Tour v388
MRK
MERCK & CO. INC.
$127.47 +0.96%
$126.80 (-0.53%)🌙
as of 07/22 08:02 PM
(7/21 18:48) ◀
|
Wednesday, July 22, 2026 (8:02pm)
January 2026
|
▶ (7/23 18:51)
◀ 7/22 20:02 ▶

Option Volume

Detail
ℹ
Current (07/22) 54,271
Calls: 49,475 (91%)
Puts: 4,796 (9%)
Prior (07/21) 13,079
Calls: 9,519 (73%)
Puts: 3,560 (27%)
Current vs Prior +314.95%
Calls: +419.75% (Calls)
Puts: +34.72% (Puts)
Prior 7-Day Total 130,212
Calls: 95,251 (73%)
Puts: 34,961 (27%)
Prior 7-Day Average 18,601
Calls: 13,607 (73%)
Puts: 4,994 (27%)
Current vs Prior 7-Day Avg +191.75%
Calls: +263.59%
Puts: -3.97%
Sentiment BULLISH

Dollar Volume

Detail
ℹ
Current (07/22) $4.51M
Calls: $2.73M (60%)
Puts: $1.79M (40%)
Prior (07/21) $5.11M
Calls: $4.11M (80%)
Puts: $1.00M (20%)
Current vs Prior -11.69%
Calls: -33.67%
Puts: +78.51%
Prior 7-Day Total $41.63M
Calls: $32.10M (77%)
Puts: $9.53M (23%)
Prior 7-Day Average $5.95M
Calls: $4.59M (77%)
Puts: $1.36M (23%)
Current vs Prior 7-Day Avg -24.10%
Calls: -40.55%
Puts: +31.28%
Sentiment BULLISH

Put/Call Ratio

Detail
ℹ
Current (07/22) 0.10
Prior (07/21) 0.37
Current vs Prior -74.08%
Prior 7-Day Average 0.40
Current vs Prior 7-Day Avg -76.06%
Sentiment BULLISH

Open Interest

Detail
ℹ
Current (07/22) 249,833
Calls: 154,269 (62%)
Puts: 95,564 (38%)
Prior (07/21) 218,205
Calls: 132,078 (61%)
Puts: 86,127 (39%)
Current vs Prior +14.49%
Prior 7-Day Total 1,757,223
Calls: 1,084,700 (62%)
Puts: 672,523 (38%)
Prior 7-Day Average 251,031
Calls: 154,957 (62%)
Puts: 96,074 (38%)
Current vs Prior 7-Day Avg -0.48%
Sentiment BEARISH

Expected Move

Detail
ℹ
Expiry (07/24) | Next (07/31)Expiry (08/21) | Next (09/18)
Current 2.26% | 4.03%8.30% | 12.36%
Prior 2.63% | 4.25%8.10% | 12.00%
Current vs Prior -14.08% | -5.19%+2.44% | +3.04%
Prior 7-Day Avg 2.77% | 4.30%3.97% | 11.03%
Current vs 7-Day Avg -18.38% | -6.14%+108.89% | +12.09%
Prior 7-Day Eod 2.63% | 4.25%8.10% | 12.00%
Current vs 7-Day Eod -14.08% | -5.19%+2.44% | +3.04%
Sentiment BULLISHBEARISH

Relative Spread

Detail
ℹ
Expiry | Next
Current 24.70% | 10.94%
Calls: 17.93% | 12.45%
Puts: 31.48% | 9.43%
Prior 24.70% | 10.94%
Calls: 17.93% | 12.45%
Puts: 31.48% | 9.43%
Current vs Prior +0.00% | +0.00%
Prior 7-Day Avg 24.70% | 10.94%
Calls: 17.93% | 12.45%
Puts: 31.48% | 9.43%
Current vs 7-Day Avg +0.00% | +0.00%
Liquidity Expensive
+
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🤖 AI Insights

Moderately bullish flow with 60% call dollar volume ($2.73M). Unusually high activity with volume up 315% vs prior - elevated interest. Volume explosion - 192% above 7-day average (54,271 vs avg 18,601). Extreme bullish P/C ratio of 0.10 - heavy call buying (49,475 calls vs 4,796 puts).

Smart Money BULLISH
Retail Flow BULLISH
Overall BULLISH
Dollar Volume
Option Volume
Put/Call Ratio
Open Interest
Expected Move
Current BULLISH
Prior BULLISH
7-Day Avg BULLISH
Current BULLISH
Prior BULLISH
7-Day Avg NEUTRAL
Current BULLISH
Prior BULLISH
7-Day Avg NEUTRAL
Current BULLISH
Prior BULLISH
7-Day Avg NEUTRAL
Current BEARISH
Prior BULLISH
7-Day Avg BULLISH

📈 Options Analysis

🎯 Tightest Spreads
💰 Best Value Under $1
📊 High Delta (ITM)
🔥 High Volume
⏰ Backwardation
📈 Debit Spreads
📉 Credit Spreads
📅 Calendar Spreads
⚡ Straddles
🔀 Strangles
🦅 Iron Condors
🦋 Butterflies
⚖️ Ratio Spreads
🛡️ Covered Calls

Options with the tightest bid-ask spreads (<10%). Lower spreads = better fills and less slippage. Showing top 27 of results (avg 7.9%, best 4.6%)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$127.00Aug 215.355.60$5.484.6%370.541.2K
$125.00Aug 216.406.75$6.585.3%1430.603.9K
$125.00Aug 145.956.30$6.135.7%50.61--
$115.00Aug 2113.5014.50$14.007.1%20.86365
$124.00Jul 314.404.75$4.587.6%10.74--
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$130.00Aug 216.006.30$6.154.9%2680.55265
$129.00Aug 215.405.75$5.586.3%10.522
$125.00Aug 213.453.70$3.587.0%4210.40414
$128.00Aug 214.905.30$5.107.8%50.4984
$119.00Aug 211.561.69$1.638.0%40.2210

Affordable options under $1.00 per contract. Great for defined-risk strategies with minimal capital. 2 found (avg $0.26, cheapest $0.12)

CALLS (2)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$132.00Jul 240.110.13$0.1216.7%41.2K0.09248
$130.00Jul 240.370.40$0.397.7%9970.222.2K
PUTS (0)
No puts meet the criteria

In-the-money options with delta >0.50. Higher probability of profit, lower leverage. 62 found (avg delta 0.72, highest 0.99)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$115.00Jul 2411.8513.80$12.8315.2%30.99--
$120.00Jul 246.758.35$7.5521.2%20.97190
$119.00Jul 248.009.25$8.6314.5%50.97--
$121.00Jul 246.357.85$7.1021.1%10.96--
$122.00Jul 245.256.05$5.6514.2%20.94--
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$138.00Jul 249.0510.75$9.9017.2%40.94--
$132.00Jul 243.455.35$4.4043.2%20.94177
$135.00Jul 316.658.30$7.4822.1%50.89--
$131.00Jul 242.784.25$3.5141.9%90.8765
$130.00Jul 242.423.15$2.7926.2%30.79--

Most actively traded options today. High liquidity = easy entry/exit. 192 active (total vol 49.6K, top 41.2K)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$132.00Jul 240.110.13$0.1216.7%41.2K0.09248
$130.00Jul 240.370.40$0.397.7%9970.222.2K
$140.00Aug 210.941.30$1.1232.1%6960.185.6K
$131.00Jul 240.190.29$0.2441.7%6320.15633
$129.00Jul 240.520.70$0.6129.5%5480.32374
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$125.00Aug 213.453.70$3.587.0%4210.40414
$130.00Aug 216.006.30$6.154.9%2680.55265
$125.00Jul 240.230.40$0.3253.1%2060.19251
$128.00Aug 74.054.40$4.228.3%1080.5013
$115.00Aug 210.801.06$0.9328.0%680.141.4K

Term structure inversion — near-term IV higher than far-term IV at the same strike. Signals expected near-term catalyst or volatility event. 30 strikes (avg 49.1%, max 232.8%)

CALLS (5)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$138.00Jul 24Aug 2869.7%33.9%105.6%84
$141.00Jul 24Aug 2170.4%34.7%103.0%4930
$110.00Jul 31Aug 2171.4%36.0%98.0%16768
$115.00Jul 24Aug 2165.8%34.8%89.2%5365
$140.00Jul 24Aug 2853.7%32.9%63.2%11879
PUTS (5)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$111.00Jul 24Jul 31119.6%35.9%232.8%1464
$110.00Jul 24Aug 2173.4%36.0%103.6%112.5K
$115.00Jul 24Aug 2865.8%34.3%92.0%29674
$118.00Jul 24Aug 2861.2%33.1%84.6%2--
$116.00Jul 24Aug 2859.4%32.7%81.9%1746

Bull call spreads & bear put spreads with the best risk/reward ratios. Pay a debit upfront, defined max loss. 126 found (best R:R 34.71, avg 3.37)

BULL CALL (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$136.00$138.00Jul 31$0.15$1.85$0.1512.33$136.15
$138.00$140.00Aug 7$0.15$1.85$0.1512.33$138.15
$138.00$140.00Jul 24$0.16$1.84$0.1611.50$138.16
$131.00$132.00Jul 24$0.12$0.88$0.127.33$131.12
$142.00$143.00Aug 21$0.12$0.88$0.127.33$142.12
BEAR PUT (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$116.00$111.00Jul 31$0.14$4.86$0.1434.71$115.86
$110.00$105.00Aug 21$0.14$4.86$0.1434.71$109.86
$120.00$118.00Jul 31$0.19$1.81$0.199.53$119.81
$119.00$116.00Aug 14$0.30$2.70$0.309.00$118.70
$115.00$110.00Aug 21$0.51$4.49$0.518.80$114.49

Bear call spreads & bull put spreads collecting premium. Receive credit upfront, profit if stock stays in range. 146 found (best R:R 34.00, avg 1.40)

BEAR CALL (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$106.00$113.00Jul 24$6.80$6.80$0.2034.00$112.80
$110.00$115.00Aug 21$4.68$4.68$0.3214.62$114.68
$119.00$123.00Jul 31$3.57$3.57$0.438.30$122.57
$124.00$125.00Jul 24$0.89$0.89$0.118.09$124.89
$105.00$106.00Jul 24$0.88$0.88$0.127.33$105.88
BULL PUT (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$138.00$132.00Jul 24$5.50$5.50$0.5011.00$132.50
$132.00$131.00Jul 24$0.89$0.89$0.118.09$131.11
$135.00$133.00Aug 21$1.55$1.55$0.453.44$133.45
$130.00$129.00Jul 24$0.75$0.75$0.253.00$129.25
$131.00$130.00Jul 24$0.72$0.72$0.282.57$130.28

Same strike, different expirations. Sell near-term, buy far-term. Profits from time decay differential. 44 found (avg debit $0.89, cheapest $0.05)

CALLS (5)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$134.00Jul 24Jul 31$0.2039.3%25.8%
$110.00Jul 31Aug 21$0.2071.4%36.0%
$136.00Jul 24Jul 31$0.2250.0%31.8%
$135.00Jul 24Jul 31$0.2542.0%29.3%
$145.00Aug 21Aug 28$0.3332.1%33.2%
PUTS (5)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$118.00Jul 24Jul 31$0.0561.2%30.7%
$116.00Jul 24Jul 31$0.1359.4%37.4%
$119.00Aug 7Aug 14$0.1538.9%34.6%
$122.00Jul 24Jul 31$0.2441.3%25.6%
$120.00Jul 24Jul 31$0.2845.5%31.5%

Buy call + put at the same strike and expiry. Profits from large moves in either direction. 46 found (cheapest 1.85% of stock, avg 6.32%)

StrikeExpiryCall$Put$TotalBE LowBE HighCost%
$128.00Jul 24$0.99$1.37$2.36$125.64$130.361.85%
$127.00Jul 24$1.51$0.89$2.40$124.60$129.401.88%
$129.00Jul 24$0.61$2.04$2.65$126.35$131.652.08%
$126.00Jul 24$2.13$0.54$2.67$123.33$128.672.09%
$130.00Jul 24$0.39$2.79$3.18$126.82$133.182.49%
$125.00Jul 24$3.19$0.32$3.51$121.49$128.512.75%
$131.00Jul 24$0.24$3.51$3.75$127.25$134.752.94%
$124.00Jul 24$4.08$0.19$4.27$119.73$128.273.35%
$132.00Jul 24$0.12$4.40$4.52$127.48$136.523.55%
$128.00Jul 31$2.13$2.51$4.64$123.36$132.643.64%

Buy OTM call + OTM put at different strikes. Cheaper than straddles, needs bigger move to profit. 150 found (cheapest 0.24% of stock, avg 3.55%)

Call KPut KExpiryCall$Put$TotalBE LowBE High
$132.00$124.00Jul 24$0.12$0.19$0.31$123.69$132.31
$132.00$123.00Jul 24$0.12$0.23$0.35$122.65$132.35
$131.00$124.00Jul 24$0.24$0.19$0.43$123.57$131.43
$132.00$125.00Jul 24$0.12$0.32$0.44$124.56$132.44
$131.00$123.00Jul 24$0.24$0.23$0.47$122.53$131.47
$131.00$125.00Jul 24$0.24$0.32$0.56$124.44$131.56
$130.00$124.00Jul 24$0.39$0.19$0.58$123.42$130.58
$130.00$123.00Jul 24$0.39$0.23$0.62$122.38$130.62
$132.00$126.00Jul 24$0.12$0.54$0.66$125.34$132.66
$130.00$125.00Jul 24$0.39$0.32$0.71$124.29$130.71

Sell OTM put spread + OTM call spread. Collect premium, profit if stock stays between breakevens. 274 found (best R:R 9.00, avg credit $1.04)

Put SpreadCall SpreadExpiryCreditMax LossR:RBE LowBE High
119/120124/125Aug 7$0.90$0.109.00$119.10$124.90
116/117126/127Aug 28$0.90$0.109.00$116.10$126.90
124/125128/129Aug 7$0.89$0.118.09$124.11$128.89
119/120125/126Aug 14$0.89$0.118.09$119.11$125.89
121/122126/127Aug 14$0.89$0.118.09$121.11$126.89
117/118125/126Aug 21$0.89$0.118.09$117.11$125.89
110/111122/123Jul 24$0.88$0.127.33$110.12$122.88
127/128132/133Aug 7$0.88$0.127.33$127.12$132.88
123/124128/129Aug 21$0.88$0.127.33$123.12$128.88
125/126127/128Jul 31$0.87$0.136.69$125.13$127.87

Buy lower + upper strikes, sell 2x middle strike. Low cost, max profit at the middle strike at expiry. 57 found (best R:R 19.00, cheapest $0.05)

CALLS (5)
LowMidHighExpiryDebitMax GainR:R
$134.00$135.00$136.00Jul 24$0.05$0.9519.00
$126.00$127.00$128.00Jul 31$0.06$0.9415.67
$129.00$130.00$131.00Jul 24$0.07$0.9313.29
$124.00$125.00$126.00Jul 31$0.07$0.9313.29
$127.00$128.00$129.00Aug 14$0.07$0.9313.29
PUTS (5)
LowMidHighExpiryDebitMax GainR:R
$121.00$122.00$123.00Jul 24$0.07$0.9313.29
$124.00$125.00$126.00Aug 21$0.07$0.9313.29
$125.00$126.00$127.00Aug 21$0.07$0.9313.29
$105.00$110.00$115.00Aug 21$0.37$4.6312.51
$128.00$129.00$130.00Jul 24$0.08$0.9211.50

Buy 1 option, sell 2 at a different strike (1:2 ratio). Can be entered for a credit. Unlimited risk on naked leg. 76 found (best net $-0.06, 65 credits)

CALLS (5)
Buy KSell KRatioExpiryNetMax Gain
$110.00$119.001:2Jul 31-$0.06$8.94
$140.00$145.001:2Aug 28-$0.13$4.87
$112.00$120.001:2Aug 28-$3.87$4.13
$120.00$125.001:2Aug 14-$2.38$2.62
$136.00$138.001:2Jul 31$0.00$2.00
PUTS (5)
Buy KSell KRatioExpiryNetMax Gain
$110.00$105.001:2Aug 21-$0.14$4.86
$115.00$111.001:2Jul 24-$0.45$3.55
$119.00$116.001:2Aug 14-$0.67$2.33
$125.00$122.001:2Aug 14-$0.89$2.11
$120.00$118.001:2Jul 24-$0.13$1.87

Sell OTM calls against 100 shares you own. Collect premium for income, capped upside at strike. Yield% = premium/stock price. 58 found (best yield 3.84%, avg 1.45%)

StrikeExpiryBidDeltaOTM%Yield%If Called%VolOI
$128.00Aug 28$4.900.510.4%3.84%4.26%49
$128.00Aug 21$4.750.510.4%3.73%4.14%3743
$129.00Aug 21$4.300.481.2%3.37%4.57%3176
$130.00Aug 28$4.050.462.0%3.18%5.16%6--
$128.00Aug 14$3.950.510.4%3.10%3.51%139
$130.00Aug 21$3.950.452.0%3.10%5.08%5274.5K
$128.00Aug 7$3.900.500.4%3.06%3.48%30103
$129.00Aug 14$3.850.471.2%3.02%4.22%1--
$131.00Aug 21$3.550.422.8%2.78%5.55%44456
$129.00Aug 7$3.350.461.2%2.63%3.83%4341

Current 5-Minute Volume Snapshots

Time (HH:MM) Total Volume Call Volume Put Volume Volume Change
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Prior's 5-Minute Volume Snapshots

Time (HH:MM) Total Volume Call Volume Put Volume Volume Change
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Current Put/Call Breakdown

Total Calls 49,475
Total Puts 4,796
Put/Call Ratio 0.10
Net Difference 44,679

Prior's Put/Call Breakdown

Total Calls 9,519
Total Puts 3,560
Put/Call Ratio 0.37
Net Difference 5,959

Prior 7-Day Put/Call Summary

Total Calls 95,251
Total Puts 34,961
Average Put/Call Ratio 0.40
Ratio Trend Falling

Daily Put/Call History (Last 7 Days)

Date Calls Puts Ratio Net Diff
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Upcoming Earnings - 2 Weeks Prior

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Upcoming Earnings - 1 Week Prior

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Earnings This Week

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Earnings - Day Before / Day After

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Options Activity Around Earnings

Ticker Earnings Date Days Away Call Volume Put Volume IV Rank
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Chart Title

Price — Past 7 Days

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