Tour v423
WBD
WARNER BROS DISCOVER Series A
$25.28 -1.90%
$25.33 (+0.20%)🌙
as of 07/27 07:16 PM
(7/24 04:10) ◀
|
Monday, July 27, 2026 (7:16pm)
January 2026
|
▶ (7/28 19:16)
◀ 7/27 19:16 ▶

Option Volume

Detail
ℹ
Current (07/27) 285,489
Calls: 80,757 (28%)
Puts: 204,732 (72%)
Prior (07/24) 121,791
Calls: 57,409 (47%)
Puts: 64,382 (53%)
Current vs Prior +134.41%
Calls: +40.67% (Calls)
Puts: +218.00% (Puts)
Prior 7-Day Total 1,124,862
Calls: 406,700 (36%)
Puts: 718,162 (64%)
Prior 7-Day Average 160,694
Calls: 58,100 (36%)
Puts: 102,594 (64%)
Current vs Prior 7-Day Avg +77.66%
Calls: +39.00%
Puts: +99.55%
Sentiment BEARISH

Dollar Volume

Detail
ℹ
Current (07/27) $22.25M
Calls: $3.38M (15%)
Puts: $18.86M (85%)
Prior (07/24) $7.97M
Calls: $1.70M (21%)
Puts: $6.26M (79%)
Current vs Prior +179.26%
Calls: +98.28%
Puts: +201.31%
Prior 7-Day Total $91.23M
Calls: $22.66M (25%)
Puts: $68.57M (75%)
Prior 7-Day Average $13.03M
Calls: $3.24M (25%)
Puts: $9.80M (75%)
Current vs Prior 7-Day Avg +70.69%
Calls: +4.44%
Puts: +92.59%
Sentiment BEARISH

Put/Call Ratio

Detail
ℹ
Current (07/27) 2.54
Prior (07/24) 1.12
Current vs Prior +126.06%
Prior 7-Day Average 1.89
Current vs Prior 7-Day Avg +34.22%
Sentiment BEARISH

Open Interest

Detail
ℹ
Current (07/27) 2,233,477
Calls: 689,105 (31%)
Puts: 1,544,372 (69%)
Prior (07/24) 1,939,173
Calls: 661,651 (34%)
Puts: 1,277,522 (66%)
Current vs Prior +15.18%
Prior 7-Day Total 12,774,085
Calls: 4,471,214 (35%)
Puts: 8,302,871 (65%)
Prior 7-Day Average 1,824,869
Calls: 638,744 (35%)
Puts: 1,186,124 (65%)
Current vs Prior 7-Day Avg +22.39%
Sentiment BULLISH

Expected Move

Detail
ℹ
Expiry (07/31) | Next (08/07)Expiry (08/21) | Next (09/18)
Current 4.63% | 7.40%7.52% | 8.54%
Prior 7.30% | 8.65%9.47% | 9.47%
Current vs Prior -36.56% | -14.52%-20.62% | -9.76%
Prior 7-Day Avg 4.94% | 7.59%9.19% | 12.74%
Current vs 7-Day Avg -6.33% | -2.50%-18.23% | -32.95%
Prior 7-Day Eod 7.30% | 8.65%9.47% | 9.47%
Current vs 7-Day Eod -36.56% | -14.52%-20.62% | -9.76%
Sentiment BULLISHBULLISH

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

Strong bearish conviction with 85% of dollar volume in puts ($18.86M) vs calls ($3.38M). Massive premium surge with dollar volume up 179% vs prior. Dollar volume significantly above 7-day average (71% higher). Unusually high activity with volume up 134% vs prior - elevated interest.

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 NEUTRAL
7-Day Avg NEUTRAL
Current BEARISH
Prior NEUTRAL
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 $0.38, cheapest $0.38)

CALLS (0)
No calls meet the criteria
PUTS (1)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$25.00Aug 210.340.41$0.3818.4%2.3K0.3968.4K

In-the-money options with delta >0.50. Higher probability of profit, lower leverage. 29 found (avg delta 0.82, highest 1.00)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$21.00Jul 312.626.40$4.5183.8%30.98--
$24.00Jul 310.003.40$1.70200.0%120.94--
$23.50Jul 310.053.90$1.98194.4%120.90--
$24.50Jul 310.012.44$1.22199.2%110.8732
$25.00Jul 310.251.50$0.88142.0%340.7564
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$27.00Jul 310.013.45$1.73198.8%421.001.6K
$28.00Jul 310.994.00$2.50120.4%21.00--
$29.00Jul 311.765.50$3.63103.0%11.00--
$26.00Aug 70.621.05$0.8451.2%151.0055
$26.50Aug 70.113.35$1.73187.3%321.00--

Most actively traded options today. High liquidity = easy entry/exit. 73 active (total vol 23.3K, top 4.2K)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.00Aug 210.070.13$0.1060.0%4.2K0.11113.0K
$26.00Jul 310.010.14$0.08162.5%1.8K0.18400
$27.00Aug 210.100.19$0.1560.0%1.3K0.1711.0K
$26.00Aug 210.150.41$0.2892.9%1.2K0.336.9K
$30.00Aug 210.010.04$0.03100.0%9140.0349.5K
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$25.00Jul 310.040.09$0.0771.4%2.7K0.2531.4K
$25.50Jul 310.230.35$0.2941.4%2.5K0.692.0K
$25.00Aug 210.340.41$0.3818.4%2.3K0.3968.4K
$23.00Aug 210.030.07$0.0580.0%1.4K0.0714.8K
$24.50Jul 310.000.09$0.05180.0%3940.131

Term structure inversion — near-term IV higher than far-term IV at the same strike. Signals expected near-term catalyst or volatility event. 11 strikes (avg 54.9%, max 95.9%)

CALLS (5)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$30.00Jul 31Aug 2868.2%34.8%95.9%276.9K
$29.00Jul 31Aug 2856.3%32.1%75.4%4894
$27.50Jul 31Aug 743.6%26.0%67.6%78329
$28.00Jul 31Aug 2143.6%29.9%46.1%4.8K118.4K
$26.00Jul 31Aug 2129.2%20.3%44.1%3.1K7.3K
PUTS (4)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$26.50Jul 31Aug 730.6%16.4%86.8%841.6K
$27.50Jul 31Aug 743.6%26.0%67.6%4--
$23.00Aug 7Aug 2138.0%25.4%49.9%1.4K14.8K
$25.00Jul 31Sep 416.5%11.8%40.3%2.9K31.4K

Bull call spreads & bear put spreads with the best risk/reward ratios. Pay a debit upfront, defined max loss. 14 found (best R:R 3.35, avg 1.74)

BULL CALL (4)
BuySellExpiryDebitMax GainMax LossR:RBE
$25.00$26.00Aug 21$0.23$0.77$0.233.35$25.23
$26.00$26.50Aug 7$0.13$0.37$0.132.85$26.13
$26.50$27.00Aug 21$0.18$0.32$0.181.78$26.68
$23.50$24.00Jul 31$0.28$0.22$0.280.79$23.78
BEAR PUT (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$25.00$24.50Aug 7$0.12$0.38$0.123.17$24.88
$27.00$26.50Aug 7$0.12$0.38$0.123.17$26.88
$28.00$27.50Jul 31$0.16$0.34$0.162.12$27.84
$27.00$25.00Aug 28$0.71$1.29$0.711.82$26.29
$25.50$25.00Jul 31$0.22$0.28$0.221.27$25.28

Bear call spreads & bull put spreads collecting premium. Receive credit upfront, profit if stock stays in range. 19 found (best R:R 2.85, avg 1.22)

BEAR CALL (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$24.50$25.00Jul 31$0.34$0.34$0.162.12$24.84
$23.50$24.00Jul 31$0.28$0.28$0.221.27$23.78
$26.50$27.00Aug 21$0.18$0.18$0.320.56$26.68
$26.00$26.50Aug 7$0.13$0.13$0.370.35$26.13
$25.00$26.00Aug 21$0.23$0.23$0.770.30$25.23
BULL PUT (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$24.00$23.00Aug 7$0.74$0.74$0.262.85$23.26
$27.00$26.50Jul 31$0.35$0.35$0.152.33$26.65
$26.00$25.50Aug 7$0.35$0.35$0.152.33$25.65
$27.00$26.00Aug 21$0.70$0.70$0.302.33$26.30
$22.00$21.00Aug 21$0.61$0.61$0.391.56$21.39

Same strike, different expirations. Sell near-term, buy far-term. Profits from time decay differential. 16 found (avg debit $0.32, cheapest $0.05)

CALLS (5)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$26.50Jul 31Aug 7$0.0530.6%16.4%
$29.00Jul 31Aug 21$0.0656.3%34.2%
$27.00Jul 31Aug 7$0.0929.9%25.3%
$26.00Jul 31Aug 7$0.1329.2%15.9%
$28.00Jul 31Aug 7$0.2443.6%52.0%
PUTS (5)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$27.50Jul 31Aug 7$0.0643.6%26.0%
$24.50Jul 31Aug 7$0.0727.0%30.2%
$27.00Jul 31Aug 7$0.1229.9%25.3%
$25.00Jul 31Aug 7$0.1716.5%29.9%
$25.50Jul 31Aug 7$0.2016.4%32.9%

Buy call + put at the same strike and expiry. Profits from large moves in either direction. 22 found (cheapest 1.50% of stock, avg 7.83%)

StrikeExpiryCall$Put$TotalBE LowBE HighCost%
$25.50Jul 31$0.09$0.29$0.38$25.12$25.881.50%
$26.00Jul 31$0.08$0.55$0.63$25.37$26.632.49%
$25.00Aug 21$0.51$0.38$0.89$24.11$25.893.52%
$25.00Jul 31$0.88$0.07$0.95$24.05$25.953.76%
$26.00Aug 7$0.21$0.84$1.05$24.95$27.054.15%
$24.50Jul 31$1.22$0.05$1.27$23.23$25.775.02%
$25.50Aug 7$0.86$0.49$1.35$24.15$26.855.34%
$26.00Aug 21$0.28$1.12$1.40$24.60$27.405.54%
$26.50Jul 31$0.03$1.38$1.41$25.09$27.915.58%
$24.00Jul 31$1.70$0.03$1.73$22.27$25.736.84%

Buy OTM call + OTM put at different strikes. Cheaper than straddles, needs bigger move to profit. 63 found (cheapest 0.24% of stock, avg 2.71%)

Call KPut KExpiryCall$Put$TotalBE LowBE High
$26.50$24.00Jul 31$0.03$0.03$0.06$23.94$26.56
$26.50$24.50Jul 31$0.03$0.05$0.08$24.42$26.58
$26.50$25.00Jul 31$0.03$0.07$0.10$24.90$26.60
$26.50$23.50Jul 31$0.03$0.07$0.10$23.40$26.60
$26.00$24.00Jul 31$0.08$0.03$0.11$23.89$26.11
$25.50$24.00Jul 31$0.09$0.03$0.12$23.88$25.62
$26.00$24.50Jul 31$0.08$0.05$0.13$24.37$26.13
$25.50$24.50Jul 31$0.09$0.05$0.14$24.36$25.64
$26.00$25.00Jul 31$0.08$0.07$0.15$24.85$26.15
$26.00$23.50Jul 31$0.08$0.07$0.15$23.35$26.15

Sell OTM put spread + OTM call spread. Collect premium, profit if stock stays between breakevens. 6 found (best R:R 6.69, avg credit $0.61)

Put SpreadCall SpreadExpiryCreditMax LossR:RBE LowBE High
23/2426/26Aug 7$0.87$0.136.69$23.13$26.87
21/2225/26Aug 21$0.84$0.165.25$21.16$25.84
21/2226/27Aug 21$0.79$0.213.76$21.21$27.29
25/2626/26Aug 7$0.38$0.123.17$25.12$26.38
24/2425/26Aug 21$0.52$0.481.08$23.98$25.52
24/2526/26Aug 7$0.25$0.251.00$24.75$26.25

Buy lower + upper strikes, sell 2x middle strike. Low cost, max profit at the middle strike at expiry. 12 found (best R:R 7.33, cheapest $0.06)

CALLS (3)
LowMidHighExpiryDebitMax GainR:R
$24.00$24.50$25.00Jul 31$0.14$0.362.57
$26.00$26.50$27.00Aug 7$0.15$0.352.33
$27.00$27.50$28.00Aug 7$0.25$0.251.00
PUTS (5)
LowMidHighExpiryDebitMax GainR:R
$23.50$24.00$24.50Jul 31$0.06$0.447.33
$25.00$25.50$26.00Aug 7$0.10$0.404.00
$24.50$25.00$25.50Aug 7$0.13$0.372.85
$24.50$25.00$25.50Jul 31$0.20$0.301.50
$26.50$27.00$27.50Jul 31$0.26$0.240.92

Buy 1 option, sell 2 at a different strike (1:2 ratio). Can be entered for a credit. Unlimited risk on naked leg. 23 found (best net $-0.49, 15 credits)

CALLS (5)
Buy KSell KRatioExpiryNetMax Gain
$25.00$26.001:2Aug 21-$0.05$0.95
$27.00$28.001:2Aug 21-$0.05$0.95
$25.50$26.001:2Jul 31-$0.07$0.43
$26.50$27.001:2Aug 7-$0.12$0.38
$26.00$26.501:2Aug 21-$0.38$0.12
PUTS (5)
Buy KSell KRatioExpiryNetMax Gain
$28.00$26.001:2Sep 4-$0.49$1.51
$27.00$25.001:2Aug 28-$0.55$1.45
$28.00$27.001:2Aug 21-$0.33$0.67
$27.00$26.001:2Aug 21-$0.42$0.58
$24.00$23.501:2Jul 31-$0.11$0.39

Sell OTM calls against 100 shares you own. Collect premium for income, capped upside at strike. Yield% = premium/stock price. 4 found (best yield 0.59%, avg 0.38%)

StrikeExpiryBidDeltaOTM%Yield%If Called%VolOI
$26.00Aug 21$0.150.332.9%0.59%3.44%1.2K6.9K
$27.00Aug 21$0.100.176.8%0.40%7.20%1.3K11.0K
$28.00Aug 21$0.070.1110.8%0.28%11.04%4.2K113.0K
$26.00Aug 7$0.060.422.9%0.24%3.09%47718

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 80,757
Total Puts 204,732
Put/Call Ratio 2.54
Net Difference -123,975

Prior's Put/Call Breakdown

Total Calls 57,409
Total Puts 64,382
Put/Call Ratio 1.12
Net Difference -6,973

Prior 7-Day Put/Call Summary

Total Calls 406,700
Total Puts 718,162
Average Put/Call Ratio 1.89
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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