This whale alert can help traders discover the next big trading opportunities.

Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.

Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels.

Here's the list of options activity happening in today's session:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Strike Price	Total Trade Price	Open Interest	Volume
MRK	CALL	TRADE	BEARISH	01/16/26	$110.00	$30.0K	13.7K	3.1K
PFE	PUT	SWEEP	BEARISH	03/20/26	$23.00	$29.7K	25.3K	897
LLY	CALL	SWEEP	BULLISH	01/16/26	$1100.00	$157.6K	1.9K	435
MRUS	PUT	TRADE	BULLISH	01/16/26	$95.00	$40.0K	1.6K	188
MDGL	CALL	TRADE	NEUTRAL	01/16/26	$520.00	$119.6K	568	57
ABT	PUT	TRADE	BEARISH	01/15/27	$120.00	$42.2K	953	50
ZTS	PUT	SWEEP	BULLISH	04/17/26	$125.00	$34.3K	193	44
NTLA	CALL	TRADE	NEUTRAL	01/21/28	$2.50	$29.8K	953	40
REGN	CALL	TRADE	BULLISH	03/20/26	$810.00	$60.9K	81	39
ABVX	PUT	TRADE	BULLISH	08/21/26	$120.00	$90.6K	12	0

Explanation

These bullet-by-bullet explanations have been constructed using the accompanying table.

• For MRK (NYSE:MRK), we notice a call option trade that happens to be bearish, expiring in 22 day(s) on January 16, 2026. This event was a transfer of 235 contract(s) at a $110.00 strike. The total cost received by the writing party (or parties) was $30.0K, with a price of $128.0 per contract. There were 13781 open contracts at this strike prior to today, and today 3189 contract(s) were bought and sold.

• Regarding PFE (NYSE:PFE), we observe a put option sweep with bearish sentiment. It expires in 85 day(s) on March 20, 2026. Parties traded 743 contract(s) at a $23.00 strike. This particular put needed to be split into 12 different trades to become filled. The total cost received by the writing party (or parties) was $29.7K, with a price of $40.0 per contract. There were 25325 open contracts at this strike prior to today, and today 897 contract(s) were bought and sold.

• Regarding LLY (NYSE:LLY), we observe a call option sweep with bullish sentiment. It expires in 22 day(s) on January 16, 2026. Parties traded 72 contract(s) at a $1100.00 strike. This particular call needed to be split into 15 different trades to become filled. The total cost received by the writing party (or parties) was $157.6K, with a price of $2190.0 per contract. There were 1981 open contracts at this strike prior to today, and today 435 contract(s) were bought and sold.

• Regarding MRUS (NASDAQ:MRUS), we observe a put option trade with bullish sentiment. It expires in 22 day(s) on January 16, 2026. Parties traded 50 contract(s) at a $95.00 strike. The total cost received by the writing party (or parties) was $40.0K, with a price of $800.0 per contract. There were 1603 open contracts at this strike prior to today, and today 188 contract(s) were bought and sold.

• For MDGL (NASDAQ:MDGL), we notice a call option trade that happens to be neutral, expiring in 22 day(s) on January 16, 2026. This event was a transfer of 13 contract(s) at a $520.00 strike. The total cost received by the writing party (or parties) was $119.6K, with a price of $9200.0 per contract. There were 568 open contracts at this strike prior to today, and today 57 contract(s) were bought and sold.

• Regarding ABT (NYSE:ABT), we observe a put option trade with bearish sentiment. It expires in 386 day(s) on January 15, 2027. Parties traded 50 contract(s) at a $120.00 strike. The total cost received by the writing party (or parties) was $42.2K, with a price of $845.0 per contract. There were 953 open contracts at this strike prior to today, and today 50 contract(s) were bought and sold.

• For ZTS (NYSE:ZTS), we notice a put option sweep that happens to be bullish, expiring in 113 day(s) on April 17, 2026. This event was a transfer of 44 contract(s) at a $125.00 strike. This particular put needed to be split into 20 different trades to become filled. The total cost received by the writing party (or parties) was $34.3K, with a price of $780.0 per contract. There were 193 open contracts at this strike prior to today, and today 44 contract(s) were bought and sold.

• Regarding NTLA (NASDAQ:NTLA), we observe a call option trade with neutral sentiment. It expires in 757 day(s) on January 21, 2028. Parties traded 40 contract(s) at a $2.50 strike. The total cost received by the writing party (or parties) was $29.8K, with a price of $745.0 per contract. There were 953 open contracts at this strike prior to today, and today 40 contract(s) were bought and sold.

• Regarding REGN (NASDAQ:REGN), we observe a call option trade with bullish sentiment. It expires in 85 day(s) on March 20, 2026. Parties traded 14 contract(s) at a $810.00 strike. The total cost received by the writing party (or parties) was $60.9K, with a price of $4350.0 per contract. There were 81 open contracts at this strike prior to today, and today 39 contract(s) were bought and sold.

• For ABVX (NASDAQ:ABVX), we notice a put option trade that happens to be bullish, expiring in 239 day(s) on August 21, 2026. This event was a transfer of 40 contract(s) at a $120.00 strike. The total cost received by the writing party (or parties) was $90.6K, with a price of $2265.0 per contract. There were 12 open contracts at this strike prior to today, and today 0 contract(s) were bought and sold.

Options Alert Terminology
- Call Contracts: The right to buy shares as indicated in the contract.
- Put Contracts: The right to sell shares as indicated in the contract.
- Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it.
- Premium/Option Price: The price of the contract.

For more information, visit our Guide to Understanding Options Alerts or read more about unusual options activity.

This article was generated by Benzinga's automated content engine and reviewed by an editor.