Tour v452
WBD
WARNER BROS DISCOVER Series A
$25.61 +1.31%
$25.61 (+0.01%)🌙
as of 07/28 07:16 PM
(7/27 19:16) ◀
|
Tuesday, July 28, 2026 (7:16pm)
January 2026
|
▶ (7/29 19:30)
◀ 7/28 19:16 ▶

Option Volume

Detail
ℹ
Current (07/28) 25,161
Calls: 7,833 (31%)
Puts: 17,328 (69%)
Prior (07/27) 285,489
Calls: 80,757 (28%)
Puts: 204,732 (72%)
Current vs Prior -91.19%
Calls: -90.30% (Calls)
Puts: -91.54% (Puts)
Prior 7-Day Total 1,311,707
Calls: 453,804 (35%)
Puts: 857,903 (65%)
Prior 7-Day Average 187,386
Calls: 64,829 (35%)
Puts: 122,557 (65%)
Current vs Prior 7-Day Avg -86.57%
Calls: -87.92%
Puts: -85.86%
Sentiment BEARISH

Dollar Volume

Detail
ℹ
Current (07/28) $2.38M
Calls: $708.4K (30%)
Puts: $1.67M (70%)
Prior (07/27) $22.25M
Calls: $3.38M (15%)
Puts: $18.86M (85%)
Current vs Prior -89.31%
Calls: -79.04%
Puts: -91.15%
Prior 7-Day Total $103.69M
Calls: $23.68M (23%)
Puts: $80.02M (77%)
Prior 7-Day Average $14.81M
Calls: $3.38M (23%)
Puts: $11.43M (77%)
Current vs Prior 7-Day Avg -83.95%
Calls: -79.06%
Puts: -85.39%
Sentiment BEARISH

Put/Call Ratio

Detail
ℹ
Current (07/28) 2.21
Prior (07/27) 2.54
Current vs Prior -12.74%
Prior 7-Day Average 1.98
Current vs Prior 7-Day Avg +12.01%
Sentiment BEARISH

Open Interest

Detail
ℹ
Current (07/28) 2,041,640
Calls: 630,542 (31%)
Puts: 1,411,098 (69%)
Prior (07/27) 2,233,477
Calls: 689,105 (31%)
Puts: 1,544,372 (69%)
Current vs Prior -8.59%
Prior 7-Day Total 13,162,007
Calls: 4,501,926 (34%)
Puts: 8,660,081 (66%)
Prior 7-Day Average 1,880,286
Calls: 643,132 (34%)
Puts: 1,237,154 (66%)
Current vs Prior 7-Day Avg +8.58%
Sentiment BULLISH

Expected Move

Detail
ℹ
Expiry (07/31) | Next (08/07)Expiry (08/21) | Next (09/18)
Current 2.77% | 7.38%11.36% | 5.78%
Prior 4.63% | 7.40%7.52% | 8.54%
Current vs Prior -40.10% | -0.23%+51.18% | -32.36%
Prior 7-Day Avg 4.60% | 7.62%9.27% | 12.47%
Current vs 7-Day Avg -39.76% | -3.19%+22.63% | -53.66%
Prior 7-Day Eod 4.63% | 7.40%7.52% | 8.54%
Current vs 7-Day Eod -40.10% | -0.23%+51.18% | -32.36%
Sentiment BULLISHBEARISH

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 70% put dollar volume ($1.67M). Light premium activity with dollar volume down 89% vs prior. Below-average activity with volume down 91% vs prior. Extreme bearish P/C ratio of 2.21 - heavy put buying.

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. -- found (avg $--, cheapest $--)

No options available for this category

In-the-money options with delta >0.50. Higher probability of profit, lower leverage. 24 found (avg delta 0.83, highest 1.00)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$21.00Jul 313.006.65$4.8375.6%121.004
$22.00Jul 311.895.65$3.7799.7%111.00--
$22.50Jul 311.435.15$3.29113.1%91.0011
$23.00Jul 311.114.65$2.88122.9%151.00--
$23.50Jul 310.774.15$2.46137.4%21.0011
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$27.50Jul 310.704.00$2.35140.4%10.98--
$27.00Jul 310.233.20$1.72172.7%100.981.6K
$26.50Jul 310.122.30$1.21180.2%310.931.6K
$27.00Aug 211.491.72$1.6114.3%1500.905.9K
$26.00Jul 310.320.75$0.5479.6%1430.81370

Most actively traded options today. High liquidity = easy entry/exit. 59 active (total vol 5.7K, top 1.3K)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$26.00Aug 210.240.44$0.3458.8%1.3K0.457.4K
$27.00Aug 210.120.20$0.1650.0%1.1K0.2111.5K
$28.00Aug 210.070.13$0.1060.0%2520.12118.6K
$26.00Jul 310.030.08$0.0683.3%2160.192.1K
$28.00Aug 70.000.05$0.03166.7%1670.05229
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$25.00Aug 210.200.45$0.3375.8%5930.3067.5K
$25.00Jul 310.000.08$0.04200.0%2620.1532.7K
$25.00Aug 140.030.45$0.24175.0%2010.39--
$25.50Jul 310.050.25$0.15133.3%1750.482.8K
$27.00Aug 211.491.72$1.6114.3%1500.905.9K

Term structure inversion — near-term IV higher than far-term IV at the same strike. Signals expected near-term catalyst or volatility event. 7 strikes (avg 42.5%, max 110.3%)

CALLS (4)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$22.00Jul 31Aug 2171.0%33.8%110.3%3660
$26.00Jul 31Aug 2123.5%15.7%49.5%1.6K9.5K
$28.00Aug 7Aug 2131.1%26.1%19.2%419118.8K
$26.50Jul 31Aug 728.6%24.3%18.0%117224
PUTS (3)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$23.00Jul 31Sep 451.9%32.1%61.6%81
$24.00Jul 31Sep 441.9%32.5%28.9%414
$27.00Jul 31Sep 430.6%27.8%9.8%111.6K

Bull call spreads & bear put spreads with the best risk/reward ratios. Pay a debit upfront, defined max loss. 12 found (best R:R 9.71, avg 2.87)

BULL CALL (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$27.00$30.00Aug 28$0.28$2.72$0.289.71$27.28
$26.00$27.00Aug 21$0.18$0.82$0.184.56$26.18
$25.50$26.00Jul 31$0.11$0.39$0.113.55$25.61
$24.00$24.50Jul 31$0.28$0.22$0.280.79$24.28
$25.00$26.00Aug 21$0.60$0.40$0.600.67$25.60
BEAR PUT (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$25.50$25.00Jul 31$0.11$0.39$0.113.55$25.39
$25.00$24.00Aug 21$0.22$0.78$0.223.55$24.78
$27.00$24.00Sep 4$0.66$2.34$0.663.55$26.34
$27.00$26.00Aug 28$0.38$0.62$0.381.63$26.62
$25.50$25.00Aug 7$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. 16 found (best R:R 10.54, avg 1.78)

BEAR CALL (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$22.00$25.00Aug 21$2.74$2.74$0.2610.54$24.74
$25.50$26.00Aug 7$0.39$0.39$0.113.55$25.89
$25.00$26.00Aug 21$0.60$0.60$0.401.50$25.60
$24.00$24.50Jul 31$0.28$0.28$0.221.27$24.28
$25.50$26.00Jul 31$0.11$0.11$0.390.28$25.61
BULL PUT (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$26.00$25.50Jul 31$0.39$0.39$0.113.55$25.61
$29.00$26.00Aug 7$2.21$2.21$0.792.80$26.79
$26.00$25.00Aug 28$0.58$0.58$0.421.38$25.42
$25.50$25.00Aug 14$0.26$0.26$0.241.08$25.24
$25.50$25.00Aug 7$0.22$0.22$0.280.79$25.28

Same strike, different expirations. Sell near-term, buy far-term. Profits from time decay differential. 10 found (avg debit $0.21, cheapest $0.06)

CALLS (5)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$28.00Aug 7Aug 21$0.0731.1%26.1%
$26.00Jul 31Aug 7$0.0923.5%16.9%
$26.50Jul 31Aug 7$0.1128.6%24.3%
$30.00Aug 21Aug 28$0.1132.8%41.8%
$25.00Jul 31Aug 21$0.1822.2%25.4%
PUTS (4)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$24.00Jul 31Aug 7$0.0641.9%34.2%
$25.00Jul 31Aug 7$0.0922.2%21.9%
$25.50Jul 31Aug 7$0.2017.2%25.1%
$26.00Jul 31Aug 7$0.8123.5%16.9%

Buy call + put at the same strike and expiry. Profits from large moves in either direction. 15 found (cheapest 1.25% of stock, avg 6.55%)

StrikeExpiryCall$Put$TotalBE LowBE HighCost%
$25.50Jul 31$0.17$0.15$0.32$25.18$25.821.25%
$26.00Jul 31$0.06$0.54$0.60$25.40$26.602.34%
$25.00Jul 31$0.76$0.04$0.80$24.20$25.803.12%
$25.50Aug 7$0.54$0.35$0.89$24.61$26.393.48%
$26.50Jul 31$0.02$1.21$1.23$25.27$27.734.80%
$25.00Aug 21$0.94$0.33$1.27$23.73$26.274.96%
$26.00Aug 7$0.15$1.35$1.50$24.50$27.505.86%
$27.00Jul 31$0.01$1.72$1.73$25.27$28.736.76%
$27.00Aug 21$0.16$1.61$1.77$25.23$28.776.91%
$24.00Jul 31$1.86$0.02$1.88$22.12$25.887.34%

Buy OTM call + OTM put at different strikes. Cheaper than straddles, needs bigger move to profit. 30 found (cheapest 0.23% of stock, avg 1.77%)

Call KPut KExpiryCall$Put$TotalBE LowBE High
$26.50$25.00Jul 31$0.02$0.04$0.06$24.94$26.56
$26.00$25.00Jul 31$0.06$0.04$0.10$24.90$26.10
$27.00$24.50Aug 7$0.05$0.06$0.11$24.39$27.11
$27.00$24.00Aug 7$0.05$0.08$0.13$23.87$27.13
$26.50$25.50Jul 31$0.02$0.15$0.17$25.33$26.67
$29.00$24.00Aug 21$0.06$0.11$0.17$23.83$29.17
$27.00$25.00Aug 7$0.05$0.13$0.18$24.82$27.18
$26.50$24.50Aug 7$0.13$0.06$0.19$24.31$26.69
$26.00$25.50Jul 31$0.06$0.15$0.21$25.29$26.21
$26.00$24.50Aug 7$0.15$0.06$0.21$24.29$26.21

Sell OTM put spread + OTM call spread. Collect premium, profit if stock stays between breakevens. 3 found (best R:R 4.26, avg credit $0.69)

Put SpreadCall SpreadExpiryCreditMax LossR:RBE LowBE High
25/2626/27Aug 21$0.81$0.194.26$24.69$26.81
24/2526/27Aug 21$0.40$0.600.67$24.60$26.40
25/2627/30Aug 28$0.86$2.140.40$25.14$27.86

Buy lower + upper strikes, sell 2x middle strike. Low cost, max profit at the middle strike at expiry. 14 found (best R:R 7.33, cheapest $0.07)

CALLS (5)
LowMidHighExpiryDebitMax GainR:R
$26.00$27.00$28.00Aug 21$0.12$0.887.33
$22.00$22.50$23.00Jul 31$0.07$0.436.14
$25.50$26.00$26.50Jul 31$0.07$0.436.14
$25.00$26.00$27.00Aug 21$0.42$0.581.38
$24.50$25.00$25.50Jul 31$0.23$0.271.17
PUTS (5)
LowMidHighExpiryDebitMax GainR:R
$23.00$24.00$25.00Aug 21$0.14$0.866.14
$24.00$24.50$25.00Aug 7$0.09$0.414.56
$26.50$27.00$27.50Jul 31$0.12$0.383.17
$24.50$25.00$25.50Aug 7$0.15$0.352.33
$25.00$25.50$26.00Jul 31$0.28$0.220.79

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 $-0.51, 8 credits)

CALLS (5)
Buy KSell KRatioExpiryNetMax Gain
$26.00$26.501:2Aug 7-$0.11$0.39
$27.00$30.001:2Aug 28$0.13$2.87
$22.00$25.001:2Aug 21$1.80$1.20
$25.00$26.001:2Aug 21$0.26$0.74
$25.50$26.001:2Jul 31$0.05$0.45
PUTS (5)
Buy KSell KRatioExpiryNetMax Gain
$27.00$24.001:2Sep 4-$0.51$2.49
$24.00$23.001:2Jul 31$0.00$1.00
$25.00$24.001:2Jul 31$0.00$1.00
$26.00$25.001:2Aug 28-$0.29$0.71
$25.00$24.001:2Aug 14-$0.44$0.56

Sell OTM calls against 100 shares you own. Collect premium for income, capped upside at strike. Yield% = premium/stock price. 3 found (best yield 0.94%, avg 0.56%)

StrikeExpiryBidDeltaOTM%Yield%If Called%VolOI
$26.00Aug 21$0.240.451.5%0.94%2.46%1.3K7.4K
$27.00Aug 21$0.120.215.4%0.47%5.90%1.1K11.5K
$28.00Aug 21$0.070.129.3%0.27%9.61%252118.6K

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 7,833
Total Puts 17,328
Put/Call Ratio 2.21
Net Difference -9,495

Prior's Put/Call Breakdown

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

Prior 7-Day Put/Call Summary

Total Calls 453,804
Total Puts 857,903
Average Put/Call Ratio 1.98
Ratio Trend Falling

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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