of 45.3% signals where current pricing sits in its own 1-year history. High-rank regimes typically favor premium-selling structures (credit spreads, condors, covered calls); low-rank regimes typically favor premium-buying or long-volatility structures.