MPLX Options Chain Analysis

As of previous close (2026-10-15) · OPRA historical data

Spot $57.4 at that close. Nothing on this page comes from the session in progress.

Put/Call (OI)

0.41

24k P / 59k C

Put/Call (Volume)

4.49

4k P / 796 C that session

30d ATM IV

21%

annualized implied move

Call wall

$60

24k contracts

Put wall

$55

15k contracts

Tail hedging

0.2×

deep-OTM puts vs calls

What the positioning says

●Bullish positioning: only 0.41 puts per call outstanding.
●Call wall at $60 (24k contracts), 5% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $55 (15k contracts), 4% below spot — the hedge floor; often acts as support.
●Deep-OTM call OI is 4.8× deep-OTM put OI — speculative upside positioning dominates the tails.
●30-day ATM implied volatility is 21% — calm pricing; option premium is cheap.

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 2026-11-20. 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	2k	0.70	23
2026-11-20	7k	4k	0.56	1k
2026-12-18	16k	8k	0.51	1k
2027-01-15	24k	6k	0.26	1k
2027-03-19	2k	1k	0.68	18
2028-01-21	6k	2k	0.34	74
2029-01-19	1k	50	0.04	104

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.