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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 177,294 puts trading, or 7x expected. Most active are Feb-25 98 puts and Feb-25 100 puts, with total volume in those strikes near 123,500 contracts. The Put/Call Ratio is 4.96, while ATM IV is up over 1 point on the day. Earnings are expected on April 24th.

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