01 — MRK · IRON CONDOR

Best MRK iron condor 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.

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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

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Top pick · 4-leg iron condor

$120/$125P + $157.5/$160C · Dec 4

36 DAYS · BOTH WINGS 5 WIDE · SELL TO OPEN

Credit

$67

Return

15.47%

PoP

72%

Wings	Expiration	Credit	Return ↓	PoP
$130P / $152.5C 5 wide wings	Nov 20 22 days	$48 $0.48 / share	10.62%	62%
$125P / $157.5C 5 wide wings	Nov 27 29 days	$32 $0.32 / share	6.84%	74%

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03 — Strategy

Iron Condor, plainly explained

Traders expecting consolidation and seeking bounded risk/reward.

P&L at expiration · $120/$125P + $157.5/$160C · 36 DTE

Key numbers

Premium collected+$67

Max profit+$67

Max loss−$433

Profit zone$124.33 — $158.17

Probability of profit72%

Days to expiration36

When this trade makes sense

Use when

Avoid when

Read the full iron condor guide →

04 — By condition

Read by market condition

High Implied Volatility

Post-Earnings IV Crush

READ →

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.

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