Tour v394
MRK
MERCK & CO. INC.
$130.48 +2.36%
(7/22 20:02) ◀
|
Thursday, July 23, 2026 (6:51pm)
January 2026
|
▶ (7/24 03:07)
◀ 7/23 18:51 ▶

Option Volume

Detail
ℹ
Current (07/23) 29,168
Calls: 23,850 (82%)
Puts: 5,318 (18%)
Prior (07/22) 54,271
Calls: 49,475 (91%)
Puts: 4,796 (9%)
Current vs Prior -46.25%
Calls: -51.79% (Calls)
Puts: +10.88% (Puts)
Prior 7-Day Total 169,220
Calls: 133,956 (79%)
Puts: 35,264 (21%)
Prior 7-Day Average 24,174
Calls: 19,136 (79%)
Puts: 5,037 (21%)
Current vs Prior 7-Day Avg +20.66%
Calls: +24.63%
Puts: +5.56%
Sentiment BULLISH

Dollar Volume

Detail
ℹ
Current (07/23) $6.54M
Calls: $5.05M (77%)
Puts: $1.49M (23%)
Prior (07/22) $4.51M
Calls: $2.73M (60%)
Puts: $1.79M (40%)
Current vs Prior +44.80%
Calls: +85.13%
Puts: -16.70%
Prior 7-Day Total $41.94M
Calls: $31.58M (75%)
Puts: $10.36M (25%)
Prior 7-Day Average $5.99M
Calls: $4.51M (75%)
Puts: $1.48M (25%)
Current vs Prior 7-Day Avg +9.10%
Calls: +11.88%
Puts: +0.62%
Sentiment BULLISH

Put/Call Ratio

Detail
ℹ
Current (07/23) 0.22
Prior (07/22) 0.10
Current vs Prior +130.02%
Prior 7-Day Average 0.36
Current vs Prior 7-Day Avg -37.89%
Sentiment BULLISH

Open Interest

Detail
ℹ
Current (07/23) 236,988
Calls: 148,570 (63%)
Puts: 88,418 (37%)
Prior (07/22) 249,833
Calls: 154,269 (62%)
Puts: 95,564 (38%)
Current vs Prior -5.14%
Prior 7-Day Total 1,779,540
Calls: 1,100,236 (62%)
Puts: 679,304 (38%)
Prior 7-Day Average 254,220
Calls: 157,176 (62%)
Puts: 97,043 (38%)
Current vs Prior 7-Day Avg -6.78%
Sentiment BEARISH

Expected Move

Detail
ℹ
Expiry (07/24) | Next (07/31)Expiry (08/21) | Next (09/18)
Current 1.82% | 3.79%7.98% | 12.02%
Prior 2.26% | 4.03%8.30% | 12.36%
Current vs Prior -19.61% | -6.11%-3.88% | -2.80%
Prior 7-Day Avg 2.67% | 4.24%4.74% | 11.26%
Current vs 7-Day Avg -31.93% | -10.75%+68.44% | +6.74%
Prior 7-Day Eod 2.26% | 4.03%8.30% | 12.36%
Current vs 7-Day Eod -19.61% | -6.11%-3.88% | -2.80%
Sentiment BULLISHBULLISH

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

Strong bullish conviction with 77% of dollar volume in calls ($5.05M) vs puts ($1.49M). Below-average activity with volume down 46% vs prior. Extreme bullish P/C ratio of 0.22 - heavy call buying (23,850 calls vs 5,318 puts). P/C ratio rising 130% - increased hedging/bearish positioning.

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 34 of results (avg 7.8%, best 4.7%)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$130.00Aug 215.255.50$5.384.6%2420.544.5K
$131.00Jul 311.982.09$2.045.4%1230.48152
$128.00Aug 75.355.65$5.505.5%90.61--
$132.00Aug 214.304.55$4.435.6%90.47139
$129.00Aug 215.806.15$5.985.9%320.57107
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$132.00Aug 215.305.70$5.507.3%30.53--
$130.00Aug 214.304.65$4.477.8%110.47438
$131.00Aug 214.805.25$5.038.9%600.507
$127.00Aug 213.053.35$3.209.4%80.3764
$132.00Jul 312.823.10$2.969.5%10.60--

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

No options available for this category

In-the-money options with delta >0.50. Higher probability of profit, lower leverage. 75 found (avg delta 0.74, highest 0.99)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$110.00Jul 2419.7021.45$20.588.5%20.99--
$115.00Jul 2414.7016.45$15.5811.2%30.99--
$123.00Jul 246.908.45$7.6820.2%30.98147
$105.00Jul 2424.6526.45$25.557.0%10.98--
$124.00Jul 245.707.45$6.5826.6%20.98255
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$133.00Jul 313.403.75$3.589.8%50.67--
$135.00Aug 216.757.75$7.2513.8%10.6276
$135.00Aug 286.908.15$7.5316.6%10.611
$132.00Jul 312.823.10$2.969.5%10.60--
$131.00Jul 240.861.61$1.2460.5%220.5974

Most actively traded options today. High liquidity = easy entry/exit. 227 active (total vol 22.2K, top 10.9K)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$132.00Jul 240.250.34$0.3030.0%10.9K0.2410.8K
$129.00Jul 241.292.03$1.6644.6%2.2K0.73342
$130.00Jul 241.001.25$1.1322.1%1.8K0.612.7K
$131.00Jul 240.510.65$0.5824.1%5630.41878
$140.00Jul 310.030.24$0.14150.0%4090.0643
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$126.00Jul 310.500.73$0.6237.1%4580.20123
$129.00Jul 311.351.62$1.4918.1%4320.389
$128.00Jul 240.040.24$0.14142.9%2360.1272
$123.00Jul 310.010.34$0.18183.3%1910.0776
$120.00Aug 211.131.35$1.2417.7%1350.183.2K

Term structure inversion — near-term IV higher than far-term IV at the same strike. Signals expected near-term catalyst or volatility event. 41 strikes (avg 109.2%, max 637.5%)

CALLS (5)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$150.00Jul 24Aug 28241.7%32.8%637.5%696
$121.00Jul 24Aug 14110.8%34.4%222.0%8599
$115.00Jul 24Aug 21115.1%36.7%214.1%5--
$111.00Jul 24Aug 7170.5%71.1%140.0%6--
$140.00Jul 24Sep 469.5%32.0%117.6%2--
PUTS (5)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$106.00Jul 24Jul 31338.6%55.0%516.1%833
$105.00Jul 24Aug 21211.0%38.8%444.3%291.4K
$120.00Jul 24Sep 4119.9%28.3%323.3%7--
$110.00Jul 24Aug 21135.1%36.7%268.6%402.5K
$113.00Jul 24Aug 28131.4%36.0%265.4%4--

Bull call spreads & bear put spreads with the best risk/reward ratios. Pay a debit upfront, defined max loss. 135 found (best R:R 34.71, avg 3.24)

BULL CALL (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$145.00$150.00Aug 21$0.43$4.57$0.4310.63$145.43
$136.00$137.00Jul 31$0.10$0.90$0.109.00$136.10
$142.00$144.00Aug 7$0.22$1.78$0.228.09$142.22
$145.00$150.00Aug 28$0.57$4.43$0.577.77$145.57
$137.00$138.00Jul 31$0.12$0.88$0.127.33$137.12
BEAR PUT (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$110.00$105.00Aug 21$0.14$4.86$0.1434.71$109.86
$115.00$110.00Aug 21$0.42$4.58$0.4210.90$114.58
$121.00$120.00Aug 14$0.10$0.90$0.109.00$120.90
$120.00$119.00Aug 7$0.11$0.89$0.118.09$119.89
$120.00$118.00Aug 14$0.22$1.78$0.228.09$119.78

Bear call spreads & bull put spreads collecting premium. Receive credit upfront, profit if stock stays in range. 157 found (best R:R 19.00, avg 1.26)

BEAR CALL (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$111.00$118.00Aug 7$6.65$6.65$0.3519.00$117.65
$119.00$122.00Aug 7$2.76$2.76$0.2411.50$121.76
$116.00$120.00Aug 28$3.63$3.63$0.379.81$119.63
$127.00$128.00Aug 14$0.88$0.88$0.127.33$127.88
$122.00$123.00Jul 24$0.87$0.87$0.136.69$122.87
BULL PUT (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$121.00$120.00Sep 4$0.80$0.80$0.204.00$120.20
$132.00$131.00Aug 14$0.75$0.75$0.253.00$131.25
$132.00$131.00Aug 7$0.70$0.70$0.302.33$131.30
$131.00$130.00Jul 24$0.69$0.69$0.312.23$130.31
$133.00$132.00Jul 31$0.62$0.62$0.381.63$132.38

Same strike, different expirations. Sell near-term, buy far-term. Profits from time decay differential. 48 found (avg debit $0.65, cheapest $0.05)

CALLS (5)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$115.00Jul 24Jul 31$0.05115.1%80.7%
$124.00Jul 24Jul 31$0.1050.6%29.1%
$140.00Jul 24Jul 31$0.1069.5%29.6%
$123.00Jul 24Jul 31$0.1255.5%28.1%
$141.00Aug 14Aug 21$0.2135.8%32.6%
PUTS (5)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$122.00Jul 24Jul 31$0.0867.1%28.6%
$123.00Jul 24Jul 31$0.1655.5%28.1%
$114.00Aug 14Aug 28$0.1639.6%33.4%
$116.00Aug 7Aug 14$0.1839.1%35.8%
$117.00Aug 7Aug 14$0.1838.7%35.0%

Buy call + put at the same strike and expiry. Profits from large moves in either direction. 58 found (cheapest 1.29% of stock, avg 7.25%)

StrikeExpiryCall$Put$TotalBE LowBE HighCost%
$130.00Jul 24$1.13$0.55$1.68$128.32$131.681.29%
$131.00Jul 24$0.58$1.24$1.82$129.18$132.821.39%
$129.00Jul 24$1.66$0.46$2.12$126.88$131.121.62%
$128.00Jul 24$2.76$0.14$2.90$125.10$130.902.22%
$127.00Jul 24$3.60$0.09$3.69$123.31$130.692.83%
$131.00Jul 31$2.04$2.39$4.43$126.57$135.433.40%
$130.00Jul 31$2.55$1.90$4.45$125.55$134.453.41%
$126.00Jul 24$4.40$0.08$4.48$121.52$130.483.43%
$132.00Jul 31$1.57$2.96$4.53$127.47$136.533.47%
$129.00Jul 31$3.15$1.49$4.64$124.36$133.643.56%

Buy OTM call + OTM put at different strikes. Cheaper than straddles, needs bigger move to profit. 160 found (cheapest 0.18% of stock, avg 3.58%)

Call KPut KExpiryCall$Put$TotalBE LowBE High
$134.00$128.00Jul 24$0.10$0.14$0.24$127.76$134.24
$133.00$128.00Jul 24$0.12$0.14$0.26$127.74$133.26
$132.00$128.00Jul 24$0.30$0.14$0.44$127.56$132.44
$134.00$129.00Jul 24$0.10$0.46$0.56$128.44$134.56
$133.00$129.00Jul 24$0.12$0.46$0.58$128.42$133.58
$134.00$130.00Jul 24$0.10$0.55$0.65$129.35$134.65
$133.00$130.00Jul 24$0.12$0.55$0.67$129.33$133.67
$131.00$128.00Jul 24$0.58$0.14$0.72$127.28$131.72
$132.00$129.00Jul 24$0.30$0.46$0.76$128.24$132.76
$132.00$130.00Jul 24$0.30$0.55$0.85$129.15$132.85

Sell OTM put spread + OTM call spread. Collect premium, profit if stock stays between breakevens. 219 found (best R:R 9.53, avg credit $1.09)

Put SpreadCall SpreadExpiryCreditMax LossR:RBE LowBE High
125/127128/130Aug 14$1.81$0.199.53$125.19$129.81
121/122125/126Aug 21$0.89$0.118.09$121.11$125.89
125/126130/131Aug 21$0.89$0.118.09$125.11$130.89
125/126132/133Aug 21$0.89$0.118.09$125.11$132.89
117/119122/124Aug 7$1.77$0.237.70$117.23$123.77
123/124127/128Jul 31$0.88$0.127.33$123.12$127.88
123/124127/128Aug 7$0.88$0.127.33$123.12$127.88
105/110115/120Aug 21$4.39$0.617.20$105.61$119.39
124/125127/128Jul 31$0.87$0.136.69$124.13$127.87
119/120126/127Aug 21$0.87$0.136.69$119.13$126.87

Buy lower + upper strikes, sell 2x middle strike. Low cost, max profit at the middle strike at expiry. 61 found (best R:R 27.57, cheapest $0.05)

CALLS (5)
LowMidHighExpiryDebitMax GainR:R
$136.00$138.00$140.00Aug 14$0.07$1.9327.57
$140.00$142.00$144.00Aug 7$0.10$1.9019.00
$134.00$135.00$136.00Jul 24$0.06$0.9415.67
$134.00$135.00$136.00Aug 14$0.06$0.9415.67
$135.00$136.00$137.00Aug 21$0.06$0.9415.67
PUTS (5)
LowMidHighExpiryDebitMax GainR:R
$125.00$126.00$127.00Jul 31$0.05$0.9519.00
$131.00$132.00$133.00Jul 31$0.05$0.9519.00
$115.00$116.00$117.00Aug 14$0.05$0.9519.00
$105.00$110.00$115.00Aug 21$0.28$4.7216.86
$128.00$129.00$130.00Jul 31$0.06$0.9415.67

Buy 1 option, sell 2 at a different strike (1:2 ratio). Can be entered for a credit. Unlimited risk on naked leg. 85 found (best net $-2.10, 74 credits)

CALLS (5)
Buy KSell KRatioExpiryNetMax Gain
$140.00$150.001:2Jul 24-$2.10$7.90
$141.00$145.001:2Aug 21-$0.25$3.75
$137.00$140.001:2Jul 24-$0.03$2.97
$133.00$137.001:2Aug 28-$1.30$2.70
$137.00$140.001:2Aug 7-$0.32$2.68
PUTS (5)
Buy KSell KRatioExpiryNetMax Gain
$118.00$113.001:2Jul 24-$0.04$4.96
$125.00$121.001:2Aug 28-$0.96$3.04
$113.00$110.001:2Jul 24$0.00$3.00
$129.00$125.001:2Aug 28-$1.38$2.62
$129.00$125.001:2Sep 4-$1.66$2.34

Sell OTM calls against 100 shares you own. Collect premium for income, capped upside at strike. Yield% = premium/stock price. 53 found (best yield 3.68%, avg 1.39%)

StrikeExpiryBidDeltaOTM%Yield%If Called%VolOI
$131.00Aug 28$4.800.500.4%3.68%4.08%2--
$131.00Aug 21$4.700.510.4%3.60%4.00%33464
$132.00Aug 21$4.300.471.2%3.30%4.46%9139
$131.00Aug 14$4.000.490.4%3.07%3.46%1--
$133.00Aug 28$3.850.441.9%2.95%4.88%513
$131.00Aug 7$3.750.500.4%2.87%3.27%654
$133.00Aug 21$3.750.441.9%2.87%4.81%683
$132.00Aug 14$3.700.461.2%2.84%4.00%12--
$135.00Aug 21$3.000.383.5%2.30%5.76%1465.1K
$132.00Aug 7$2.980.461.2%2.28%3.45%39135

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 23,850
Total Puts 5,318
Put/Call Ratio 0.22
Net Difference 18,532

Prior's Put/Call Breakdown

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

Prior 7-Day Put/Call Summary

Total Calls 133,956
Total Puts 35,264
Average Put/Call Ratio 0.36
Ratio Trend Rising

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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