MDLZ Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $62.31.

Put/Call (OI)

0.97

58k P / 60k C

Put/Call (Volume)

0.58

1k P / 2k C today

30d ATM IV

26%

annualized implied move

Call wall

$70

14k contracts

Put wall

$57.5

13k contracts

Tail hedging

1.4×

deep-OTM puts vs calls

What the positioning says

●Call wall at $70 (14k contracts), 12% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $57.5 (13k contracts), 8% 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 2026-09-18. 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 today
2026-08-21	8k	12k	1.55	529
2026-08-28	331	118	0.36	203
2026-09-04	97	189	1.95	419
2026-09-11	92	113	1.23	166
2026-09-18	23k	15k	0.65	2k
2026-09-25	169	7	0.04	21
2026-10-02	6	1	0.17	79
2026-12-18	4k	3k	0.78	102
2027-01-15	13k	18k	1.40	36
2027-03-19	3k	3k	0.92	13
2027-06-17	4k	1k	0.28	29
2028-01-21	3k	5k	1.52	87

Source: CBOE delayed quotes, refreshed daily after US market close. Open interest is exchange-reported and lags one session. Research, not investment advice.