01 — MRK · BEAR CALL SPREADS

Best MRK bear call spreads setups.

Pick how long you want to wait and how much risk you'll take. We score every live strike across the next 3 expirations and surface the top setups — updated hourly.

Large-cap pharma with options flow tied to Keytruda LOE, pipeline catalysts, and oncology trial readouts.

Find the best strikes →FREE · 20 ANALYSES/DAY · NO CARD
Merck
Healthcare / Pharma
MRK
$146.33+0.7% / 30d
IV rank (1y)
53.8% · moderate
Next earnings
Oct 29
Market cap
$361.0B
P/E (fwd)
15.8
Dividend
$3.32 · Sep 15
Option vol
6K /day

02 — Live setups

Suggested strikes

Choose your time horizon and risk band. Every match is scored on return, premium, and probability of profit.

Days to expiration
Probability of profit
Sort by
Top pick · credit spread
$152.5/$155 call spread · Dec 4
36 DAYS · 8.2% OTM · 3 WIDE · SELL TO OPEN
Credit
$115
Return
85.19%
PoP
63%
SpreadExpirationCreditReturn ↓PoP
$152.5 / $155
8.2% OTM · 3 wide
Nov 27
29 days
$97
$0.97 / share
63.4%65%
$155 / $157.5
10.0% OTM · 3 wide
Nov 20
22 days
$65
$0.65 / share
35.14%75%
$155 / $157.5
10.0% OTM · 3 wide
Dec 4
36 days
$45
$0.45 / share
21.95%70%
$155 / $157.5
10.0% OTM · 3 wide
Nov 27
29 days
$36
$0.36 / share
16.82%72%
$152.5 / $155
8.2% OTM · 3 wide
Nov 20
22 days
$27
$0.27 / share
12.11%67%
6 of 6 matchesCustomize filters →

03 — Strategy

Bear Call Spreads, plainly explained

Moderately bearish or neutral traders seeking defined-risk credit income.

P&L at expiration · $152.5/$155 call spread · 36 DTE

$0+$115−$135$155 LONG$153.65 BE$153 SHORT

Key numbers

Premium collected+$115
Max profit+$115
Max loss−$135
Breakeven$153.65
Spread$152.5 / $155
Probability of profit63%
Days to expiration36

When this trade makes sense

Use when

    Avoid when

      Read the full bear call spreads guide →

      05 — RUN IT LIVE

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      Option Agent is not a registered investment advisor, broker-dealer, or financial planner. All analysis, recommendations, and data are for informational and educational purposes only and do not constitute personalized investment advice. Options trading involves substantial risk of loss and is not suitable for all investors. Past probability calculations do not guarantee future results. Consult a qualified financial advisor before making investment decisions.