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 14 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 42% leaning bullish and 42% bearish. Among these notable options, 5 are puts, totaling $211,231, and 9 are calls, amounting to $494,632.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $95.0 and $120.0 for Merck & Co, spanning the last three months.
Insights into 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 $95.0 to $120.0, over the past month.
Merck & Co 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MRK | CALL | SWEEP | BULLISH | 09/20/24 | $2.2 | $2.19 | $2.2 | $115.00 | $106.7K | 6.3K | 805 |
| MRK | CALL | TRADE | NEUTRAL | 08/23/24 | $8.3 | $8.0 | $8.13 | $106.00 | $70.7K | 107 | 87 |
| MRK | PUT | TRADE | BEARISH | 09/20/24 | $2.45 | $2.43 | $2.45 | $114.00 | $59.2K | 0 | 292 |
| MRK | CALL | TRADE | BEARISH | 08/23/24 | $2.76 | $2.65 | $2.65 | $112.00 | $53.0K | 745 | 225 |
| MRK | CALL | SWEEP | BULLISH | 08/23/24 | $2.59 | $2.55 | $2.59 | $112.00 | $51.7K | 745 | 825 |
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
Current Position of Merck & Co
- With a trading volume of 4,033,548, the price of MRK is up by 0.65%, reaching $114.41.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 66 days from now.
Professional Analyst Ratings for Merck & Co
4 market experts have recently issued ratings for this stock, with a consensus target price of $138.5.
- Maintaining their stance, an analyst from Wells Fargo continues to hold a Equal-Weight rating for Merck & Co, targeting a price of $125.
- 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 B of A Securities has decided to maintain their Buy rating on Merck & Co, which currently sits at a price target of $145.
- An analyst from UBS has decided to maintain their Buy rating on Merck & Co, which currently sits at a price target of $142.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Merck & Co options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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