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Merck call volume above normal and directionally bullish

Bullish option flow detected in Merck (MRK) with 12,315 calls trading, 1.4x expected, and implied vol increasing over 1 point to 26.72%. Sep-25 85 calls and Aug-25 82 calls are the most active options, with total volume in those strikes near 6,300 contracts. The Put/Call Ratio is 0.20. Earnings are expected on October 30th.

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