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: 2026-02-06 (EDT)

Max Pain Price

640

Exp: 2026-02-20

Gamma Flip

809.12

Gamma Flip (≈60 days)

Put/Call OI Ratio

0.616

Shows put vs call positioning

IV Skew

6.61

Put–call IV difference

Max Pain Price Volatility

σ = 5.00

low volatility

Confidence 56%

Near-Term Options-Derived Market Structure

BULLISH BIAS

Reflecting options positioning and volatility conditions over the coming sessions.

The options data shows a moderate bullish tilt. There is some directional support, though momentum remains limited. Options Chian

On the put side, the bearish positioning looks mainly like hedging. This reflects caution and short-term protection rather than a true bearish call. Confidence: 100%

Current DPI is 0.87(strong-bullish). Bullish, momentum neutral or unclear.

Options Terrain Outlook (3-Month)

Options structure allows for directional movement, but with elevated volatility and less predictable follow-through. Volatility conditions are moderately choppy. Options constraints exert a moderate influence on price behavior. Directional moves may struggle to sustain follow-through. Structural sensitivity is elevated around the 2026-02-20 options expiry. 100% confidence

The support levels for MLM are at 685.14, 677.86, and 661.40, while the resistance levels are at 694.86, 702.14, and 718.60. The pivot point, a key reference price for traders, is at 640.00.

Short-Term Options-Implied Price Range & Flow Structure (DTE: 14)

Based on the latest options positioning (DTE 14), the ATM straddle implies a standardized 1.28% 1-day move.

The expected range for the next 14 days is 655.63 — 700.10 , corresponding to +1.46% / -4.98% .

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 704.32 (2.08% above spot).

Bearish positioning points to downside pressure toward 631.72 (8.45% below spot).

Options flow strength: 0.63 (0–1 scale). ATM Strike: 690.00, Call: 17.30, Put: 15.85, Straddle Cost: 33.15.

Market signals are mixed and less reliable. No short-term gamma flip is observed , with intermediate positioning around 809.12 . The mid-term gamma flip remains near 650.84.