Tour v462
WBD
WARNER BROS DISCOVER Series A
$25.64 +0.12%
(7/28 19:16) ◀
|
Wednesday, July 29, 2026 (7:30pm)
January 2026
|
▶
◀ 7/29 19:30

Option Volume

Detail
ℹ
Current (07/29) 16,946
Calls: 5,038 (30%)
Puts: 11,908 (70%)
Prior (07/28) 25,161
Calls: 7,833 (31%)
Puts: 17,328 (69%)
Current vs Prior -32.65%
Calls: -35.68% (Calls)
Puts: -31.28% (Puts)
Prior 7-Day Total 1,246,784
Calls: 426,710 (34%)
Puts: 820,074 (66%)
Prior 7-Day Average 178,112
Calls: 60,958 (34%)
Puts: 117,153 (66%)
Current vs Prior 7-Day Avg -90.49%
Calls: -91.74%
Puts: -89.84%
Sentiment BEARISH

Dollar Volume

Detail
ℹ
Current (07/29) $1.24M
Calls: $569.4K (46%)
Puts: $669.7K (54%)
Prior (07/28) $2.38M
Calls: $708.4K (30%)
Puts: $1.67M (70%)
Current vs Prior -47.90%
Calls: -19.62%
Puts: -59.89%
Prior 7-Day Total $101.34M
Calls: $22.91M (23%)
Puts: $78.43M (77%)
Prior 7-Day Average $14.48M
Calls: $3.27M (23%)
Puts: $11.20M (77%)
Current vs Prior 7-Day Avg -91.44%
Calls: -82.60%
Puts: -94.02%
Sentiment BEARISH

Put/Call Ratio

Detail
ℹ
Current (07/29) 2.36
Prior (07/28) 2.21
Current vs Prior +6.85%
Prior 7-Day Average 2.07
Current vs Prior 7-Day Avg +14.43%
Sentiment BEARISH

Open Interest

Detail
ℹ
Current (07/29) 1,676,252
Calls: 478,307 (29%)
Puts: 1,197,945 (71%)
Prior (07/28) 2,041,640
Calls: 630,542 (31%)
Puts: 1,411,098 (69%)
Current vs Prior -17.90%
Prior 7-Day Total 13,467,363
Calls: 4,429,245 (33%)
Puts: 9,038,118 (67%)
Prior 7-Day Average 1,923,909
Calls: 632,749 (33%)
Puts: 1,291,159 (67%)
Current vs Prior 7-Day Avg -12.87%
Sentiment BULLISH

Expected Move

Detail
ℹ
Expiry (07/31) | Next (08/07)Expiry (08/21) | Next (09/18)
Current 2.38% | 5.30%11.70% | 8.39%
Prior 2.77% | 7.38%11.36% | 5.78%
Current vs Prior -14.19% | -28.13%+2.97% | +45.10%
Prior 7-Day Avg 4.46% | 7.14%10.14% | 11.94%
Current vs 7-Day Avg -46.67% | -25.72%+15.40% | -29.75%
Prior 7-Day Eod 2.77% | 7.38%11.36% | 5.78%
Current vs 7-Day Eod -14.19% | -28.13%+2.97% | +45.10%
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

Extreme bearish P/C ratio of 2.36 - heavy put buying. Put-heavy open interest (1,197,945 puts vs 478,307 calls) suggests hedging or bearish positioning. Declining open interest (down 18%) indicates positions being closed.

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. 16 found (avg delta 0.91, highest 1.00)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$21.00Jul 313.056.75$4.9075.5%281.009
$22.00Jul 311.945.70$3.8298.4%1031.003
$22.50Jul 311.544.60$3.0799.7%1011.00--
$23.00Jul 311.234.75$2.99117.7%1401.007
$23.50Jul 310.584.25$2.42151.7%1411.0012
PUTS (4)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$27.50Jul 310.613.95$2.28146.5%20.97--
$26.50Jul 310.202.85$1.53173.2%20.88--
$26.00Jul 310.300.59$0.4465.9%650.84369
$27.00Aug 211.002.15$1.5872.8%4020.785.9K

Most actively traded options today. High liquidity = easy entry/exit. 53 active (total vol 4.3K, top 1.6K)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$25.50Jul 310.060.27$0.17123.5%1.6K0.6869
$26.00Aug 70.010.53$0.27192.6%1720.37448
$26.00Aug 210.280.48$0.3852.6%1620.408.0K
$23.50Jul 310.584.25$2.42151.7%1411.0012
$23.00Jul 311.234.75$2.99117.7%1401.007
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$27.00Aug 211.002.15$1.5872.8%4020.785.9K
$25.00Aug 210.200.32$0.2646.2%3240.3162.6K
$23.00Aug 210.010.06$0.03166.7%2550.0515.8K
$21.00Aug 210.000.04$0.02200.0%2000.02--
$25.00Aug 70.080.20$0.1485.7%770.25158

Term structure inversion — near-term IV higher than far-term IV at the same strike. Signals expected near-term catalyst or volatility event. 10 strikes (avg 81.4%, max 307.2%)

CALLS (5)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$21.00Jul 31Aug 7150.4%57.6%160.9%309
$30.00Jul 31Aug 2191.5%35.4%158.7%486.9K
$27.50Jul 31Aug 751.7%31.2%65.6%15145
$22.50Jul 31Aug 777.2%47.6%62.2%105--
$27.00Jul 31Aug 2136.1%26.8%34.7%61589
PUTS (3)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$24.00Aug 7Aug 2191.7%22.5%307.2%2318.3K
$23.00Jul 31Sep 465.5%63.1%3.8%187
$25.00Jul 31Aug 2827.3%27.0%1.1%4532.8K

Bull call spreads & bear put spreads with the best risk/reward ratios. Pay a debit upfront, defined max loss. 9 found (best R:R 8.09, avg 2.91)

BULL CALL (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$27.00$28.00Aug 21$0.11$0.89$0.118.09$27.11
$25.50$26.00Jul 31$0.13$0.37$0.132.85$25.63
$26.00$26.50Aug 7$0.17$0.33$0.171.94$26.17
$24.50$25.00Jul 31$0.30$0.20$0.300.67$24.80
$25.50$26.00Aug 7$0.33$0.17$0.330.52$25.83
BEAR PUT (3)
BuySellExpiryDebitMax GainMax LossR:RBE
$27.00$25.50Aug 21$0.25$1.25$0.255.00$26.75
$25.00$24.00Aug 21$0.17$0.83$0.174.88$24.83
$25.00$24.00Aug 14$0.37$0.63$0.371.70$24.63

Bear call spreads & bull put spreads collecting premium. Receive credit upfront, profit if stock stays in range. 14 found (best R:R 3.17, avg 1.49)

BEAR CALL (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$24.00$24.50Jul 31$0.38$0.38$0.123.17$24.38
$28.50$30.00Jul 31$1.06$1.06$0.442.41$29.56
$21.00$22.50Aug 7$1.00$1.00$0.502.00$22.00
$25.50$26.00Aug 7$0.33$0.33$0.171.94$25.83
$24.50$25.00Jul 31$0.30$0.30$0.201.50$24.80
BULL PUT (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$27.50$26.50Jul 31$0.75$0.75$0.253.00$26.75
$26.00$25.50Jul 31$0.36$0.36$0.142.57$25.64
$25.50$25.00Aug 7$0.35$0.35$0.152.33$25.15
$25.00$24.00Aug 14$0.37$0.37$0.630.59$24.63
$25.00$24.00Aug 21$0.17$0.17$0.830.20$24.83

Same strike, different expirations. Sell near-term, buy far-term. Profits from time decay differential. 9 found (avg debit $0.37, cheapest $0.05)

CALLS (5)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$26.50Jul 31Aug 7$0.0541.0%24.7%
$28.00Aug 7Aug 21$0.0733.7%28.6%
$27.00Jul 31Aug 21$0.2036.1%26.8%
$26.00Jul 31Aug 7$0.2322.3%27.6%
$25.50Jul 31Aug 7$0.4315.2%33.3%
PUTS (2)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$25.00Jul 31Aug 7$0.1127.3%23.0%
$25.50Jul 31Aug 7$0.4115.2%33.3%

Buy call + put at the same strike and expiry. Profits from large moves in either direction. 10 found (cheapest 0.98% of stock, avg 6.47%)

StrikeExpiryCall$Put$TotalBE LowBE HighCost%
$25.50Jul 31$0.17$0.08$0.25$25.25$25.750.98%
$26.00Jul 31$0.04$0.44$0.48$25.52$26.481.87%
$25.50Aug 7$0.60$0.49$1.09$24.41$26.594.25%
$25.00Jul 31$1.33$0.03$1.36$23.64$26.365.30%
$26.50Jul 31$0.05$1.53$1.58$24.92$28.086.16%
$24.50Jul 31$1.63$0.03$1.66$22.84$26.166.47%
$27.00Aug 21$0.21$1.58$1.79$25.21$28.796.98%
$27.50Jul 31$0.01$2.28$2.29$25.21$29.798.93%
$23.00Jul 31$2.99$0.01$3.00$20.00$26.0011.70%
$22.50Jul 31$3.07$0.01$3.08$19.42$25.5812.01%

Buy OTM call + OTM put at different strikes. Cheaper than straddles, needs bigger move to profit. 38 found (cheapest 0.27% of stock, avg 3.07%)

Call KPut KExpiryCall$Put$TotalBE LowBE High
$26.00$25.00Jul 31$0.04$0.03$0.07$24.93$26.07
$26.00$24.50Jul 31$0.04$0.03$0.07$24.43$26.07
$26.50$25.00Jul 31$0.05$0.03$0.08$24.92$26.58
$26.50$24.50Jul 31$0.05$0.03$0.08$24.42$26.58
$26.00$25.50Jul 31$0.04$0.08$0.12$25.38$26.12
$26.50$25.50Jul 31$0.05$0.08$0.13$25.37$26.63
$29.00$24.00Aug 21$0.06$0.09$0.15$23.85$29.15
$27.50$25.00Aug 7$0.04$0.14$0.18$24.82$27.68
$28.00$24.00Aug 21$0.10$0.09$0.19$23.81$28.19
$26.50$25.00Aug 7$0.10$0.14$0.24$24.76$26.74

Sell OTM put spread + OTM call spread. Collect premium, profit if stock stays between breakevens. 1 found (best R:R 0.39, avg credit $0.28)

Put SpreadCall SpreadExpiryCreditMax LossR:RBE LowBE High
24/2527/28Aug 21$0.28$0.720.39$24.72$27.28

Buy lower + upper strikes, sell 2x middle strike. Low cost, max profit at the middle strike at expiry. 8 found (best R:R 13.29, cheapest $0.05)

CALLS (5)
LowMidHighExpiryDebitMax GainR:R
$27.00$28.00$29.00Aug 21$0.07$0.9313.29
$24.00$24.50$25.00Jul 31$0.08$0.425.25
$25.50$26.00$26.50Jul 31$0.14$0.362.57
$25.50$26.00$26.50Aug 7$0.16$0.342.13
$23.00$23.50$24.00Jul 31$0.16$0.342.12
PUTS (3)
LowMidHighExpiryDebitMax GainR:R
$24.50$25.00$25.50Jul 31$0.05$0.459.00
$23.00$24.00$25.00Aug 21$0.11$0.898.09
$25.00$25.50$26.00Jul 31$0.31$0.190.61

Buy 1 option, sell 2 at a different strike (1:2 ratio). Can be entered for a credit. Unlimited risk on naked leg. 15 found (best net $-0.01, 6 credits)

CALLS (5)
Buy KSell KRatioExpiryNetMax Gain
$26.00$26.501:2Jul 31-$0.06$0.44
$28.00$30.501:2Aug 7-$2.11$0.39
$28.50$30.001:2Jul 31$1.05$0.45
$25.50$26.001:2Aug 7$0.06$0.44
$26.00$26.501:2Aug 7$0.07$0.43
PUTS (5)
Buy KSell KRatioExpiryNetMax Gain
$23.00$21.001:2Aug 21-$0.01$1.99
$25.00$22.001:2Aug 28-$1.69$1.31
$27.00$25.501:2Aug 21-$1.08$0.42
$27.50$26.501:2Jul 31-$0.78$0.22
$24.50$23.001:2Jul 31$0.01$1.49

Sell OTM calls against 100 shares you own. Collect premium for income, capped upside at strike. Yield% = premium/stock price. 3 found (best yield 1.09%, avg 0.57%)

StrikeExpiryBidDeltaOTM%Yield%If Called%VolOI
$26.00Aug 21$0.280.401.4%1.09%2.50%1628.0K
$27.00Aug 21$0.100.225.3%0.39%5.69%10--
$28.00Aug 21$0.060.119.2%0.23%9.44%115118.5K

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 5,038
Total Puts 11,908
Put/Call Ratio 2.36
Net Difference -6,870

Prior's Put/Call Breakdown

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

Prior 7-Day Put/Call Summary

Total Calls 426,710
Total Puts 820,074
Average Put/Call Ratio 2.07
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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