Options Skew Analytics

MDLZ option chain

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

Data as of 9 November 2026 (end of day)

2026-11-20(11 days)ATM 24.60%±2.84skew +0.77
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
02$24.60$27.30—$40.00—————
01$10.00$12.20—$55.00—————
0206$7.90$9.50—$57.50—————
1388$6.00$6.90—$60.0039.37%$0.10$0.156420
055$4.40$5.90—$61.00—————
0161$3.60$4.90—$62.00—————
122,834$4.00$4.40—$62.50—————
039$2.80$4.00—$63.00—————
011$2.00$3.20—$64.0026.81%$0.30$0.402070
12820$2.00$2.15—$65.0025.84%$0.50$0.65600
1950$1.30$1.50—$66.0024.70%$0.80$1.006511
16265$0.80$1.0024.53%$67.00—$1.30$1.501510
2308$0.60$0.8024.39%$67.50—$1.55$1.8010
3271$0.45$0.5523.42%$68.00—$1.95$2.1570
576$0.25$0.4025.08%$69.00—$2.50$3.90230
059$0.15$0.2526.15%$70.00—————

Forward $66.50. The 25-delta put carries +0.77 volatility points over the 25-delta call.

2026-12-04(25 days)ATM 22.72%±3.96skew +1.10
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$5.40$7.30—$60.00—————
15$4.80$5.40—$62.00—————
03$3.00$4.40—$63.0025.09%$0.40$0.5511
03$3.20$3.40—$64.0023.83%$0.55$0.75100
06$2.45$2.65—$65.00—————
—————$66.0022.73%$1.20$1.4001
01$1.25$1.5022.72%$67.00—————
017$0.85$1.0522.27%$68.00—$2.30$2.4510
02$0.60$0.7522.72%$69.00—————
05$0.40$0.5022.73%$70.00—$3.60$5.0060
06$0.25$0.4023.60%$71.00—————

Forward $66.57. The 25-delta put carries +1.10 volatility points over the 25-delta call.

2026-12-18(39 days)ATM 23.00%±5.02skew +2.67
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$34.60$38.50—$30.00—————
01$22.10$26.10—$42.50—————
07$19.70$23.60—$45.00—————
011$17.20$21.20—$47.50—————
031$14.70$18.70—$50.00—————
011$12.30$15.30—$52.50—————
062$10.40$12.40—$55.00—————
0196$8.20$9.70—$57.50—————
0417$6.00$7.40—$60.0026.89%$0.25$0.351,11317
03,187$4.20$5.30—$62.5024.64%$0.55$0.6575742
94,008$2.85$3.10—$65.0023.50%$1.10$1.4016361
271,129$1.50$1.8022.85%$67.50—$2.25$2.50520
237,831$0.70$0.8021.97%$70.00—$4.00$4.2091
23916$0.35$0.4023.28%$72.50—————

Forward $66.77. The 25-delta put carries +2.67 volatility points over the 25-delta call.

2027-01-15(67 days)ATM 21.78%±6.20skew +1.60
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
06$34.60$38.60—$30.00—————
022$29.60$33.60—$35.00—————
010$24.70$28.60—$40.00—————
02$22.20$26.20—$42.50—————
014$19.80$23.70—$45.00—————
019$17.30$20.80—$47.50—————
0387$14.80$17.50—$50.00—————
1179$12.80$14.80—$52.50—————
0315$10.70$12.30—$55.00—————
0267$8.30$9.80—$57.5027.33%$0.30$0.451,04526
01,460$6.20$7.50—$60.0024.46%$0.50$0.651,00960
0798$4.80$5.40—$62.5023.26%$1.00$1.101,0807
2998$3.10$3.60—$65.0022.21%$1.70$1.952,65531
191,322$1.90$2.0521.70%$67.50—$2.85$3.2029446
332,554$1.05$1.2021.66%$70.00—$4.40$5.701310
341,823$0.60$0.6522.05%$72.50—————
91,115$0.30$0.4022.75%$75.00—$8.60$10.2020

Forward $66.44. The 25-delta put carries +1.60 volatility points over the 25-delta call.

2027-03-19(130 days)ATM 23.27%±9.30skew +1.51
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
01$29.60$33.60—$35.00—————
—————$42.5036.38%$0.05$0.1012258
07$17.70$20.10—$47.50—————
02$15.30$17.30—$50.00—————
011$13.00$15.40—$52.5028.18%$0.25$0.401080
012$10.80$13.10—$55.0027.47%$0.45$0.657030
05$9.00$10.60—$57.5025.78%$0.70$0.906830
3444$7.80$8.40—$60.0024.74%$1.10$1.351,6975
3180$6.00$6.50—$62.5023.91%$1.75$1.953423
6858$4.40$4.90—$65.0023.46%$2.60$2.90778
131,638$3.20$3.6023.28%$67.50—$3.80$4.1090
271,206$2.25$2.4522.81%$70.00—$5.10$5.6010
33208$1.50$1.6522.55%$72.50—————
151,918$0.95$1.1022.40%$75.00—$8.90$10.4020
16107$0.35$0.5022.64%$80.00—————

Forward $66.94. The 25-delta put carries +1.51 volatility points over the 25-delta call.

2027-06-17(220 days)ATM 24.06%±12.52skew +2.31
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
06$34.60$38.60—$30.00—————
012$24.80$28.70—$40.00—————
02$20.10$22.90—$45.00—————
—————$52.5027.54%$0.65$0.907380
011$11.50$13.80—$55.0027.26%$0.95$1.404010
010$9.90$11.80—$57.5026.57%$1.35$1.951730
0121$8.10$9.70—$60.0025.84%$1.95$2.554900
0118$6.50$8.10—$62.5025.09%$2.70$3.301780
0206$5.60$6.40—$65.0024.52%$3.60$4.30230
4353$4.40$5.0024.27%$67.50—$4.80$5.5090
14,191$3.20$3.9023.52%$70.00—————
0382$2.40$3.1023.61%$72.50—————
0649$1.75$2.4023.53%$75.00—————
031$0.90$1.4523.70%$80.00—————

Forward $67.04. The 25-delta put carries +2.31 volatility points over the 25-delta call.

2027-09-17(312 days)ATM 24.58%±15.26skew +2.46
CallsStrikePuts
VolumeOpen intBidAskIV IVBidAskOpen intVolume
—————$50.0028.09%$0.80$1.05607
—————$52.5027.81%$1.05$1.60390
09$11.50$14.60—$55.0026.48%$1.40$1.9540
015$9.80$12.70—$57.5026.42%$2.05$2.6060
—————$60.0026.00%$2.80$3.302200
029$6.40$9.30—$62.50—————
7213$6.30$7.40—$65.0024.61%$4.40$5.20110
1108$5.50$6.1025.04%$67.50—————
2109$4.20$5.0024.18%$70.00—————
041$3.30$4.1023.97%$72.50—————
022$2.55$3.3023.69%$75.00—————
0172$1.55$2.2523.96%$80.00—————
065$0.90$1.5024.10%$85.00—————

Forward $67.13. The 25-delta put carries +2.46 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.