Investors with a lot of money to spend have taken a bullish stance on Merck & Co MRK.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with MRK, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 11 uncommon options trades for Merck & Co.
This isn't normal.
The overall sentiment of these big-money traders is split between 54% bullish and 45%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $194,659, and 8 are calls, for a total amount of $297,047.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $120.0 and $131.0 for Merck & Co, spanning the last three months.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Merck & Co's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Merck & Co's significant trades, within a strike price range of $120.0 to $131.0, over the past month.
Merck & Co Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MRK | PUT | SWEEP | BULLISH | 07/19/24 | $0.61 | $0.6 | $0.6 | $120.00 | $133.5K | 5.7K | 2.6K |
| MRK | CALL | TRADE | BULLISH | 05/17/24 | $3.2 | $3.2 | $3.2 | $128.00 | $64.0K | 1.3K | 216 |
| MRK | CALL | SWEEP | BULLISH | 05/24/24 | $11.25 | $10.65 | $11.25 | $120.00 | $42.7K | 47 | 39 |
| MRK | CALL | TRADE | BULLISH | 06/28/24 | $10.95 | $10.15 | $10.69 | $121.00 | $40.6K | 0 | 38 |
| MRK | CALL | TRADE | BEARISH | 06/21/24 | $3.6 | $3.55 | $3.55 | $130.00 | $35.1K | 19.7K | 115 |
About Merck & Co
Merck makes pharmaceutical products to treat several conditions in a number of therapeutic areas, including cardiometabolic disease, cancer, and infections. Within cancer, the firm's immuno-oncology platform is growing as a major contributor to overall sales. The company also has a substantial vaccine business, with treatments to prevent pediatric diseases as well as human papillomavirus, or HPV. Additionally, Merck sells animal health-related drugs. From a geographical perspective, just under half of the company's sales are generated in the United States.
After a thorough review of the options trading surrounding Merck & Co, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Merck & Co
- Trading volume stands at 2,602,441, with MRK's price down by -0.54%, positioned at $131.01.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 75 days.
What The Experts Say On Merck & Co
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $139.0.
- Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Merck & Co with a target price of $143.
- An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $135.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Merck & Co, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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