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Merck put volume heavy and directionally bearish

Merck put volume heavy and directionally bearish

Bearish flow noted in Merck (MRK) with 10,338 puts trading, or 1.1x expected. Most active are Jan-25 110 puts and Jan-25 115 puts, with total volume in those strikes near 5,800 contracts. The Put/Call Ratio is 2.24, while ATM IV is up over 1 point on the day. Earnings are expected on February 4th.

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