MLM Options Chain — Open Interest, Implied Volatility, Max Pain & Gamma Exposure

Analyze the complete MLM options chain including strike-level open interest, real-time implied volatility (IV), max pain levels, gamma exposure, dealer positioning, and options flow trends. This dashboard provides data-driven insights for traders building directional or hedging strategies around MLM.

Latest Data: 2026-10-01 (EDT)

Max Pain Price

620

Exp: 2026-10-16

Gamma Flip

460.86

Gamma Flip (≈60 days)

Put/Call OI Ratio

0.401

Shows put vs call positioning

IV Skew

-7.06

Put–call IV difference

Max Pain Price Volatility

σ = 47.58

high volatility

Confidence 38%

Near-Term Options-Derived Market Structure

BULLISH BIAS

Reflecting options positioning and volatility conditions over the coming sessions.

A slight bullish tilt is present, but the overall setup remains largely neutral with limited directional reliability. Options Chian

Looking only at the put-side activity, there is a bearish directional push. This suggests some traders are actively betting on downside. Confidence: 67%

Current DPI is -0.152(neutral). Neutral consolidation, trend and momentum are indistinct. From the current DPI structure, dealers appear largely neutral, suggesting limited willingness to reinforce directional price moves..

Options Terrain Outlook (3-Month)

Options positioning suggests a structurally constrained trading environment, where price movements are more likely to stall or mean-revert rather than extend. Volatility conditions are moderately choppy. Price action is strongly influenced by existing options constraints. Directional moves may struggle to sustain follow-through. Structural sensitivity is elevated around the 2027-01-15 options expiry. 100% confidence

The support levels for MLM are at 471.62, 462.82, and 433.07, while the resistance levels are at 486.72, 495.52, and 525.27. The pivot point, a key reference price for traders, is at 620.00.

Short-Term Options-Implied Price Range & Flow Structure (DTE: 15)

Based on the latest options positioning (DTE 15), the ATM straddle implies a standardized 1.23% 1-day move.

The expected range for the next 15 days is 469.03 — 507.20 , corresponding to +5.85% / -2.12% .

Estimated using ATM implied volatility, OTM option flow, and dealer hedging conditions to capture the market-implied price range.

Bullish flow suggests upside interest toward 525.66 (9.70% above spot).

Bearish positioning points to downside pressure toward 463.84 (3.20% below spot).

Options flow strength: 0.73 (0–1 scale). ATM Strike: 480.00, Call: 12.30, Put: 10.55, Straddle Cost: 22.85.

Price moves are likely to stay range-bound. The short-term gamma flip is near 448.16 , with intermediate positioning around 460.86 . The mid-term gamma flip remains near 460.86.