Decoding Merck & Co's Options Activity: What's the Big Picture?

Recent analysis indicates that significant investors, often referred to as "whales," are showing a bullish perspective on Merck & Co. This conclusion comes from examining the options trading history for Merck & Co (NYSE: MRK), where we identified a total of 9 trades.

Considering the breakdown of these transactions, it is clear that approximately 66% of investors entered positions with positive expectations for Merck's stock, while around 22% engaged in trades anticipating a downturn.

Among these trades, there were 2 put options amounting to $69,435 and 7 call options totaling $1,203,898. This indicates a pronounced preference for calls, often associated with bullish sentiment.

Expected Price Movements

When we delve into the volume and open interest within these contracts, it becomes evident that major players are targeting an anticipated price range for Merck & Co between $85.00 and $95.00 over the past quarter.

Volume & Open Interest Trends

In the current trading environment, we note that the average open interest for Merck & Co options stands at 8,273.17, with total trading volume reaching 10,621.00. An accompanying chart would typically illustrate the trends in both call and put option volumes, as well as open interest for significant trades, particularly those within the identified strike price window of $85.00 to $95.00, during the last 30 days.

Merck & Co 30-Day Option Volume & Interest Snapshot

Continuing with our detailed exploration, we must examine the most substantial options trades observed recently:

Largest Options Trades Observed:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
MRK	CALL	SWEEP	BEARISH	04/17/25	$3.75	$3.5	$3.5	$90.00	$443.5K	12.3K	2.5K
MRK	CALL	SWEEP	BULLISH	04/17/25	$3.5	$3.4	$3.5	$90.00	$351.0K	12.3K	1.2K
MRK	CALL	TRADE	BULLISH	03/21/25	$2.35	$2.15	$2.35	$90.00	$234.5K	10.7K	2.0K
MRK	CALL	TRADE	BULLISH	04/17/25	$1.73	$1.7	$1.72	$95.00	$49.3K	6.3K	823
MRK	CALL	SWEEP	BULLISH	12/19/25	$11.6	$11.25	$11.6	$85.00	$46.4K	307	20

About Merck & Co

Merck & Co is a prominent player in the pharmaceutical industry, developing medications across various therapeutic areas. These include treatments for cardiometabolic diseases, cancer, and infectious diseases. Their immuno-oncology platform, in particular, has significantly contributed to their sales growth. Additionally, Merck is well-known for its vaccines aimed at preventing pediatric diseases, as well as human papillomavirus (HPV). The company also offers drugs related to animal health, and importantly, nearly half of its revenue comes from the United States.

As we analyze Merck & Co's options activity, we also need to consider the company's current market performance.

Current Status of Merck & Co

• The trading volume for MRK stands at 4,348,312 with the stock price up by 0.87%, reaching $90.16.
• Current Relative Strength Index (RSI) values suggest that the stock may be nearing an oversold position.
• Merck's next earnings report is anticipated in 56 days.

Analyst Insights on Merck & Co

In the last 30 days, five professional analysts have shared their assessments on Merck's stock, averaging a price target of $108.6.

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Analyst recommendations vary, with a Citigroup analyst maintaining a Buy rating and price target of $115, while a Deutsche Bank analyst downgraded the stock’s rating to Hold with a target price of $105. BMO Capital persists with a Market Perform rating with a price target of $96, and Bank of America continues to endorse a Buy rating for Merck with a price target of $112. Guggenheim also keeps a Buy rating with a $115 target.

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