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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 11,740 puts trading, or 3x expected. Most active are Feb-25 95 puts and Jan-25 100 calls, with total volume in those strikes near 11,400 contracts. The Put/Call Ratio is 4.20, while ATM IV is up nearly 3 points on the day. Earnings are expected on February 4th.

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