Tour v394
WBD
WARNER BROS DISCOVER Series A
$25.95 +0.39%
$25.99 (+0.16%)🌙
as of 07/23 07:19 PM
(7/22 21:22) ◀
|
Thursday, July 23, 2026 (7:19pm)
January 2026
|
▶ (7/24 04:10)
◀ 7/23 19:19 ▶

Option Volume

Detail
ℹ
Current (07/23) 101,688
Calls: 25,279 (25%)
Puts: 76,409 (75%)
Prior (07/22) 67,991
Calls: 29,546 (43%)
Puts: 38,445 (57%)
Current vs Prior +49.56%
Calls: -14.44% (Calls)
Puts: +98.75% (Puts)
Prior 7-Day Total 1,098,037
Calls: 407,716 (37%)
Puts: 690,321 (63%)
Prior 7-Day Average 156,862
Calls: 58,245 (37%)
Puts: 98,617 (63%)
Current vs Prior 7-Day Avg -35.17%
Calls: -56.60%
Puts: -22.52%
Sentiment BEARISH

Dollar Volume

Detail
ℹ
Current (07/23) $8.76M
Calls: $3.38M (39%)
Puts: $5.39M (61%)
Prior (07/22) $4.67M
Calls: $1.93M (41%)
Puts: $2.74M (59%)
Current vs Prior +87.59%
Calls: +74.68%
Puts: +96.72%
Prior 7-Day Total $89.19M
Calls: $23.98M (27%)
Puts: $65.21M (73%)
Prior 7-Day Average $12.74M
Calls: $3.43M (27%)
Puts: $9.32M (73%)
Current vs Prior 7-Day Avg -31.22%
Calls: -1.39%
Puts: -42.19%
Sentiment BEARISH

Put/Call Ratio

Detail
ℹ
Current (07/23) 3.02
Prior (07/22) 1.30
Current vs Prior +132.30%
Prior 7-Day Average 1.65
Current vs Prior 7-Day Avg +83.54%
Sentiment BEARISH

Open Interest

Detail
ℹ
Current (07/23) 1,465,128
Calls: 536,513 (37%)
Puts: 928,615 (63%)
Prior (07/22) 1,915,187
Calls: 613,076 (32%)
Puts: 1,302,111 (68%)
Current vs Prior -23.50%
Prior 7-Day Total 12,878,472
Calls: 4,524,285 (35%)
Puts: 8,354,187 (65%)
Prior 7-Day Average 1,839,781
Calls: 646,326 (35%)
Puts: 1,193,455 (65%)
Current vs Prior 7-Day Avg -20.36%
Sentiment BULLISH

Expected Move

Detail
ℹ
Expiry (07/24) | Next (07/31)Expiry (08/21) | Next (09/18)
Current 6.05% | 6.40%11.33% | 13.03%
Prior 3.09% | 7.16%10.52% | 14.62%
Current vs Prior +95.49% | -10.62%+7.67% | -10.93%
Prior 7-Day Avg 4.21% | 7.63%7.39% | 12.33%
Current vs 7-Day Avg +43.75% | -16.20%+53.20% | +5.62%
Prior 7-Day Eod 3.09% | 7.16%10.52% | 14.62%
Current vs 7-Day Eod +95.49% | -10.62%+7.67% | -10.93%
Sentiment BEARISHBEARISH

Relative Spread

Detail
ℹ
Expiry | Next
Current 34.07% | 95.34%
Calls: 24.39% | 42.00%
Puts: 43.75% | 148.68%
Prior 34.07% | 95.34%
Calls: 24.39% | 42.00%
Puts: 43.75% | 148.68%
Current vs Prior +0.00% | +0.00%
Prior 7-Day Avg 34.07% | 95.34%
Calls: 24.39% | 42.00%
Puts: 43.75% | 148.68%
Current vs 7-Day Avg +0.00% | +0.00%
Liquidity Expensive
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🤖 AI Insights

Moderately bearish flow with 61% put dollar volume ($5.39M). Elevated premium activity with dollar volume up 88% vs prior. Extreme bearish P/C ratio of 3.02 - heavy put buying. P/C ratio rising 132% - increased hedging/bearish positioning.

Smart Money BEARISH
Retail Flow BEARISH
Overall BEARISH
Dollar Volume
Option Volume
Put/Call Ratio
Open Interest
Expected Move
Current BEARISH
Prior BEARISH
7-Day Avg BEARISH
Current BEARISH
Prior BEARISH
7-Day Avg NEUTRAL
Current BEARISH
Prior BEARISH
7-Day Avg NEUTRAL
Current BEARISH
Prior BEARISH
7-Day Avg NEUTRAL
Current BEARISH
Prior BULLISH
7-Day Avg BULLISH

📈 Options Analysis

🎯 Tightest Spreads
💰 Best Value Under $1
📊 High Delta (ITM)
🔥 High Volume
⏰ Backwardation
📈 Debit Spreads
📉 Credit Spreads
📅 Calendar Spreads
⚡ Straddles
🔀 Strangles
🦅 Iron Condors
🦋 Butterflies
⚖️ Ratio Spreads
🛡️ Covered Calls

Options with the tightest bid-ask spreads (<10%). Lower spreads = better fills and less slippage. Showing top -- of results (avg --%, best --%)

No options available for this category

Affordable options under $1.00 per contract. Great for defined-risk strategies with minimal capital. 1 found (avg $0.26, cheapest $0.26)

CALLS (1)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$29.00Aug 210.240.27$0.2611.5%4120.15136.1K
PUTS (0)
No puts meet the criteria

In-the-money options with delta >0.50. Higher probability of profit, lower leverage. 22 found (avg delta 0.84, highest 1.03)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$21.00Jul 243.357.00$5.1870.5%2331.0338
$22.00Jul 242.525.35$3.9372.0%41.03--
$23.00Jul 241.094.45$2.77121.3%451.03113
$24.50Jul 240.013.50$1.76198.3%61.02--
$25.00Jul 240.012.99$1.50198.7%201.02142
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$26.50Jul 240.010.90$0.46193.5%831.001.6K
$27.00Jul 240.203.10$1.65175.8%8191.003.0K
$27.00Jul 310.013.20$1.61198.1%9010.83518
$28.00Aug 211.903.25$2.5852.3%120.743.2K
$26.50Jul 310.031.58$0.81191.4%560.681.5K

Most actively traded options today. High liquidity = easy entry/exit. 68 active (total vol 54.3K, top 30.4K)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.00Aug 210.400.53$0.4727.7%5.6K0.24116.5K
$27.00Jul 240.010.02$0.0250.0%2.5K0.253.9K
$26.50Jul 240.030.05$0.0450.0%2.1K1.004.9K
$26.00Jul 240.080.15$0.1258.3%1.8K0.946.9K
$22.50Jul 241.824.95$3.3992.3%5670.81187
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$25.00Jul 310.110.15$0.1330.8%30.4K0.2075
$25.00Aug 210.290.70$0.5082.0%3.0K0.4464.7K
$26.00Aug 211.001.90$1.4562.1%1.6K0.616.0K
$27.00Jul 310.013.20$1.61198.1%9010.83518
$27.00Jul 240.203.10$1.65175.8%8191.003.0K

Term structure inversion — near-term IV higher than far-term IV at the same strike. Signals expected near-term catalyst or volatility event. 8 strikes (avg 160.9%, max 391.1%)

CALLS (2)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$28.00Jul 24Aug 2156.8%49.0%15.8%5.6K120.4K
$29.00Aug 14Aug 2838.3%35.2%8.9%55343
PUTS (5)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$21.00Jul 24Aug 21198.9%40.5%391.1%9623.6K
$24.00Jul 24Aug 21135.3%28.9%367.4%71817.6K
$23.00Jul 24Aug 21131.6%29.7%343.8%5614.7K
$28.00Aug 7Aug 2192.4%49.0%88.5%203.6K
$25.00Jul 31Aug 2130.1%19.6%53.2%33.3K64.8K

Bull call spreads & bear put spreads with the best risk/reward ratios. Pay a debit upfront, defined max loss. 16 found (best R:R 9.00, avg 3.15)

BULL CALL (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$27.50$30.00Aug 7$0.25$2.25$0.259.00$27.75
$29.00$30.00Aug 21$0.15$0.85$0.155.67$29.15
$28.00$29.00Aug 14$0.16$0.84$0.165.25$28.16
$27.50$28.00Jul 31$0.11$0.39$0.113.55$27.61
$26.50$27.00Jul 31$0.15$0.35$0.152.33$26.65
BEAR PUT (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$25.00$24.00Jul 31$0.10$0.90$0.109.00$24.90
$24.00$23.00Aug 21$0.21$0.79$0.213.76$23.79
$24.50$24.00Aug 21$0.14$0.36$0.142.57$24.36
$26.00$24.00Aug 7$0.65$1.35$0.652.08$25.35
$28.00$26.00Aug 7$0.96$1.04$0.961.08$27.04

Bear call spreads & bull put spreads collecting premium. Receive credit upfront, profit if stock stays in range. 17 found (best R:R 2.33, avg 0.74)

BEAR CALL (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$28.50$29.00Aug 21$0.29$0.29$0.211.38$28.79
$24.50$25.00Jul 24$0.26$0.26$0.241.08$24.76
$26.00$29.00Aug 28$1.52$1.52$1.481.03$27.52
$27.50$28.00Aug 21$0.24$0.24$0.260.92$27.74
$27.00$27.50Aug 21$0.17$0.17$0.330.52$27.17
BULL PUT (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$26.50$26.00Jul 24$0.35$0.35$0.152.33$26.15
$28.50$27.00Jul 31$0.98$0.98$0.521.88$27.52
$28.00$26.00Aug 7$0.96$0.96$1.040.92$27.04
$26.00$24.00Aug 7$0.65$0.65$1.350.48$25.35
$24.50$24.00Aug 21$0.14$0.14$0.360.39$24.36

Same strike, different expirations. Sell near-term, buy far-term. Profits from time decay differential. 12 found (avg debit $0.25, cheapest $0.06)

CALLS (5)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$30.00Aug 7Aug 21$0.0642.4%42.8%
$27.00Jul 24Jul 31$0.078.1%27.6%
$26.00Jul 24Jul 31$0.1152.0%17.3%
$27.50Jul 24Jul 31$0.1332.5%41.9%
$26.50Jul 24Jul 31$0.20-999.0%30.6%
PUTS (5)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$21.00Jul 24Aug 21$0.06198.9%40.5%
$25.50Jul 24Jul 31$0.1766.9%24.5%
$26.00Jul 24Jul 31$0.1752.0%17.3%
$28.00Aug 7Aug 21$0.2292.4%49.0%
$26.50Jul 24Jul 31$0.35-999.0%30.6%

Buy call + put at the same strike and expiry. Profits from large moves in either direction. 18 found (cheapest 0.89% of stock, avg 9.11%)

StrikeExpiryCall$Put$TotalBE LowBE HighCost%
$26.00Jul 24$0.12$0.11$0.23$25.77$26.230.89%
$26.50Jul 24$0.04$0.46$0.50$26.00$27.001.93%
$26.00Jul 31$0.23$0.28$0.51$25.49$26.511.97%
$26.50Jul 31$0.24$0.81$1.05$25.45$27.554.05%
$25.50Jul 24$1.46$0.03$1.49$24.01$26.995.74%
$27.00Jul 24$0.02$1.65$1.67$25.33$28.676.44%
$27.00Jul 31$0.09$1.61$1.70$25.30$28.706.55%
$24.00Jul 24$1.75$0.04$1.79$22.21$25.796.90%
$26.00Aug 21$0.65$1.45$2.10$23.90$28.108.09%
$27.00Aug 21$0.88$1.24$2.12$24.88$29.128.17%

Buy OTM call + OTM put at different strikes. Cheaper than straddles, needs bigger move to profit. 60 found (cheapest 0.19% of stock, avg 3.49%)

Call KPut KExpiryCall$Put$TotalBE LowBE High
$27.00$25.50Jul 24$0.02$0.03$0.05$25.45$27.05
$27.50$25.50Jul 24$0.02$0.03$0.05$25.45$27.55
$28.00$25.50Jul 24$0.03$0.03$0.06$25.44$28.06
$28.00$24.00Jul 31$0.04$0.03$0.07$23.93$28.07
$27.00$24.00Jul 31$0.09$0.03$0.12$23.88$27.12
$27.00$26.00Jul 24$0.02$0.11$0.13$25.87$27.13
$27.50$26.00Jul 24$0.02$0.11$0.13$25.87$27.63
$28.00$26.00Jul 24$0.03$0.11$0.14$25.86$28.14
$28.00$25.00Jul 31$0.04$0.13$0.17$24.83$28.17
$27.50$24.00Jul 31$0.15$0.03$0.18$23.82$27.68

Sell OTM put spread + OTM call spread. Collect premium, profit if stock stays between breakevens. 10 found (best R:R 3.17, avg credit $0.40)

Put SpreadCall SpreadExpiryCreditMax LossR:RBE LowBE High
24/2428/28Aug 21$0.38$0.123.17$24.12$27.88
24/2427/28Aug 21$0.31$0.191.63$24.19$27.31
23/2428/29Aug 21$0.50$0.501.00$23.50$29.00
23/2428/28Aug 21$0.45$0.550.82$23.55$27.95
23/2427/28Aug 21$0.38$0.620.61$23.62$27.38
24/2628/30Aug 7$0.90$1.600.56$25.10$28.40
23/2429/30Aug 21$0.36$0.640.56$23.64$29.36
24/2429/30Aug 21$0.29$0.710.41$24.21$29.29
24/2526/27Jul 31$0.25$0.750.33$24.75$26.75
24/2528/28Jul 31$0.21$0.790.27$24.79$27.71

Buy lower + upper strikes, sell 2x middle strike. Low cost, max profit at the middle strike at expiry. 8 found (best R:R 7.33, cheapest $0.06)

CALLS (4)
LowMidHighExpiryDebitMax GainR:R
$26.00$26.50$27.00Jul 24$0.06$0.447.33
$26.50$27.00$27.50Jul 31$0.21$0.291.38
$24.50$25.00$25.50Jul 24$0.22$0.281.27
$27.50$28.00$28.50Aug 21$0.32$0.180.56
PUTS (4)
LowMidHighExpiryDebitMax GainR:R
$24.00$26.00$28.00Aug 7$0.31$1.695.45
$25.50$26.00$26.50Jul 24$0.27$0.230.85
$26.00$26.50$27.00Jul 31$0.27$0.230.85
$25.50$26.00$26.50Jul 31$0.45$0.050.11

Buy 1 option, sell 2 at a different strike (1:2 ratio). Can be entered for a credit. Unlimited risk on naked leg. 27 found (best net $-0.10, 13 credits)

CALLS (5)
Buy KSell KRatioExpiryNetMax Gain
$28.00$29.001:2Aug 14-$0.07$0.93
$29.00$30.001:2Aug 28-$0.10$0.90
$27.00$27.501:2Jul 31-$0.21$0.29
$27.50$28.001:2Aug 21-$0.23$0.27
$27.00$27.501:2Aug 7-$0.24$0.26
PUTS (5)
Buy KSell KRatioExpiryNetMax Gain
$26.00$24.001:2Aug 7-$0.10$1.90
$28.00$26.001:2Aug 7-$0.44$1.56
$25.50$24.001:2Jul 24-$0.05$1.45
$28.50$27.001:2Jul 31-$0.63$0.87
$25.50$25.001:2Jul 31-$0.06$0.44

Sell OTM calls against 100 shares you own. Collect premium for income, capped upside at strike. Yield% = premium/stock price. 9 found (best yield 1.93%, avg 0.99%)

StrikeExpiryBidDeltaOTM%Yield%If Called%VolOI
$26.00Aug 7$0.500.520.2%1.93%2.12%718
$27.00Aug 21$0.450.364.0%1.73%5.78%3568.4K
$28.00Aug 21$0.400.247.9%1.54%9.44%5.6K116.5K
$27.50Aug 21$0.350.316.0%1.35%7.32%49155
$29.00Aug 21$0.240.1511.8%0.92%12.68%412136.1K
$27.00Aug 7$0.100.314.0%0.39%4.43%24236
$27.50Aug 7$0.100.256.0%0.39%6.36%10626
$30.00Aug 21$0.080.0815.6%0.31%15.92%12--
$30.00Aug 28$0.080.1015.6%0.31%15.92%1--

Current 5-Minute Volume Snapshots

Time (HH:MM) Total Volume Call Volume Put Volume Volume Change
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Prior's 5-Minute Volume Snapshots

Time (HH:MM) Total Volume Call Volume Put Volume Volume Change
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Current Put/Call Breakdown

Total Calls 25,279
Total Puts 76,409
Put/Call Ratio 3.02
Net Difference -51,130

Prior's Put/Call Breakdown

Total Calls 29,546
Total Puts 38,445
Put/Call Ratio 1.30
Net Difference -8,899

Prior 7-Day Put/Call Summary

Total Calls 407,716
Total Puts 690,321
Average Put/Call Ratio 1.65
Ratio Trend Rising

Daily Put/Call History (Last 7 Days)

Date Calls Puts Ratio Net Diff
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Upcoming Earnings - 2 Weeks Prior

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Upcoming Earnings - 1 Week Prior

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Earnings This Week

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Earnings - Day Before / Day After

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Options Activity Around Earnings

Ticker Earnings Date Days Away Call Volume Put Volume IV Rank
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Chart Title

Price — Past 7 Days

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