MRK
Merck & Co.Prices and gamma are point-in-time snapshots taken at the time shown. Dealer positioning is an assumption, not an observable: open interest shows that a contract exists, never which side a dealer holds. How dealer gamma is computed.
LIVE MARKET SNAPSHOT
| Call Wall | 145 |
| Put Wall | 140 |
| GEX Flip | 145 |
| Vol Trigger | 145 |
| Net GEX | $23.9M |
Cached snapshot as of 2026-09-16 09:10 UTC, live streaming data in the terminal.
MRK DEALER GAMMA BY STRIKE
Part of the SquawkFlow GEX Calculator: gamma by strike for any US stock. Compare with SPX GEX.
Net gamma exposure at each strike near MRK's spot price, signed from the dealer perspective, calls positive, puts negative. Green strikes are where hedging tends to dampen moves; red is where it tends to amplify them. Dealer positioning is an assumption rather than an observable, so treat these as a map of where hedging pressure concentrates, not a forecast.
Unit: USD of dealer gamma per 1 percent move in spot. A window of the MRK option chain, not the whole book: the 30 strikes nearest spot out of 63 seen, 1,182 contract rows spanning 17 expirations. Gamma is taken as the chain publishes it per contract; nothing here is re-priced. Crossed with the open interest carried on that chain.
New to these levels? Start with the call wall and put wall, or the zero gamma level where the sign of dealer hedging flips.
| Strike | Net GEX | Call GEX | Put GEX | Concentration |
|---|---|---|---|---|
| 125 | -$1.3M | $294.4K | -$1.6M | |
| 126 | $0 | $0 | $0 | |
| 127 | -$1.4K | $0 | -$1.4K | |
| 128 | -$6.8K | $0 | -$6.8K | |
| 129 | $0 | $0 | $0 | |
| 130 | -$2.1M | $1.1M | -$3.2M | |
| 131 | $0 | $0 | $0 | |
| 132 | -$247 | $0 | -$247 | |
| 133 | $1.7K | $1.7K | $0 | |
| 134 | -$20.6K | $432 | -$21.0K | |
| 135 | -$4.8M | $1.2M | -$6.0M | |
| 136 | -$8.9K | $1.8K | -$10.7K | |
| 137 | -$98.2K | $0 | -$98.2K | |
| 138 | -$72.5K | $19.3K | -$91.7K | |
| 139 | -$56.4K | $16.3K | -$72.7K | |
| 140PUT WALL | -$674.1K | $5.6M | -$6.3M | |
| 141 | -$310.1K | $171.9K | -$482.0K | |
| 142 | -$1.5M | $0 | -$1.5M | |
| 143SPOT | -$831.7K | $67.4K | -$899.1K | |
| 144 | -$17.5K | $702.3K | -$719.8K | |
| 145CALL WALLGEX FLIP | $15.2M | $23.0M | -$7.8M | |
| 146 | $182.1K | $182.1K | $0 | |
| 147 | $589.3K | $589.3K | $0 | |
| 148 | $220.9K | $413.3K | -$192.4K | |
| 149 | $426.3K | $426.3K | $0 | |
| 150 | $12.6M | $13.6M | -$943.9K | |
| 152.5 | $864.9K | $864.9K | $0 | |
| 155 | $3.0M | $3.4M | -$391.3K | |
| 157.5 | $465.0K | $465.0K | $0 | |
| 160 | $2.0M | $2.0M | -$24.7K |
These levels were captured September 16, 2026 from the open interest carried on the option chain. New levels post before each market open. Today's SPX gamma levels.
ABOUT MRK
Merck is a global pharmaceutical leader anchored by Keytruda, the world's top-selling cancer immunotherapy drug generating over $25 billion annually. The company also has strong franchises in vaccines (Gardasil), animal health (Organon spin-off), and a growing oncology pipeline.
WHY TRACK MRK ON SQUAWKFLOW
MRK flow is critical to monitor around Keytruda patent cliff timelines and FDA oncology decisions. Institutional positioning in MRK often reflects conviction on the broader immuno-oncology market.
MRK DATA ON SQUAWKFLOW
Options Flow
MRK options flow, unusual activity, and volume concentrations from the session chain
Latest Snapshot
Last MRK price, change, volume, and the current dealer-gamma regime
GEX Dashboard
MRK gamma exposure levels, call/put walls, and GEX flip
AI Narration
AI-powered analysis of MRK market microstructure in real time
News Sentiment
MRK news with AI sentiment scoring and impact analysis
Sector Context
Healthcare sector rotation and relative strength vs peers
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