Options Skew Analytics

MDLZ option chain

Strikes around the forward, as they were quoted at the close

Data as of 22 September 2026 (end of day)

2026-10-09(17 days)ATM 21.99%±2.88skew +1.40
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$58.0024.66%$0.25$0.40400
—————$59.0022.50%$0.40$0.55240
—————$60.0022.26%$0.70$0.9050
719$0.95$1.1521.92%$61.00—$1.15$1.35140
112$0.50$0.7020.78%$62.00—$1.75$2.6040
13113$0.30$0.4021.11%$63.00—$2.40$2.9560
112$0.10$0.1522.84%$65.00—————

Forward $60.80. The 25-delta put carries +1.40 volatility points over the 25-delta call.

2026-10-16(24 days)ATM 22.29%±3.47skew +1.62
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$14.00$18.10—$45.00—————
010$5.40$6.40—$55.00—————
07$3.40$4.00—$57.5024.27%$0.30$0.4529318
08$2.50$3.50—$58.0023.56%$0.40$0.5001
—————$59.0022.66%$0.60$0.7518355
329$1.70$1.90—$60.0022.37%$0.95$1.101,07944
2483$1.20$1.3522.27%$61.00—————
316$0.75$0.9021.52%$62.00—————
5709$0.60$0.7521.72%$62.50—$2.25$3.003160
309$0.50$0.6021.95%$63.00—————
274$0.25$0.4021.59%$64.00—————
741,838$0.15$0.2521.93%$65.00—$4.30$5.20220
170$0.05$0.1022.88%$67.00—————

Forward $60.78. The 25-delta put carries +1.62 volatility points over the 25-delta call.

2026-10-23(31 days)ATM 21.56%±3.82skew +1.77
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$4.90$6.70—$55.00—————
—————$57.0024.11%$0.30$0.50970
—————$58.0023.21%$0.45$0.7010
—————$59.0022.09%$0.70$0.90163
—————$60.0021.29%$1.00$1.25363
039$1.30$1.5521.58%$61.00—$1.50$1.75810
120$0.90$1.1521.80%$62.00—————
04$0.55$0.8021.30%$63.00—————
45$0.35$0.5521.45%$64.00—————
026$0.25$0.4022.38%$65.00—————

Forward $60.80. The 25-delta put carries +1.77 volatility points over the 25-delta call.

2026-11-20(59 days)ATM 24.19%±5.94skew +0.99
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$55.0026.35%$0.45$0.60328
01$3.60$4.70—$57.5024.58%$0.85$1.10582
011$2.75$3.00—$60.0024.14%$1.75$1.9524109
18663$1.60$1.8524.23%$62.50—————
173172$0.85$0.9523.59%$65.00—————
3763$0.40$0.5023.65%$67.50—————

Forward $61.03. The 25-delta put carries +0.99 volatility points over the 25-delta call.

2026-12-18(87 days)ATM 23.30%±6.96skew +1.05
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$29.10$33.10—$30.00—————
01$17.10$19.80—$42.50—————
07$14.70$16.90—$45.00—————
011$12.30$14.50—$47.50—————
031$10.50$11.70—$50.00—————
011$8.20$9.30—$52.50—————
062$5.80$7.20—$55.0025.48%$0.70$0.8567434
0182$4.10$5.20—$57.5024.03%$1.20$1.404793
41366$3.20$3.50—$60.0023.31%$2.05$2.30641106
12394$2.10$2.2523.29%$62.50—$3.30$3.702410
454,401$1.30$1.4023.43%$65.00—$4.90$6.00760
44736$0.70$0.8022.99%$67.50—$6.90$8.20330
553,875$0.35$0.4522.85%$70.00—$9.20$10.6060

Forward $61.19. The 25-delta put carries +1.05 volatility points over the 25-delta call.

2027-01-15(115 days)ATM 22.80%±7.82skew +2.48
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
06$29.10$33.10—$30.00—————
01$26.60$30.50—$32.50—————
022$24.10$28.00—$35.00—————
04$21.60$25.50—$37.50—————
011$19.10$23.20—$40.00—————
016$16.60$20.60—$42.50—————
014$14.70$17.00—$45.00—————
019$12.40$14.40—$47.50—————
0388$10.20$12.10—$50.0027.80%$0.30$0.507,9531
0180$8.10$9.60—$52.50—————
0317$6.00$7.80—$55.0024.95%$0.95$1.153,4020
0282$4.30$5.50—$57.5023.51%$1.45$1.806110
01,460$3.50$3.80—$60.0023.06%$2.40$2.757742
2505$2.35$2.5522.69%$62.50—$3.80$4.108620
3751$1.50$1.6522.52%$65.00—$5.40$6.004930
8783$0.90$1.0522.47%$67.50—$7.20$8.402360
21,901$0.50$0.7022.71%$70.00—$9.30$10.801310
—————$72.50—$11.40$13.5020

Forward $61.09. The 25-delta put carries +2.48 volatility points over the 25-delta call.

2027-03-19(178 days)ATM 23.69%±10.15skew +2.21
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
04$24.10$28.10—$35.00—————
07$12.80$14.80—$47.50—————
02$10.60$12.80—$50.0027.31%$0.60$0.90150
010$8.70$10.30—$52.5026.51%$1.05$1.25960
015$7.00$8.20—$55.0025.13%$1.55$1.7066220
05$5.40$6.40—$57.5024.19%$2.25$2.406444
0430$4.50$4.80—$60.0023.68%$3.20$3.405700
271$3.30$3.6023.69%$62.50—$4.40$4.801662
18324$2.35$2.6523.51%$65.00—$5.90$6.40180
6285$1.65$1.9023.43%$67.50—$7.70$8.4070
0295$1.10$1.2522.91%$70.00—$9.50$11.0010
885$0.75$0.9523.43%$72.50—————
—————$75.00—$14.10$15.7020

Forward $61.33. The 25-delta put carries +2.21 volatility points over the 25-delta call.

2027-06-17(268 days)ATM 23.33%±12.33skew +1.79
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
06$29.10$33.10—$30.00—————
012$19.90$22.00—$40.00—————
02$15.40$17.50—$45.00—————
—————$50.0026.97%$1.00$1.45370
—————$52.5026.12%$1.60$1.806710
101$7.90$9.00—$55.0025.10%$2.15$2.402162
03$6.10$7.80—$57.5024.53%$2.85$3.301470
099$5.10$6.10—$60.0024.20%$3.90$4.304270
099$4.10$4.7023.33%$62.50—$4.80$5.601580
199$3.20$3.7023.37%$65.00—$6.50$7.8010
9151$2.50$2.8023.29%$67.50—————
13,651$2.00$2.1523.60%$70.00—————
1311$1.45$1.6023.31%$72.50—————
1624$1.10$1.2523.58%$75.00—————

Forward $61.67. The 25-delta put carries +1.79 volatility points over the 25-delta call.

How to read this

Calls on the left, puts on the right, the strike between them — the layout every chain uses. Each block is one expiration, and the heading carries its days to expiry, the at-the-money implied volatility, and the one-standard-deviation move that volatility implies over that time.

Only the 21 strikes nearest the forward are stored, which is the part of the board that carries the volume. The shaded side is in the money: below the forward for calls, above it for puts.

Implied volatility is shown on the out-of-the-money side only. An in-the-money option is nearly all intrinsic value quoted on a wide market, so a volatility solved from it would look authoritative and mean very little. The price is still shown, because the price is real; the blank is deliberate.