Options

MDLN options

Figures as of 28 Sep 2026

The options figures are from the close on 28 Sep 2026.

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At a glance

Figure	Value	Date
Priced move to 16 Oct	11.8% down, 11.4% up	28 Sep
Call wall and put wall	35 and 30	28 Sep
Next report	4 Nov 2026	28 Sep

Options Snapshot

MDLN's at the money implied volatility is 53.3 percent on 28 Sep 2026.

Figure	Value
IV rank	Not stated, 12 weeks of record
At the money IV	53.3%, near month, 18 days
Put/call ratio, open interest	1.79
Call open interest, strikes captured near the price	7,840 contracts
Put open interest, strikes captured near the price	14,000 contracts
Cost to trade at the money	Wide, 95.3% of the option's mid price

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Priced Range

On 28 Sep 2026, MDLN options priced a move of 11.8 percent down and 11.4 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	11.8%	11.4%	30.92 to 39.07
20 Nov 2026	53	19.6%	19.7%	28.19 to 41.99
15 Jan 2027	109	25.1%	27.6%	26.28 to 44.75
19 Feb 2027	144	30.8%	35.1%	24.27 to 47.37

The range is one standard deviation either side of the close of 35.07, as the option prices imply it.

A priced move restates option prices at the close and says nothing certain about where the price goes.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Gamma Map

On 28 Sep 2026, MDLN's call wall is the 35 strike and its put wall is the 30 strike.

Figure	Value
Call wall, most open call gamma	35
Put wall, most open put gamma	30
Flip strike, where net gamma changes sign	33.58
Net dollar gamma, calls minus puts	minus $72,737
Total dollar gamma, both sides	$1.21 million
Close	35.07

Dollar gamma is stated for a one percent move in the price.

Net is calls minus puts under the standard convention, not a record of who holds the contracts.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility History

On 28 Sep 2026, MDLN's at the money IV is 53.3 percent against 20 day realized volatility of 44.2 percent.

Figure	Value
At the money IV	53.3%
Realized volatility, 20 trading days	44.2%
Realized volatility, 60 trading days	53.0%
Weekly readings on record	12, from 23 Jan 2026

Realized volatility is worked out from the daily closes the desk holds, not from the option chain.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility Weather

On 28 Sep 2026, MDLN's at the money IV runs from 53.3 percent at 18 days to 55.9 percent at 144 days.

Days to expiry	At the money IV
18	53.3%
53	55.3%
109	48.4%
144	55.9%

Far expiries price more volatility than near ones, an upward sloping term structure.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility Smile

On 28 Sep 2026, at the 53 day expiry, MDLN's IV ten percent below the price sits 3.8 points below at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	51.6%	-3.8 points
At the money	55.3%	0.0 points
10% above the price	61.7%	+6.3 points

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility Surface

On 28 Sep 2026, MDLN's surface spans 4 expiries out to 144 days, with IV from 3.1 to 70.1 percent near the price.

Figure	Value
Expiries captured	4
Nearest expiry	16 Oct 2026, 18 days
Farthest expiry	19 Feb 2027, 144 days
Points within 10% of the price, 7 days out or more	12
Lowest IV among them	3.1%
Highest IV among them	70.1%

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Expiry Ladder

On 28 Sep 2026, MDLN has 4 captured expiries, from 16 Oct 2026 to 19 Feb 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
16 Oct 2026	18	53.3%	3,188	4,837
20 Nov 2026	53	55.3%	2,275	4,273
15 Jan 2027	109	48.4%	2,042	4,613
19 Feb 2027	144	55.9%	338	232

Open interest is summed over the strikes captured near the price on each expiry.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Strike Table

On 28 Sep 2026, MDLN's largest open interest sits at the 30 strike, with 6,132 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
30	124	6,008	6,132
35	2,974	1,218	4,192
27.5	29	3,717	3,746
32.5	152	2,304	2,456
40	1,590	467	2,057
37.5	759	45	804

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Since Yesterday

From 25 Sep 2026 to 28 Sep 2026, MDLN's at the money IV moved from 57.4 percent to 53.3 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	57.4%	53.3%	-4.1 points
Open interest, strikes captured near the price	21,572	21,798	+226
Put/call ratio, open interest	1.83	1.78	-0.05

Open interest changes cannot identify buyers or sellers.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Changed Hands

On 28 Sep 2026, 394 MDLN option contracts traded, 0.2 times its own recent average.

Figure	Value
Calls traded	210
Puts traded	184
Against its recent average	0.2 times
Busier than	0 of its last 20 trading days
Open interest, whole chain	21,860 contracts
Volume to open interest	0.02
Unusual volume flag	No

Traded volume and open interest are shown side by side and never combined. Open interest changes cannot identify buyers or sellers.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Positioning Replay

The replay holds 33 trading days of MDLN's option positioning, from 11 Aug 2026 to 28 Sep 2026.

Date	Close	Net dollar gamma	Top call strike	Top put strike
11 Aug 2026	35.04	minus $621,670	37.5	32.5
21 Sep 2026	31.96	minus $179,154	35	30
28 Sep 2026	35.07	minus $72,737	35	30

Each frame restates one nightly capture. Net is calls minus puts, a convention, not who holds the contracts.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Earnings Radar

MDLN reports next on 4 Nov 2026, a date worked out from past quarters.

Figure	Value
Next report	4 Nov 2026, before the open
Date	Worked out from past quarters
Move after the report of 5 Aug 2026	-12.8%
Move after the report of 30 Apr 2026	+0.6%

Earnings calendar as of 28 Sep 2026. Current on every plan.

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Questions

What is MDLN's IV rank?: MDLN's at the money implied volatility is 53.3 percent on 28 Sep 2026.
What move are MDLN options pricing?: On 28 Sep 2026, MDLN options priced a move of 11.8 percent down and 11.4 percent up by 16 Oct 2026.
Where are MDLN's call wall and put wall?: On 28 Sep 2026, MDLN's call wall is the 35 strike and its put wall is the 30 strike.
When does MDLN report earnings next?: MDLN reports next on 4 Nov 2026, a date worked out from past quarters.

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