Deep-pocketed investors have adopted a bullish approach towards Merck & Co MRK, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in MRK usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Merck & Co. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 54% leaning bullish and 27% bearish. Among these notable options, 7 are puts, totaling $387,308, and 4 are calls, amounting to $162,629.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $105.0 to $127.0 for Merck & Co over the recent three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Merck & Co stands at 2227.7, with a total volume reaching 2,560.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Merck & Co, situated within the strike price corridor from $105.0 to $127.0, throughout the last 30 days.
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 | TRADE | BULLISH | 10/18/24 | $3.05 | $2.95 | $2.98 | $110.00 | $101.3K | 10.5K | 431 |
| MRK | PUT | TRADE | NEUTRAL | 09/06/24 | $14.75 | $13.45 | $14.0 | $127.00 | $96.6K | 70 | 0 |
| MRK | CALL | TRADE | NEUTRAL | 01/17/25 | $12.45 | $12.15 | $12.29 | $105.00 | $61.4K | 5.5K | 50 |
| MRK | PUT | TRADE | BEARISH | 10/18/24 | $5.75 | $5.65 | $5.74 | $115.00 | $57.4K | 3.1K | 169 |
| MRK | PUT | SWEEP | BEARISH | 08/23/24 | $11.7 | $11.65 | $11.7 | $125.00 | $48.8K | 114 | 55 |
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.
Having examined the options trading patterns of Merck & Co, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Present Market Standing of Merck & Co
- Currently trading with a volume of 8,366,952, the MRK's price is up by 0.16%, now at $113.31.
- RSI readings suggest the stock is currently may be oversold.
- Anticipated earnings release is in 84 days.
Expert Opinions on Merck & Co
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $137.6.
- An analyst from Barclays has decided to maintain their Overweight rating on Merck & Co, which currently sits at a price target of $142.
- An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on Merck & Co, which currently sits at a price target of $134.
- Maintaining their stance, an analyst from Wells Fargo continues to hold a Equal-Weight rating for Merck & Co, targeting a price of $125.
- Maintaining their stance, an analyst from UBS continues to hold a Buy rating for Merck & Co, targeting a price of $142.
- An analyst from B of A Securities persists with their Buy rating on Merck & Co, maintaining a target price of $145.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Merck & Co with Benzinga Pro for real-time alerts.
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