01 — MRK · COVERED CALLS

Best MRK covered calls 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
$152.5 call · Dec 4
36 DAYS · 8.2% OTM · SELL TO OPEN
Credit
$360
Return
2.55%
PoP
63%
StrikeExpirationCreditReturn ↓PoP
$152.5
8.2% OTM
Nov 27
29 days
$295
$2.95 / share
2.09%65%
$155
10.0% OTM
Dec 4
36 days
$245
$2.45 / share
1.74%70%
$152.5
8.2% OTM
Nov 20
22 days
$213
$2.13 / share
1.51%67%
$155
10.0% OTM
Nov 27
29 days
$198
$1.98 / share
1.4%72%
$155
10.0% OTM
Nov 20
22 days
$186
$1.86 / share
1.32%75%
$210
49.0% OTM
Nov 27
29 days
$0
$0.00 / share
0%70%
$190
34.8% OTM
Dec 4
36 days
$0
$0.00 / share
0%70%
$195
38.4% OTM
Dec 4
36 days
$0
$0.00 / share
0%70%
$200
41.9% OTM
Dec 4
36 days
$0
$0.00 / share
0%70%
10 of 12 matchesCustomize filters →

03 — Strategy

Covered Calls, plainly explained

Neutral-to-mildly bullish traders focused on steady premium collection.

P&L at expiration · $152.5 call · 36 DTE

$0+$1,517losses$137.33 BREAKEVEN$153 STRIKE

Key numbers

Premium collected+$360
Max profit+$1,517
Breakeven$137.33
Capped above$152.5
Probability of profit63%
Days to expiration36

When this trade makes sense

Use when

  • ✓You already own 100+ shares of the stock
  • ✓You'd be fine selling at the strike price
  • ✓You think the stock goes flat or slightly up
  • ✓IV rank is elevated — premiums are rich

Avoid when

  • ✕You think the stock is about to rip higher
  • ✕You're attached to the shares (tax, conviction)
  • ✕Earnings are inside the expiration window
  • ✕Premiums are unusually low — nothing to collect
Read the full covered calls guide →

05 — RUN IT LIVE

See the highest chance of profit on MRK.

Option Agent scans live chains and recommends setups based on current market conditions.

Analyze MRK free →

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.