A Barchart report shows that despite recent strong Q2 results and a 10% spike in Merck & Co., Inc. (MRK) stock today, an unusually large volume of put options has traded at a much lower strike price. Is MRK stock overvalued?
MRK is up $14.66 today at $149.83 (i.e., +10.85%) in midday trading. The stock has been moving higher over the past three months, including today's 10% spike, as can be seen in the chart below.