The Mercury service manual recommends Quicksiver Premium Plus for the 240efi and Quicksilver DFI for the 250 Optimax. There probably isn't much difference, but I use what the manual recommends. Oil has few wrong answers, but has better ones than others. Walmart used to stock Premium Plus, but I have not seen it in quite a while. Premium is on most shelves. Gander Mountain, Cabelas and Fleet Farm in the midwest have Premium Plus always in stock.
I personally use 91 or better octane in all my performance 2-strokes, but did read in the service manual that 87 or higher is the recommendation. I would say try to avoid Ethenol and that many times requires 91. I guess I will try 87 this summer and see if I experience any knocking. If the engine is designed around 87 or better, it should not matter.
My sleds have a knock sensor allowing them to run lower octane. I don't think we have that on our 240 Merc.