<p>Financial giants have made a conspicuous bearish move on Merck &amp; Co. Our analysis of options history for Merck &amp; Co (NYSE:MRK) revealed 17 unusual trades.</p>
<p>Delving into the details, we found 35% of traders were bullish, while 41% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $139,802, and 14 were calls, valued at $5,333,934.</p>
<h3>Projected Price Targets</h3>
<p>Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $40.0 to $110.0 for Merck &amp; Co during the past quarter. </p>
<h3>Analyzing Volume &amp; Open Interest</h3>
<p>Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Merck &amp; Co's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Merck &amp; Co's substantial trades, within a strike price spectrum from $40.0 to $110.0 over the preceding 30 days.</p>
<h3>Merck &amp; Co Option Activity Analysis: Last 30 Days</h3>
<p><img src="https://imageproxy.pbkrs.com/https://www.benzinga.com/files/images/story/2025/1765818050_0.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Options Call Chart" original-src="https://imageproxy.pbkrs.com/https://www.benzinga.com/files/images/story/2025/1765818050_0.png"/></p>

<h3>Noteworthy Options Activity:</h3>
<p></p><table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th align="right"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>MRK</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>12/19/25</td>
<td>$61.05</td>
<td>$59.6</td>
<td>$60.3</td>
<td>$40.00</td>
<td>$4.6M</td>
<td>0</td>
<td align="right">772</td>
</tr>
<tr>
<td>MRK</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/19/25</td>
<td>$29.8</td>
<td>$29.4</td>
<td>$29.8</td>
<td>$70.00</td>
<td>$74.5K</td>
<td>31</td>
<td align="right">25</td>
</tr>
<tr>
<td>MRK</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/17/27</td>
<td>$17.75</td>
<td>$16.8</td>
<td>$17.8</td>
<td>$95.00</td>
<td>$71.2K</td>
<td>260</td>
<td align="right">40</td>
</tr>
<tr>
<td>MRK</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/18/26</td>
<td>$36.3</td>
<td>$35.55</td>
<td>$35.55</td>
<td>$65.00</td>
<td>$71.1K</td>
<td>258</td>
<td align="right">0</td>
</tr>
<tr>
<td>MRK</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>02/20/26</td>
<td>$3.25</td>
<td>$3.2</td>
<td>$3.2</td>
<td>$105.00</td>
<td>$64.0K</td>
<td>4.7K</td>
<td align="right">224</td>
</tr>
</tbody>
</table><p></p>
<h3>About Merck &amp; Co</h3>
<p>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, led by Keytruda, is a major contributor to overall sales. The company also has a substantial vaccine business aimed at preventing pediatric diseases, as well as Gardasil for human papillomavirus. Additionally, Merck sells animal health-related drugs. From a geographical perspective, 47% of the company's sales are generated from US human health (pharmaceuticals and vaccines).</p>
<h3>Where Is Merck &amp; Co Standing Right Now?</h3>
<ul>
<li>Trading volume stands at 5,509,858, with MRK's price down by -0.6%, positioned at $99.7.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 50 days.</li>
</ul>
<h3>Professional Analyst Ratings for Merck &amp; Co</h3>
<p>5 market experts have recently issued ratings for this stock, with a consensus target price of $117.4.</p>
<p><strong>Unusual Options Activity Detected: Smart Money on the Move</strong></p>
<p>Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.
* An analyst from Scotiabank persists with their Sector Outperform rating on Merck &amp; Co, maintaining a target price of $120. 
* Maintaining their stance, an analyst from B of A Securities continues to hold a Buy rating for Merck &amp; Co, targeting a price of $120. 
* Consistent in their evaluation, an analyst from Goldman Sachs keeps a Buy rating on Merck &amp; Co with a target price of $120. 
* In a positive move, an analyst from Wells Fargo has upgraded their rating to Overweight and adjusted the price target to $125. 
* Consistent in their evaluation, an analyst from Morgan Stanley keeps a Equal-Weight rating on Merck &amp; Co with a target price of $102. </p>
<p>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 &amp; Co options trades with real-time alerts from Benzinga Pro.</p>

<p>Financial giants show bearish sentiment on Merck & Co, with 41% of traders bearish and 35% bullish. Analysts from Scotiabank, B of A Securities, Goldman Sachs, Wells Fargo, and Morgan Stanley have issued ratings, with target prices ranging from $102 to $125. Merck's trading volume is 5,509,858, with a price of $99.7, down 0.6%. RSI indicators suggest the stock may be overbought. Earnings announcement expected in 50 days. Benzinga Edge highlights unusual options activity, offering insights into market movers.</p>

Merck & Co's Options: A Look at What the Big Money is Thinking