MDLN Options Chain Analysis

As of previous close (2026-10-02) · OPRA historical data

Spot $35.62 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

1.49

15k P / 10k C

Put/Call (Volume)

2.16

522 P / 242 C that session

30d ATM IV

42%

annualized implied move

Call wall

$40

2k contracts

Put wall

$30

6k contracts

Tail hedging

1.8×

deep-OTM puts vs calls

What the positioning says

●Defensive positioning: 1.49 puts outstanding per call — holders are hedging rather than selling.
●Call wall at $40 (2k contracts), 12% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $30 (6k contracts), 16% below spot — the hedge floor; often acts as support.

Open interest by strike

All expiries combined. Amber lines mark the call and put walls; the dashed line is spot.

IV term structure

At-the-money implied volatility per expiry.

Volatility smile

IV by strike — expiry 2026-10-16. A steep left side = expensive downside protection.

30-day implied volatility history

Daily ATM IV (~30 DTE bucket) collected since March 2026. Rising IV into an event = the market bracing; collapsing IV after = the crush.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume that session
2026-10-16	3k	5k	1.69	614
2026-11-20	3k	4k	1.25	126
2027-01-15	2k	5k	2.21	22
2027-02-19	346	238	0.69	0
2027-05-21	10	106	10.60	2
2028-01-21	1k	740	0.58	0
2029-01-19	0	3	—	0

Source: Cboe end-of-session option chains, summarized after each US market close and published from the following trading day — OPRA historical data. Under the OPRA plan options data becomes historical, and freely publishable, at the opening of the next trading session; data from the session in progress is never displayed or served here. Open interest is exchange-reported once a day. Research, not investment advice.