Notable Monday Option Activity: MDGL, MRK, BHVN

Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Madrigal Pharmaceuticals Inc (Symbol: MDGL), where a total of 1,259 contracts have traded so far, representing approximately 125,900 underlying shares. That amounts to about 45.8% of MDGL's average daily trading volume over the past month of 275,140 shares. Particularly high volume was seen for the $400 strike call option expiring April 17, 2026, with 500 contracts trading so far today, representing approximately 50,000 underlying shares of MDGL. Below is a chart showing MDGL's trailing twelve month trading history, with the $400 strike highlighted in orange:

Merck & Co Inc (Symbol: MRK) options are showing a volume of 58,614 contracts thus far today. That number of contracts represents approximately 5.9 million underlying shares, working out to a sizeable 45% of MRK's average daily trading volume over the past month, of 13.0 million shares. Particularly high volume was seen for the $100 strike call option expiring September 18, 2026, with 20,020 contracts trading so far today, representing approximately 2.0 million underlying shares of MRK. Below is a chart showing MRK's trailing twelve month trading history, with the $100 strike highlighted in orange:

And Biohaven Ltd (Symbol: BHVN) options are showing a volume of 10,516 contracts thus far today. That number of contracts represents approximately 1.1 million underlying shares, working out to a sizeable 44.9% of BHVN's average daily trading volume over the past month, of 2.3 million shares. Particularly high volume was seen for the $50 strike call option expiring December 19, 2025, with 2,706 contracts trading so far today, representing approximately 270,600 underlying shares of BHVN. Below is a chart showing BHVN's trailing twelve month trading history, with the $50 strike highlighted in orange:

For the various different available expirations for MDGL options, MRK options, or BHVN options, visit StockOptionsChannel.com.

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