What does the MPLX options chain show right now?

As of Aug 14, 2026, MPLX Lp (MPLX) has 94.2K contracts outstanding and 648 traded today, with ATM IV of 17.6%. The full chain spans every listed strike and expiration with bid/ask, Greeks, volume, and open interest per contract.

What expirations are available for MPLX options?

The nearest expiration is 35 days out, followed by 126 days. Listed expirations typically extend monthly with weeklies between, plus LEAPS one to two years out for liquid names.

How tight are MPLX options bid/ask spreads?

Average bid/ask spread across the chain is 18.75%. Wider spreads warrant conservative sizing; mid-market fills are unreliable for retail-size orders.

MPLX Lp (MPLX) Options Chain

The options chain displays all available contracts with end-of-day quotes, Greeks, volume, and open interest for each strike and expiration, and streams live quotes for traders who connect a broker. It is the primary tool for options trade selection.

MPLX Lp (MPLX) operates in the Energy sector, specifically the Oil & Gas Midstream industry, with a market capitalization near $60.36B, listed on NYSE, employing roughly 5,762 people, carrying a beta of 0.46 to the broader market. MPLX LP, incorporated in 2012 and headquartered in Findlay, Ohio, operates as a subsidiary of Marathon Petroleum Corporation, with MPLX GP LLC serving as its general partner. Led by Maryann T. Mannen, public since 2012-10-26.

Snapshot as of Aug 14, 2026.

Spot Price: $59.49
Total OI: 94.2K
Total Volume: 648
Front Expiration: 35 days
Second Expiration: 126 days
ATM IV: 17.6%
Avg Bid/Ask Spread: 18.75%

As of Aug 14, 2026, MPLX Lp (MPLX) has 94.2K open contracts and 648 contracts traded. The nearest expiration is 35 days out, followed by 126 days. ATM implied volatility is 17.6%. Average bid/ask spread across the chain is 18.75%: wider spreads, size positions conservatively. The options chain aggregates every listed strike and expiration, letting traders evaluate skew, term structure, and liquidity in a single view.

How MPLX options chain Data Feeds Strategy Selection

Strategy selection on MPLX Lp options does not derive from any single metric in isolation. The options chain view above sits inside a broader read: ATM IV currently sits at 17.6% and dealer gamma exposure is positive, so dealer hedging is mechanically mean-reverting. Combine the options chain data here with the volatility-skew surface, dealer-gamma exposure, max-pain level, and upcoming-events calendar to build a positioning thesis. Risk-defined structures (credit spreads, debit spreads, iron condors) are usually safer than naked positions while the regime is uncertain; the data on this page anchors the inputs but does not by itself constitute a trade thesis.

How to read the MPLX chain depth

The listed-expirations table above shows every expiration available for MPLX Lp options with its days-to-expiration count and ATM implied volatility. Front-month expirations carry the most volume, the highest gamma, and the tightest bid-ask spreads; longer-dated tenors carry less liquidity but more vega exposure. MPLX front expiration sits at 35 days - the typical hedging horizon for monthly options. The contango term-structure slope of 0.012 means longer-dated tenors price in proportionally more IV.

MPLX chain mechanics and execution

Options are listed at standardized strike intervals (typically $1 for sub-$25 underlyings, $2.50-$5 for mid-cap, $10-$50 for large-cap), and the deltas of each listed strike are determined by where IV lies relative to the strike's moneyness. Average bid/ask spread on the MPLX chain is 18.75% - a measure of liquidity. Tighter spreads on liquid strikes mean lower transaction costs; wider spreads on long-dated or far-OTM strikes mean execution drag can dominate the math. The chain table on the SPA side shows the full per-strike, per-expiration grid; this SSR page summarizes the listed expirations and the front-month context to anchor the structural read.

Using the MPLX chain to build structures

Strategy selection starts with the chain: directional theses use single-leg calls or puts, range-bound theses use credit spreads or iron condors, vol theses use straddles or strangles, calendar theses use diagonal spreads. MPLX's current 5.05% expected move anchors wing placement - structures with wings at the implied band collect the modal-outcome premium under lognormal assumptions. Cross-reference with the gamma-exposure profile to understand where dealer hedging will reinforce or fight your position, and with the volatility-skew chart to confirm the strikes you're trading sit at the IV levels your strategy assumes.

Learn how the options chain is reported and how to read the data →

MPLX listed expirations

Per-expiration ATM implied volatility for MPLX options. Each row is one listed expiration with its days-to-expiration count and ATM IV pulled from the same term-structure feed that powers the SPA's expiration filter. Front-month expirations carry the highest gamma, the tightest bid-ask spreads, and the most volume; longer-dated tenors carry less liquidity but more vega.

Expiration	DTE	ATM IV
Aug 21, 2026	7	14.4%
Sep 18, 2026	35	17.6%
Dec 18, 2026	126	18.8%
Jan 15, 2027	154	18.8%
Mar 19, 2027	217	18.7%
Jan 21, 2028	525	18.0%

Frequently asked MPLX options chain questions

What does the MPLX options chain show right now?: As of Aug 14, 2026, MPLX Lp (MPLX) has 94.2K contracts outstanding and 648 traded today, with ATM IV of 17.6%. The full chain spans every listed strike and expiration with bid/ask, Greeks, volume, and open interest per contract.
What expirations are available for MPLX options?: The nearest expiration is 35 days out, followed by 126 days. Listed expirations typically extend monthly with weeklies between, plus LEAPS one to two years out for liquid names.
How tight are MPLX options bid/ask spreads?: Average bid/ask spread across the chain is 18.75%. Wider spreads warrant conservative sizing; mid-market fills are unreliable for retail-size orders.