MCK options flow: unusual options activity in McKesson Corp.
Updated 28 September 2026, 09:54 ET
Over the last week the tape recorded 16 unusual options prints in McKesson Corp. (MCK), $1.4M of tracked premium, leaning firmly bearish. Bullish premium was $240K against $752K bearish; $749K went into calls and $640K into puts, a put call ratio of 0.85. The largest print was $478K of MCK 18 Dec 2026 $890 puts on 21 September 2026, executed at ask. The last session with prints, 25 September 2026, added 2 prints and $245K of premium. MCK closed at $866.64 on 25 September 2026, down 0.3%.
This week's unusual flow
Prints from 21 September 2026 to 25 September 2026, 5 sessions. Delayed tier: every print is shown twenty minutes after it executed, and the page is rebuilt after each session.
Net premium is bullish minus bearish premium. The put call ratio is put premium divided by call premium, weighted by money rather than by contract count. Sweeps is the share of prints executed across several exchanges at once. Read the guide: Reading the Pulse.
Largest prints of the week
| Date | Contract | Type | Size | Open int. | Premium | Execution | Sentiment | Tier |
|---|---|---|---|---|---|---|---|---|
| 21 Sep 2026 | MCK 18 Dec 2026 $890 puts | Trade | 100 | 2 | $478K | At ask | Bearish | High conviction |
| 24 Sep 2026 | MCK 21 Jan 2028 $780 calls | Trade | 10 | 16 | $194K | At midpoint | Neutral | |
| 25 Sep 2026 | MCK 21 Jan 2028 $650 calls | Trade | 6 | 23 | $166K | At bid | Neutral | |
| 23 Sep 2026 | MCK 21 Jan 2028 $900 puts | Trade | 10 | 23 | $105K | At ask | Bearish | |
| 25 Sep 2026 | MCK 20 Nov 2026 $810 calls | Sweep | 10 | 5 | $79K | At ask | Bullish | High conviction |
| 24 Sep 2026 | MCK 15 Jan 2027 $900 calls | Trade | 10 | 262 | $49K | At bid | Bearish | |
| 24 Sep 2026 | MCK 15 Jan 2027 $1,000 calls | Sweep | 21 | 73 | $38K | At ask | Bullish | Notable |
| 24 Sep 2026 | MCK 15 Jan 2027 $920 calls | Trade | 10 | 112 | $38K | At ask | Neutral | |
| 22 Sep 2026 | MCK 16 Oct 2026 $950 calls | Sweep | 64 | 82 | $36K | At ask | Bullish | High conviction |
| 24 Sep 2026 | MCK 19 Mar 2027 $1,000 calls | Trade | 10 | 38 | $34K | At bid | Bearish | |
| 21 Sep 2026 | MCK 17 Jun 2027 $1,000 calls | Trade | 6 | 12 | $31K | At ask | Bullish | |
| 21 Sep 2026 | MCK 18 Dec 2026 $870 calls | Trade | 5 | 29 | $29K | At bid | Bearish |
Size above open interest means the trade opened a position larger than everything that existed in the contract the night before. Above ask and below bid are the most aggressive executions. Read the guide: Size versus open interest.
Where the money is aimed
| Expiry | Prints | Premium | Calls share | Net premium |
|---|---|---|---|---|
| 18 Dec 2026 | 2 | $507K | 6% | -$507K |
| 21 Jan 2028 | 3 | $464K | 77% | -$105K |
| 15 Jan 2027 | 4 | $153K | 81% | -$39K |
| 16 Oct 2026 | 3 | $92K | 70% | +$36K |
| 20 Nov 2026 | 1 | $79K | 100% | +$79K |
| 19 Mar 2027 | 2 | $62K | 100% | -$6K |
The most premium, $507K, is aimed at the 18 Dec 2026 expiry; the nearest expiry with unusual prints is 16 Oct 2026.
A print in a contract expiring this week is a view about the next few days, often about a known event; a print months out is a different kind of statement. Read the guide: 0DTE options flow.
The last session, 25 September 2026
| Date | Contract | Type | Size | Open int. | Premium | Execution | Sentiment | Tier |
|---|---|---|---|---|---|---|---|---|
| 25 Sep 2026 | MCK 21 Jan 2028 $650 calls | Trade | 6 | 23 | $166K | At bid | Neutral | |
| 25 Sep 2026 | MCK 20 Nov 2026 $810 calls | Sweep | 10 | 5 | $79K | At ask | Bullish | High conviction |
Every print in MCK with its full detail, the live tape, one tap filters and saved screeners: open MCK in Options Sentiment Screener.
Price
The live quote and the price chart sit beside the ticker's flow in the app: open MCK in Options Sentiment Screener.
Analysts
The most recent analyst targets on file, from 9 firms, have a median of $1,000, 15.4% above the last close.
Calls bought at a strike above the average target are a bet that the analysts are too cautious; puts far below the price in a name they like are protection or a strong disagreement. Read the guide: Reading one ticker's flow.
About McKesson Corp.
- Exchange
- NYSE
- Sector
- Health Care
- Industry
- Wholesale
- Headquarters
- SAN FRANCISCO, Texas
- Website
- mckesson.com
McKesson Corporation provides healthcare supply chain management, retail pharmacy, community oncology and specialty care, and healthcare information solutions. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions. The RxTS segment offers CoverMyMeds solution to help patients get the medications.
In the same sector
Flow pages for other Health Care names in the S&P 500:
LLY Eli Lilly & Co.JNJ Johnson & JohnsonABBV AbbVie Inc.MRK Merck & Co. Inc.UNH UnitedHealth Group Inc.TMO Thermo Fisher Scientific Inc.AMGN Amgen Inc.GILD Gilead Sciences, Inc.
Learn
- What unusual options activity means
- Reading one ticker's flow
- Sweeps, blocks and where a trade printed
- Size versus open interest
- Bullish or bearish, how a print's sentiment is inferred
- The conviction score and whale prints
The live tape for MCK with every print's execution detail, one tap filters for calls, puts, sweeps and 0DTE, saved screeners and, for Realtime subscribers, push alerts and no delay. The same screen is in the iOS and Android apps.
Open MCK in Options Sentiment Screener