Tour v452
MRK
MERCK & CO. INC.
$131.82 +0.81%
$131.35 (-0.36%)🌙
as of 07/28 06:51 PM
(7/27 18:50) ◀
|
Tuesday, July 28, 2026 (6:51pm)
January 2026
|
▶ (7/29 18:54)
◀ 7/28 18:51 ▶

Option Volume

Detail
ℹ
Current (07/28) 31,129
Calls: 21,246 (68%)
Puts: 9,883 (32%)
Prior (07/27) 15,706
Calls: 9,192 (59%)
Puts: 6,514 (41%)
Current vs Prior +98.20%
Calls: +131.14% (Calls)
Puts: +51.72% (Puts)
Prior 7-Day Total 170,703
Calls: 139,945 (82%)
Puts: 30,758 (18%)
Prior 7-Day Average 24,386
Calls: 19,992 (82%)
Puts: 4,394 (18%)
Current vs Prior 7-Day Avg +27.65%
Calls: +6.27%
Puts: +124.92%
Sentiment BULLISH

Dollar Volume

Detail
ℹ
Current (07/28) $7.51M
Calls: $4.29M (57%)
Puts: $3.22M (43%)
Prior (07/27) $6.35M
Calls: $4.70M (74%)
Puts: $1.66M (26%)
Current vs Prior +18.25%
Calls: -8.60%
Puts: +94.33%
Prior 7-Day Total $42.11M
Calls: $32.87M (78%)
Puts: $9.24M (22%)
Prior 7-Day Average $6.02M
Calls: $4.70M (78%)
Puts: $1.32M (22%)
Current vs Prior 7-Day Avg +24.91%
Calls: -8.56%
Puts: +143.95%
Sentiment BULLISH

Put/Call Ratio

Detail
ℹ
Current (07/28) 0.47
Prior (07/27) 0.71
Current vs Prior -34.36%
Prior 7-Day Average 0.31
Current vs Prior 7-Day Avg +49.14%
Sentiment BULLISH

Open Interest

Detail
ℹ
Current (07/28) 246,601
Calls: 148,493 (60%)
Puts: 98,108 (40%)
Prior (07/27) 235,978
Calls: 143,042 (61%)
Puts: 92,936 (39%)
Current vs Prior +4.50%
Prior 7-Day Total 1,675,860
Calls: 1,048,863 (63%)
Puts: 626,997 (37%)
Prior 7-Day Average 239,408
Calls: 149,837 (63%)
Puts: 89,571 (37%)
Current vs Prior 7-Day Avg +3.00%
Sentiment BEARISH

Expected Move

Detail
ℹ
Expiry (07/31) | Next (08/07)Expiry (08/21) | Next (09/18)
Current 2.63% | 5.61%6.98% | 11.14%
Prior 3.10% | 5.81%7.42% | 11.68%
Current vs Prior -15.01% | -3.41%-5.92% | -4.64%
Prior 7-Day Avg 2.80% | 4.73%6.95% | 11.80%
Current vs 7-Day Avg -5.94% | +18.72%+0.49% | -5.62%
Prior 7-Day Eod 3.10% | 5.81%7.42% | 11.68%
Current vs 7-Day Eod -15.01% | -3.41%-5.92% | -4.64%
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

Above-average activity with volume up 98% vs prior. Extreme bullish P/C ratio of 0.47 - heavy call buying (21,246 calls vs 9,883 puts). P/C ratio dropping 34% - sentiment shifting bullish. Call-heavy open interest (148,493 calls vs 98,108 puts) suggests bullish 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 NEUTRAL
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 30 of results (avg 8.0%, best 5.2%)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$110.00Aug 2121.6522.80$22.235.2%20.97--
$130.00Aug 74.454.70$4.585.5%700.60119
$132.00Aug 214.454.75$4.606.5%810.51158
$123.00Aug 2110.1510.90$10.537.1%20.80--
$132.00Aug 73.353.60$3.487.2%330.51164
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$135.00Aug 75.055.35$5.205.8%40.6215
$135.00Aug 215.756.15$5.956.7%920.5986
$137.00Aug 217.107.60$7.356.8%20.6524
$134.00Aug 215.305.70$5.507.3%150.56--
$131.00Aug 213.754.05$3.907.7%1040.4557

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
$113.00Jul 3117.8519.85$18.8510.6%10.99--
$112.00Jul 3118.8520.85$19.8510.1%10.99--
$114.00Jul 3116.8518.85$17.8511.2%10.99--
$119.00Jul 3111.8013.85$12.8316.0%50.98201
$120.00Jul 3110.8512.45$11.6513.7%20.98--
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$145.00Aug 712.3014.25$13.2814.7%20.91--
$137.00Jul 314.706.40$5.5530.6%40.90--
$145.00Aug 2112.7014.25$13.4811.5%160.87--
$135.00Jul 312.723.90$3.3135.6%110.798
$140.00Aug 219.159.90$9.537.9%20.7423

Most actively traded options today. High liquidity = easy entry/exit. 228 active (total vol 22.2K, top 10.0K)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$142.00Jul 310.010.03$0.02100.0%10.0K0.0139
$135.00Aug 213.103.35$3.237.7%1.6K0.415.1K
$138.00Jul 310.120.50$0.31122.6%1.0K0.12157
$135.00Jul 310.360.54$0.4540.0%4920.21743
$125.00Aug 218.509.55$9.0311.6%4220.753.7K
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$125.00Aug 211.611.96$1.7919.6%1.4K0.25753
$110.00Aug 210.110.28$0.2085.0%2900.042.4K
$120.00Aug 210.851.05$0.9521.1%2750.143.6K
$126.00Aug 212.032.20$2.128.0%1900.2883
$122.00Jul 310.020.17$0.10150.0%1810.04467

Term structure inversion — near-term IV higher than far-term IV at the same strike. Signals expected near-term catalyst or volatility event. 42 strikes (avg 29.6%, max 118.9%)

CALLS (5)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$155.00Jul 31Aug 2875.0%35.0%114.4%2421
$144.00Jul 31Aug 2161.6%33.8%82.3%5--
$120.00Jul 31Sep 449.8%32.4%53.7%5--
$118.00Aug 7Aug 2155.2%36.6%50.9%2--
$143.00Jul 31Aug 2148.5%33.1%46.5%11215
PUTS (5)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$110.00Jul 31Aug 2886.4%39.5%118.9%6159
$118.00Aug 7Sep 455.2%33.7%63.5%172
$115.00Aug 7Aug 2850.9%34.0%49.6%1930
$119.00Jul 31Aug 2853.6%35.9%49.2%115
$122.00Jul 31Sep 449.9%34.3%45.5%182468

Bull call spreads & bear put spreads with the best risk/reward ratios. Pay a debit upfront, defined max loss. 131 found (best R:R 72.33, avg 3.65)

BULL CALL (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$144.00$155.00Jul 31$0.15$10.85$0.1572.33$144.15
$145.00$150.00Aug 21$0.33$4.67$0.3314.15$145.33
$145.00$155.00Aug 28$0.68$9.32$0.6813.71$145.68
$134.00$135.00Aug 14$0.10$0.90$0.109.00$134.10
$143.00$144.00Aug 21$0.10$0.90$0.109.00$143.10
BEAR PUT (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$115.00$110.00Aug 21$0.20$4.80$0.2024.00$114.80
$117.00$115.00Aug 21$0.13$1.87$0.1314.38$116.87
$123.00$122.00Aug 7$0.10$0.90$0.109.00$122.90
$123.00$122.00Sep 4$0.10$0.90$0.109.00$122.90
$118.00$115.00Aug 28$0.31$2.69$0.318.68$117.69

Bear call spreads & bull put spreads collecting premium. Receive credit upfront, profit if stock stays in range. 165 found (best R:R 19.00, avg 1.54)

BEAR CALL (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$110.00$115.00Aug 21$4.75$4.75$0.2519.00$114.75
$115.00$118.00Aug 21$2.78$2.78$0.2212.64$117.78
$124.00$125.00Aug 7$0.90$0.90$0.109.00$124.90
$122.00$124.00Aug 7$1.78$1.78$0.228.09$123.78
$120.00$123.00Aug 21$2.65$2.65$0.357.57$122.65
BULL PUT (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$145.00$137.00Aug 7$6.98$6.98$1.026.84$138.02
$134.00$133.00Jul 31$0.87$0.87$0.136.69$133.13
$140.00$139.00Aug 21$0.85$0.85$0.155.67$139.15
$124.00$123.00Sep 4$0.82$0.82$0.184.56$123.18
$145.00$140.00Aug 21$3.95$3.95$1.053.76$141.05

Same strike, different expirations. Sell near-term, buy far-term. Profits from time decay differential. 52 found (avg debit $1.11, cheapest $0.13)

CALLS (5)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$115.00Aug 14Aug 21$0.1343.1%37.3%
$155.00Jul 31Aug 21$0.2375.0%37.3%
$150.00Aug 7Aug 21$0.2938.4%33.5%
$143.00Jul 31Aug 7$0.3948.5%39.4%
$119.00Jul 31Aug 7$0.5053.6%48.9%
PUTS (5)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$116.00Jul 31Aug 7$0.1563.6%46.2%
$110.00Jul 31Aug 21$0.1786.4%40.3%
$115.00Aug 7Aug 21$0.1850.9%37.3%
$145.00Aug 7Aug 21$0.2042.0%31.9%
$119.00Jul 31Aug 7$0.4453.6%48.9%

Buy call + put at the same strike and expiry. Profits from large moves in either direction. 65 found (cheapest 2.28% of stock, avg 7.00%)

StrikeExpiryCall$Put$TotalBE LowBE HighCost%
$132.00Jul 31$1.44$1.57$3.01$128.99$135.012.28%
$131.00Jul 31$1.90$1.14$3.04$127.96$134.042.31%
$133.00Jul 31$1.03$2.01$3.04$129.96$136.042.31%
$130.00Jul 31$2.64$0.76$3.40$126.60$133.402.58%
$134.00Jul 31$0.69$2.88$3.57$130.43$137.572.71%
$135.00Jul 31$0.45$3.31$3.76$131.24$138.762.85%
$129.00Jul 31$3.35$0.45$3.80$125.20$132.802.88%
$128.00Jul 31$4.13$0.39$4.52$123.48$132.523.43%
$127.00Jul 31$5.05$0.17$5.22$121.78$132.223.96%
$137.00Jul 31$0.19$5.55$5.74$131.26$142.744.35%

Buy OTM call + OTM put at different strikes. Cheaper than straddles, needs bigger move to profit. 145 found (cheapest 0.36% of stock, avg 4.08%)

Call KPut KExpiryCall$Put$TotalBE LowBE High
$138.00$127.00Jul 31$0.31$0.17$0.48$126.52$138.48
$135.00$127.00Jul 31$0.45$0.17$0.62$126.38$135.62
$138.00$128.00Jul 31$0.31$0.39$0.70$127.30$138.70
$138.00$129.00Jul 31$0.31$0.45$0.76$128.24$138.76
$135.00$128.00Jul 31$0.45$0.39$0.84$127.16$135.84
$134.00$127.00Jul 31$0.69$0.17$0.86$126.14$134.86
$135.00$129.00Jul 31$0.45$0.45$0.90$128.10$135.90
$138.00$130.00Jul 31$0.31$0.76$1.07$128.93$139.07
$134.00$128.00Jul 31$0.69$0.39$1.08$126.92$135.08
$134.00$129.00Jul 31$0.69$0.45$1.14$127.86$135.14

Sell OTM put spread + OTM call spread. Collect premium, profit if stock stays between breakevens. 250 found (best R:R 14.38, avg credit $1.21)

Put SpreadCall SpreadExpiryCreditMax LossR:RBE LowBE High
120/121127/129Aug 21$1.87$0.1314.38$119.13$128.87
115/117120/123Aug 21$2.78$0.2212.64$114.22$122.78
122/123132/134Sep 4$1.85$0.1512.33$121.15$133.85
117/119123/125Aug 21$1.84$0.1611.50$117.16$124.84
124/125127/129Aug 21$1.83$0.1710.76$123.17$128.83
122/123130/132Aug 14$1.82$0.1810.11$121.18$131.82
117/119125/127Aug 21$1.82$0.1810.11$117.18$126.82
125/126132/134Aug 14$1.81$0.199.53$124.19$133.81
115/117127/129Aug 21$1.80$0.209.00$115.20$128.80
122/123135/136Aug 28$0.90$0.109.00$122.10$135.90

Buy lower + upper strikes, sell 2x middle strike. Low cost, max profit at the middle strike at expiry. 75 found (best R:R 20.74, cheapest $0.05)

CALLS (5)
LowMidHighExpiryDebitMax GainR:R
$145.00$150.00$155.00Aug 21$0.23$4.7720.74
$142.00$143.00$144.00Jul 31$0.06$0.9415.67
$130.00$131.00$132.00Aug 7$0.06$0.9415.67
$137.00$138.00$139.00Aug 21$0.06$0.9415.67
$142.00$143.00$144.00Aug 21$0.06$0.9415.67
PUTS (5)
LowMidHighExpiryDebitMax GainR:R
$130.00$131.00$132.00Jul 31$0.05$0.9519.00
$133.00$134.00$135.00Aug 7$0.05$0.9519.00
$120.00$121.00$122.00Jul 31$0.06$0.9415.67
$129.00$130.00$131.00Jul 31$0.07$0.9313.29
$127.00$128.00$129.00Aug 7$0.07$0.9313.29

Buy 1 option, sell 2 at a different strike (1:2 ratio). Can be entered for a credit. Unlimited risk on naked leg. 80 found (best net $-0.03, 71 credits)

CALLS (5)
Buy KSell KRatioExpiryNetMax Gain
$126.00$132.001:2Aug 28-$0.86$5.14
$145.00$150.001:2Aug 21-$0.03$4.97
$150.00$155.001:2Aug 21-$0.16$4.84
$124.00$131.001:2Sep 4-$2.27$4.73
$140.00$145.001:2Sep 4-$0.36$4.64
PUTS (5)
Buy KSell KRatioExpiryNetMax Gain
$116.00$110.001:2Jul 31-$0.03$5.97
$115.00$110.001:2Aug 21$0.00$5.00
$114.00$110.001:2Aug 28-$0.26$3.74
$119.00$116.001:2Jul 31-$0.02$2.98
$118.00$115.001:2Aug 28-$0.17$2.83

Sell OTM calls against 100 shares you own. Collect premium for income, capped upside at strike. Yield% = premium/stock price. 56 found (best yield 3.64%, avg 1.37%)

StrikeExpiryBidDeltaOTM%Yield%If Called%VolOI
$132.00Sep 4$4.800.530.1%3.64%3.78%1--
$132.00Aug 21$4.450.510.1%3.38%3.51%81158
$132.00Aug 28$4.400.510.1%3.34%3.47%121
$133.00Aug 28$4.000.480.9%3.03%3.93%218
$132.00Aug 14$3.950.500.1%3.00%3.13%1--
$133.00Aug 21$3.750.480.9%2.84%3.74%70108
$134.00Aug 21$3.450.451.6%2.62%4.27%55318
$132.00Aug 7$3.350.510.1%2.54%2.68%33164
$134.00Sep 4$3.150.461.6%2.39%4.04%1--
$135.00Aug 21$3.100.412.4%2.35%4.76%1.6K5.1K

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 21,246
Total Puts 9,883
Put/Call Ratio 0.47
Net Difference 11,363

Prior's Put/Call Breakdown

Total Calls 9,192
Total Puts 6,514
Put/Call Ratio 0.71
Net Difference 2,678

Prior 7-Day Put/Call Summary

Total Calls 139,945
Total Puts 30,758
Average Put/Call Ratio 0.31
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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