United Airlines (UAL) stock closed meaningfully lower on April 22 as the airline’s muted full-year guidance due to higher jet fuel prices tempered its market-beating Q1 release.
Despite posting a robust $1.19 in adjusted per-share earnings, the Nasdaq-listed giant trimmed its 2026 outlook to $11 per share at the top end of its range.
The post-earnings selloff saw UAL sink below its 20-day moving average (MA), signaling bears are stealing back control from the bulls in the near term.
Versus their year-to-date high, United Airlines shares are now down some 22%.
Where Options Data Suggests United Airlines Stock is Headed
Despite the technical breakdown, options pricing recommends loading up on UAL shares today.
According to Barchart, the put-to-call ratio on contracts expiring mid-September sits at 0.54x at the time of writing, signaling a strong bullish skew.
The upper price on those same contracts currently sits at roughly $111, indicating United Airlines could rally more than 20% over the next five months.
Note that the airline stock has a history of gaining 2.48% on average in May, a seasonal trend that makes it even more attractive to own in the near term.
UAL Shares Are Cheaper to Own Than Rivals in 2026
Beyond a disappointing outlook, UAL’s first-quarter release pointed to several green shoots for long-term investors.
For starters, the airline saw a 13.6% increase in premium cabin demand, indicating its high-margin business remains resilient despite macroeconomic concerns, which may help offset the fuel costs in 2026.
Plus, management’s ability to maintain a first-place ranking in on-time departures among major US carriers underscores operational excellence that often builds brand loyalty.
Note that United Airlines stock is currently trading at about 12x forward earnings, which makes it cheaper to own than rivals, including Delta Air Lines (DAL) and Southwest Airlines (LUV).
Wall Street Remains Bullish on United Airlines Holdings
Investors should also note that Wall Street analysts are even more bullish on United Airlines than options traders for the next 12 months.
According to Barchart, the consensus rating on UAL stock remains at a “Strong Buy,” with the mean price target of roughly $129 indicating potential upside of more than 40% from current levels.
On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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