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
$149.52+2.9% / 30d
IV rank (1y)
56% · moderate
Next earnings
Oct 29
Market cap
$368.9B
P/E (fwd)
16.2
Dividend
$3.32 · Sep 15
Option vol
3K /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
$155 call · Dec 4
34 DAYS · 3.7% OTM · SELL TO OPEN
Credit
$330
Return
2.21%
PoP
62%
StrikeExpirationCreditReturn ↓PoP
$155
3.7% OTM
Nov 27
27 days
$299
$2.99 / share
2%64%
$157.5
5.3% OTM
Dec 4
34 days
$255
$2.55 / share
1.71%68%
$157.5
5.3% OTM
Nov 27
27 days
$250
$2.50 / share
1.67%71%
$160
7.0% OTM
Dec 4
34 days
$235
$2.35 / share
1.57%74%
$210
40.5% OTM
Nov 27
27 days
$0
$0.00 / share
0%70%
$190
27.1% OTM
Dec 4
34 days
$0
$0.00 / share
0%70%
$195
30.4% OTM
Dec 4
34 days
$0
$0.00 / share
0%70%
$200
33.8% OTM
Dec 4
34 days
$0
$0.00 / share
0%70%
$205
37.1% OTM
Dec 4
34 days
$0
$0.00 / share
0%70%
10 of 11 matchesCustomize filters →

03 — Strategy

Covered Calls, plainly explained

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

P&L at expiration · $155 call · 34 DTE

$0+$878losses$146.22 BREAKEVEN$155 STRIKE

Key numbers

Premium collected+$330
Max profit+$878
Breakeven$146.22
Capped above$155
Probability of profit62%
Days to expiration34

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.

Alpha Hawk scans live chains and recommends setups based on current market conditions.

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