MLI Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-18. Spot $66.63.

Put/Call (OI)

0.31

1k P / 4k C

Put/Call (Volume)

0.03

2 P / 67 C today

30d ATM IV

30%

annualized implied move

Call wall

$70

561 contracts

Put wall

$45

465 contracts

Tail hedging

0.7×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.31 puts per call outstanding.
●Call wall at $70 (561 contracts), 5% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $45 (465 contracts), 32% 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	1k	244	0.22	25
2026-09-18	2k	724	0.46	24
2026-12-18	1k	277	0.27	13
2027-03-19	339	0	0.00	7

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