Merck (MRK) Options — Max Pain, Gamma Exposure (GEX) & Key Levels

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Expiration: Strikes:
Updated at 9/24/2026, 11:26:49
SPOT
$149.25
FORWARD
$149.57
DTE
4d
STM IV
27.6%
DNS SM
0.58%
IMPLIED MOVE
±5.40% ($8.07)
P/C OI
0.85
CALL OI
32,052
PUT OI
27,293
CALL VOL
2,290
PUT VOL
724
NET GEX
11.4M
TIMESTAMP
02:43:56 PM
Option Insights
Automated analysis based on options positioning, flow, and volatility structure.
Bullish
+40
−100 · Bearish0 · NeutralBullish · +100
KEY PRICE LEVELS
GAMMA
Positive Gamma Environment
Dealers are long gamma — they buy dips and sell rips, dampening moves. Expect mean-reversion and range-bound trading.
DEALER FLOW
Low Put/Call OI Ratio (0.85)
Call open interest dominates, indicating bullish positioning. Market makers may be short calls, creating upside fuel.
KEY LEVELS
Max Pain @ $140.0
Spot is 6.2% above Max Pain. Gravitational pull may increase as expiry approaches.
KEY LEVELS
Support $150.0 / Resistance $155.0
Put Wall at $150.0 acts as support. Call Wall at $155.0 acts as resistance. Net gamma concentration creates dealer hedging flows at these levels.
VOL STATUS
Expected Move (Straddle-mid): ±5.40% ($8.07)
ATM straddle-mid implies a ±5.40% move by expiry. Range: $141.19 — $157.31
Key Levels
OI concentration panel. Key price levels from dealer gamma positioning.
PUT WALL (SUPPORT)
$150
OI: 1.8K
CALL WALL (RESISTANCE)
$155
OI: 6.3K
MAX PAIN
$140
Expiry magnet
GAMMA FLIP
$134.85
Positive δ
SPOT
$149.25
FORWARD
$149.57
MIN IV PRICE
$167.5
Cumulative Gamma Exposure
Running sum of net GEX across strikes.
Cum. Call GEXCum. Put GEX
Dealer Gamma Exposure (GEX)
▲ Positive: 11.4M | Put Wall: $150 (1.8K) | Call Wall: $155 (6.3K)
Positive GEXNegative GEX
Greeks Exposure
Net gamma exposure by strike. Positive = dealers short gamma (mean-reversion).
PositiveNegativeNet
Volume Profile
Call and put trading volume by strike.
Call VolumePut Volume
Option Prices
Call (up) / put (down) mid price by strike.
Call MidPut Mid
Profit Probability
Chance a long call (up) / put (down) finishes past breakeven by expiry.
Call POPPut POP
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