MRK option chain

Strikes around the forward, as they were quoted at the close

Data as of 6 November 2026 (end of day)

2026-11-13(7 days)ATM 33.32%±6.77skew +2.51

Calls					Strike	Puts
Volume	Open int	Bid	Ask	IV		IV	Bid	Ask	Open int	Volume
18	85	$12.30	$14.15	—	$134.00	—	—	—	—	—
12	38	$11.25	$12.80	—	$135.00	—	—	—	—	—
14	81	$10.50	$11.80	—	$136.00	37.90%	$0.19	$0.31	138	5
20	79	$9.60	$10.45	—	$137.00	37.60%	$0.28	$0.38	71	77
30	97	$8.50	$9.60	—	$138.00	—	—	—	—	—
50	56	$7.60	$8.75	—	$139.00	35.61%	$0.41	$0.58	44	1
40	353	$6.85	$7.80	—	$140.00	35.58%	$0.58	$0.73	131	39
17	267	$5.90	$6.95	—	$141.00	34.99%	$0.73	$0.91	36	21
16	76	$5.40	$6.30	—	$142.00	34.56%	$0.96	$1.10	72	678
6	29	$4.80	$5.20	—	$143.00	34.31%	$1.19	$1.40	56	131
23	36	$4.00	$4.60	—	$144.00	33.54%	$1.44	$1.70	283	365
44	137	$3.50	$3.80	—	$145.00	33.63%	$1.83	$2.09	375	92
16	63	$2.82	$3.25	—	$146.00	32.92%	$2.21	$2.48	14	584
182	29	$2.35	$2.72	33.36%	$147.00	—	$2.71	$3.05	36	50
191	69	$1.84	$2.22	32.56%	$148.00	—	$3.10	$3.55	342	0
23	118	$1.51	$1.82	32.78%	$149.00	—	$3.70	$4.15	3	0
151	124	$1.16	$1.47	32.47%	$150.00	—	$4.40	$4.80	69	4
70	186	$0.57	$0.81	32.05%	$152.50	—	$5.65	$6.85	206	0
106	428	$0.26	$0.42	32.04%	$155.00	—	$7.60	$9.65	20	0
—	—	—	—	—	$157.50	—	$9.90	$11.90	16	0
105	328	$0.03	$0.09	31.74%	$160.00	—	—	—	—	—

Forward $146.65. The 25-delta put carries +2.51 volatility points over the 25-delta call.

2026-11-20(14 days)ATM 33.15%±9.53skew +1.82

Calls					Strike	Puts
Volume	Open int	Bid	Ask	IV		IV	Bid	Ask	Open int	Volume
—	—	—	—	—	$134.00	35.58%	$0.35	$0.53	316	16
3	185	$11.60	$13.30	—	$135.00	36.10%	$0.52	$0.64	9,814	38
0	3	$10.85	$12.75	—	$136.00	35.74%	$0.63	$0.76	431	43
0	5	$10.15	$11.60	—	$137.00	35.09%	$0.72	$0.90	211	1
2	2	$9.40	$10.90	—	$138.00	35.09%	$0.92	$1.06	124	7
4	10	$8.55	$9.95	—	$139.00	34.66%	$1.07	$1.26	124	0
2	644	$7.85	$9.20	—	$140.00	34.52%	$1.30	$1.48	4,259	60
0	172	$6.95	$8.40	—	$141.00	34.08%	$1.46	$1.78	2,824	18
0	573	$6.50	$6.90	—	$142.00	34.65%	$1.79	$2.17	243	30
0	103	$5.65	$6.20	—	$143.00	33.89%	$2.12	$2.37	71	28
13	93	$5.15	$5.60	—	$144.00	34.03%	$2.39	$2.89	116	0
19	6,274	$4.45	$5.00	—	$145.00	33.04%	$2.80	$3.10	4,973	3
8	76	$3.95	$4.35	—	$146.00	32.95%	$3.20	$3.60	2,994	7
26	2,835	$3.50	$3.85	33.16%	$147.00	—	$3.70	$4.15	310	7
19	65	$3.00	$3.35	32.76%	$148.00	—	$4.20	$4.60	69	1
35	450	$2.61	$2.93	32.84%	$149.00	—	$4.70	$5.25	13	7
148	6,009	$2.30	$2.50	32.87%	$150.00	—	$5.30	$5.90	1,301	0
28	322	$1.46	$1.68	32.26%	$152.50	—	$7.05	$7.60	48	0
199	4,328	$0.88	$1.05	31.62%	$155.00	—	$8.35	$9.70	352	0
10	1,113	$0.53	$0.70	31.97%	$157.50	—	—	—	—	—
676	4,892	$0.35	$0.40	32.16%	$160.00	—	$12.45	$14.55	140	0

Forward $146.75. The 25-delta put carries +1.82 volatility points over the 25-delta call.

2026-11-27(21 days)ATM 31.34%±11.05skew +1.89

Calls					Strike	Puts
Volume	Open int	Bid	Ask	IV		IV	Bid	Ask	Open int	Volume
0	21	$16.25	$18.60	—	$130.00	—	—	—	—	—
0	17	$15.95	$17.75	—	$131.00	—	—	—	—	—
2	25	$11.95	$13.80	—	$135.00	34.12%	$0.79	$0.99	46	5
—	—	—	—	—	$137.00	34.35%	$1.07	$1.48	5	3
0	1	$9.80	$10.60	—	$138.00	33.29%	$1.27	$1.51	18	5
0	38	$9.15	$10.75	—	$139.00	33.34%	$1.53	$1.74	5	1
0	15	$7.85	$9.75	—	$140.00	32.95%	$1.74	$1.98	95	17
0	43	$7.85	$8.50	—	$141.00	35.08%	$1.97	$2.86	4	0
0	3	$7.05	$7.60	—	$142.00	32.78%	$2.33	$2.60	12	3
—	—	—	—	—	$143.00	33.15%	$2.55	$3.20	6	0
5	51	$5.80	$6.75	—	$144.00	33.74%	$2.95	$3.75	1,302	0
1	140	$5.05	$5.65	—	$145.00	32.05%	$3.05	$4.05	81	0
1	10	$4.60	$5.50	—	$146.00	32.15%	$3.85	$4.20	9	0
2	3	$4.15	$4.70	31.63%	$147.00	—	$4.20	$4.70	17	0
6	72	$3.65	$4.10	31.02%	$148.00	—	$4.50	$5.45	11	0
1	21	$3.20	$4.10	32.49%	$149.00	—	$5.30	$6.00	13	0
22	203	$2.85	$3.25	31.01%	$150.00	—	$5.90	$6.55	16	0
2	103	$2.02	$2.36	30.85%	$152.50	—	$7.55	$8.05	13	0
24	463	$1.27	$1.86	31.05%	$155.00	—	$9.15	$10.00	4	0
0	352	$0.93	$1.15	30.66%	$157.50	—	$10.55	$12.10	3	0
2	144	$0.63	$0.91	31.68%	$160.00	—	—	—	—	—

Forward $146.97. The 25-delta put carries +1.89 volatility points over the 25-delta call.

2026-12-04(28 days)ATM 31.76%±12.93skew +3.20

Calls					Strike	Puts
Volume	Open int	Bid	Ask	IV		IV	Bid	Ask	Open int	Volume
0	1	$12.35	$14.25	—	$135.00	34.03%	$1.23	$1.41	15	12
—	—	—	—	—	$136.00	34.24%	$1.21	$1.89	12	2
0	2	$10.90	$12.75	—	$137.00	33.00%	$1.50	$1.77	17	10
—	—	—	—	—	$138.00	33.56%	$1.67	$2.23	9	0
—	—	—	—	—	$139.00	33.56%	$1.81	$2.64	4	14
0	1	$9.15	$9.85	—	$140.00	32.45%	$2.19	$2.56	80	1
—	—	—	—	—	$141.00	33.34%	$2.50	$3.15	11	0
0	1	$7.65	$8.90	—	$142.00	32.42%	$2.84	$3.25	2	0
0	7	$7.10	$7.90	—	$143.00	32.26%	$3.20	$3.60	109	0
—	—	—	—	—	$144.00	32.03%	$3.60	$3.95	60	0
0	7	$5.80	$6.90	—	$145.00	32.26%	$3.70	$4.80	11	4
13	2	$5.30	$6.30	—	$146.00	31.82%	$4.35	$4.95	29	10
133	37	$4.70	$5.50	—	$147.00	—	$4.75	$5.45	2	11
0	20	$4.15	$5.20	31.76%	$148.00	—	$5.20	$6.10	0	5
0	8	$3.85	$4.85	32.44%	$149.00	—	$5.85	$6.80	19	0
7	69	$3.55	$4.00	31.39%	$150.00	—	$6.05	$7.10	2	0
17	813	$2.51	$3.05	30.66%	$152.50	—	—	—	—	—
10	133	$1.86	$2.20	30.36%	$155.00	—	—	—	—	—
81	49	$1.31	$1.61	30.21%	$157.50	—	$10.90	$13.00	4	0
18	170	$0.95	$1.13	30.21%	$160.00	—	—	—	—	—
1	167	$0.61	$0.85	30.26%	$162.50	—	—	—	—	—

Forward $147.00. The 25-delta put carries +3.20 volatility points over the 25-delta call.

2026-12-11(35 days)ATM 32.03%±14.57skew +0.89

Calls					Strike	Puts
Volume	Open int	Bid	Ask	IV		IV	Bid	Ask	Open int	Volume
0	13	$16.95	$19.15	—	$130.00	—	—	—	—	—
0	2	$16.10	$18.45	—	$131.00	—	—	—	—	—
—	—	—	—	—	$135.00	34.00%	$1.38	$2.17	1	7
2	3	$11.95	$14.25	—	$136.00	33.53%	$1.57	$2.33	1	201
0	2	$11.20	$13.45	—	$137.00	34.48%	$1.77	$2.91	1	0
—	—	—	—	—	$138.00	32.53%	$1.78	$2.90	6	1
—	—	—	—	—	$139.00	32.98%	$2.16	$3.25	2	0
0	2	$9.65	$10.95	—	$140.00	35.56%	$2.63	$4.25	7	2
2	1	$7.65	$8.70	—	$143.00	—	—	—	—	—
0	1	$6.85	$8.25	—	$144.00	32.78%	$4.00	$5.10	1	0
0	2	$5.65	$7.55	—	$145.00	31.34%	$4.05	$5.45	213	0
0	1	$5.90	$7.05	—	$146.00	—	—	—	—	—
0	11	$5.35	$6.85	34.14%	$147.00	—	—	—	—	—
0	2	$4.05	$6.00	30.74%	$148.00	—	—	—	—	—
415	14	$3.90	$5.05	32.36%	$150.00	—	$6.80	$7.90	3	0
0	8	$3.05	$3.85	31.69%	$152.50	—	$8.50	$9.35	16	0
1	11	$2.31	$3.25	32.22%	$155.00	—	—	—	—	—
0	7	$1.67	$2.47	31.64%	$157.50	—	—	—	—	—
37	26	$1.21	$1.66	30.56%	$160.00	—	—	—	—	—

Forward $146.86. The 25-delta put carries +0.89 volatility points over the 25-delta call.

2026-12-18(42 days)ATM 31.60%±15.72skew +3.81

Calls					Strike	Puts
Volume	Open int	Bid	Ask	IV		IV	Bid	Ask	Open int	Volume
0	56	$70.60	$73.85	—	$75.00	—	—	—	—	—
0	71	$65.85	$68.50	—	$80.00	—	—	—	—	—
0	303	$61.15	$63.30	—	$85.00	—	—	—	—	—
0	231	$56.10	$58.45	—	$90.00	—	—	—	—	—
8	280	$51.05	$53.00	—	$95.00	—	—	—	—	—
0	611	$46.00	$48.20	—	$100.00	—	—	—	—	—
0	2,233	$41.00	$44.05	—	$105.00	—	—	—	—	—
10	2,260	$36.25	$38.40	—	$110.00	—	—	—	—	—
0	548	$31.45	$33.20	—	$115.00	—	—	—	—	—
1	503	$27.15	$28.60	—	$120.00	36.34%	$0.30	$0.41	1,799	65
0	924	$22.20	$24.00	—	$125.00	35.58%	$0.64	$0.77	1,729	13
8	1,282	$17.80	$19.00	—	$130.00	34.35%	$1.22	$1.28	1,981	73
0	1,640	$13.60	$14.65	—	$135.00	33.68%	$2.13	$2.26	2,490	251
6	3,546	$9.95	$10.55	—	$140.00	32.84%	$3.45	$3.70	2,249	1,854
46	1,170	$6.75	$7.55	—	$145.00	32.11%	$5.35	$5.70	3,044	21
129	2,401	$4.55	$4.85	31.21%	$150.00	—	$7.80	$8.30	528	6
50	4,116	$2.74	$3.25	31.05%	$155.00	—	$10.55	$12.10	455	3
121	2,413	$1.55	$1.78	29.88%	$160.00	—	$14.35	$16.10	48	0
66	5,913	$0.85	$1.00	29.68%	$165.00	—	$18.30	$20.40	24	0
23	13,866	$0.51	$0.59	30.39%	$170.00	—	$23.05	$25.15	2	0
6	10,841	$0.27	$0.38	31.09%	$175.00	—	$27.70	$30.15	6	0

Forward $146.63. The 25-delta put carries +3.81 volatility points over the 25-delta call.

2027-01-15(70 days)ATM 30.89%±19.90skew +2.77

Calls					Strike	Puts
Volume	Open int	Bid	Ask	IV		IV	Bid	Ask	Open int	Volume
0	1,093	$65.85	$68.25	—	$80.00	—	—	—	—	—
0	2,010	$60.85	$63.25	—	$85.00	—	—	—	—	—
10	777	$55.90	$58.35	—	$90.00	—	—	—	—	—
11	1,646	$51.10	$53.00	—	$95.00	—	—	—	—	—
29	7,707	$46.70	$48.00	—	$100.00	—	—	—	—	—
20	1,799	$41.20	$43.50	—	$105.00	—	—	—	—	—
8	1,984	$36.40	$38.65	—	$110.00	—	—	—	—	—
22	2,548	$32.00	$33.70	—	$115.00	37.08%	$0.51	$0.67	3,584	9
1	5,519	$27.40	$29.05	—	$120.00	35.85%	$0.79	$1.10	2,480	2
0	2,899	$22.85	$24.60	—	$125.00	34.21%	$1.29	$1.54	3,374	11
15	2,623	$18.85	$20.30	—	$130.00	33.81%	$2.25	$2.33	16,259	513
3	3,699	$15.05	$16.05	—	$135.00	32.84%	$3.25	$3.55	1,301	92
26	2,075	$11.55	$12.20	—	$140.00	32.25%	$4.85	$5.10	3,672	64
16	4,332	$8.85	$9.50	—	$145.00	31.95%	$6.95	$7.20	1,060	55
91	3,613	$6.35	$6.70	30.60%	$150.00	—	$9.40	$9.90	777	97
74	1,761	$4.60	$4.75	30.52%	$155.00	—	$12.50	$13.00	177	19
43	3,377	$3.05	$3.30	30.07%	$160.00	—	$16.10	$16.90	114	0
53	6,016	$2.05	$2.24	30.03%	$165.00	—	$19.35	$21.30	27	0
138	3,559	$1.29	$1.50	29.89%	$170.00	—	$23.35	$25.60	1	0
8	2,529	$0.83	$1.00	30.05%	$175.00	—	$27.95	$30.15	130	0
5	2,325	$0.55	$0.64	30.26%	$180.00	—	$32.65	$34.80	5	0

Forward $147.12. The 25-delta put carries +2.77 volatility points over the 25-delta call.

2027-03-19(133 days)ATM 33.14%±29.54skew +3.22

Calls					Strike	Puts
Volume	Open int	Bid	Ask	IV		IV	Bid	Ask	Open int	Volume
1	259	$47.00	$48.45	—	$100.00	—	—	—	—	—
0	7,272	$42.30	$44.25	—	$105.00	37.99%	$0.64	$1.05	1,397	0
12	1,424	$38.40	$39.90	—	$110.00	38.41%	$1.16	$1.65	2,581	23
0	381	$33.30	$35.30	—	$115.00	37.03%	$1.75	$2.03	964	0
0	1,853	$29.55	$31.05	—	$120.00	36.27%	$2.38	$2.88	1,911	209
5	421	$25.55	$26.90	—	$125.00	35.61%	$3.55	$3.65	1,595	26
4	553	$21.80	$22.55	—	$130.00	35.00%	$4.75	$4.90	1,844	17
0	551	$18.25	$19.70	—	$135.00	34.48%	$6.25	$6.45	1,535	20
2	406	$15.20	$15.80	—	$140.00	33.87%	$8.00	$8.30	919	15
5	1,509	$12.30	$13.55	—	$145.00	33.81%	$10.20	$10.70	517	90
6	831	$10.15	$11.05	33.24%	$150.00	—	$12.75	$13.05	528	8
3	2,409	$8.05	$8.60	32.32%	$155.00	—	$15.55	$16.00	585	3
107	1,197	$6.20	$6.75	31.71%	$160.00	—	$18.80	$19.30	121	35
5	427	$4.95	$5.25	31.66%	$165.00	—	$21.90	$22.90	27	3
42	694	$3.90	$4.15	31.78%	$170.00	—	$25.65	$27.65	15	0
2	1,201	$2.87	$3.10	31.23%	$175.00	—	$29.60	$31.10	3	0
38	1,152	$2.11	$2.39	31.08%	$180.00	—	—	—	—	—
14	11,648	$1.62	$1.84	31.22%	$185.00	—	—	—	—	—
15	289	$1.26	$1.62	32.05%	$190.00	—	—	—	—	—
15	332	$0.99	$1.15	31.92%	$195.00	—	—	—	—	—
16	592	$0.73	$0.98	32.36%	$200.00	—	—	—	—	—

Forward $147.66. The 25-delta put carries +3.22 volatility points over the 25-delta call.

How to read this

Calls on the left, puts on the right, the strike between them — the layout every chain uses. Each block is one expiration, and the heading carries its days to expiry, the at-the-money implied volatility, and the one-standard-deviation move that volatility implies over that time.

Only the 21 strikes nearest the forward are stored, which is the part of the board that carries the volume. The shaded side is in the money: below the forward for calls, above it for puts.

Implied volatility is shown on the out-of-the-money side only. An in-the-money option is nearly all intrinsic value quoted on a wide market, so a volatility solved from it would look authoritative and mean very little. The price is still shown, because the price is real; the blank is deliberate.