Tour v487
WBD
WARNER BROS DISCOVER Series A
$26.09 -0.80%
$26.15 (+0.23%)🌙
as of 08/03 07:03 PM
(7/31 19:19) ◀
|
Monday, August 3, 2026 (7:03pm)
January 2026
|
▶ (8/4 19:22)
◀ 8/3 19:03 ▶

Option Volume

Detail
ℹ
Current (08/03) 119,142
Calls: 19,187 (16%)
Puts: 99,955 (84%)
Prior (07/31) 120,730
Calls: 36,369 (30%)
Puts: 84,361 (70%)
Current vs Prior -1.32%
Calls: -47.24% (Calls)
Puts: +18.48% (Puts)
Prior 7-Day Total 720,383
Calls: 221,077 (31%)
Puts: 499,306 (69%)
Prior 7-Day Average 102,911
Calls: 31,582 (31%)
Puts: 71,329 (69%)
Current vs Prior 7-Day Avg +15.77%
Calls: -39.25%
Puts: +40.13%
Sentiment BEARISH

Dollar Volume

Detail
ℹ
Current (08/03) $17.70M
Calls: $1.81M (10%)
Puts: $15.89M (90%)
Prior (07/31) $9.05M
Calls: $2.52M (28%)
Puts: $6.53M (72%)
Current vs Prior +95.54%
Calls: -28.18%
Puts: +143.30%
Prior 7-Day Total $60.62M
Calls: $13.20M (22%)
Puts: $47.42M (78%)
Prior 7-Day Average $8.66M
Calls: $1.89M (22%)
Puts: $6.77M (78%)
Current vs Prior 7-Day Avg +104.38%
Calls: -3.96%
Puts: +134.53%
Sentiment BEARISH

Put/Call Ratio

Detail
ℹ
Current (08/03) 5.21
Prior (07/31) 2.32
Current vs Prior +124.59%
Prior 7-Day Average 2.62
Current vs Prior 7-Day Avg +98.58%
Sentiment BEARISH

Open Interest

Detail
ℹ
Current (08/03) 1,384,286
Calls: 582,240 (42%)
Puts: 802,046 (58%)
Prior (07/31) 1,773,040
Calls: 621,848 (35%)
Puts: 1,151,192 (65%)
Current vs Prior -21.93%
Prior 7-Day Total 12,100,762
Calls: 3,911,416 (32%)
Puts: 8,189,346 (68%)
Prior 7-Day Average 1,728,680
Calls: 558,773 (32%)
Puts: 1,169,906 (68%)
Current vs Prior 7-Day Avg -19.92%
Sentiment BULLISH

Expected Move

Detail
ℹ
Expiry (08/07) | Next (08/14)Expiry (08/21) | Next (09/18)
Current 4.41% | 6.98%8.32% | 8.97%
Prior 4.75% | 7.19%8.44% | 11.75%
Current vs Prior -7.26% | -2.93%-1.47% | -23.66%
Prior 7-Day Avg 4.58% | 7.02%9.77% | 9.27%
Current vs 7-Day Avg -3.82% | -0.65%-14.85% | -3.29%
Prior 7-Day Eod 4.75% | 7.19%8.44% | 11.75%
Current vs 7-Day Eod -7.26% | -2.93%-1.47% | -23.66%
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 90% of dollar volume in puts ($15.89M) vs calls ($1.81M). Elevated premium activity with dollar volume up 96% vs prior. Dollar volume significantly above 7-day average (104% higher). Extreme bearish P/C ratio of 5.21 - 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. 19 found (avg delta 0.79, highest 1.00)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$21.00Aug 73.307.20$5.2574.3%171.00--
$22.00Aug 72.406.20$4.3088.4%131.00--
$22.50Aug 72.085.70$3.8993.1%11.00--
$23.00Aug 71.655.25$3.45104.3%21.001
$25.00Aug 210.012.90$1.45199.3%61.0077
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.00Aug 211.612.47$2.0442.2%200.863.1K
$27.00Aug 140.133.10$1.62183.3%10.79--
$26.50Aug 140.002.73$1.37199.3%10.72--
$27.00Aug 210.051.29$0.67185.1%110.69--
$26.50Aug 70.341.31$0.83116.9%910.6732

Most actively traded options today. High liquidity = easy entry/exit. 48 active (total vol 7.5K, top 1.2K)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$27.00Aug 70.010.16$0.09166.7%1.2K0.17789
$27.50Aug 70.010.05$0.03133.3%5090.07201
$25.00Aug 70.012.80$1.40199.3%3700.93--
$25.50Aug 70.041.78$0.91191.2%3680.77219
$30.00Aug 210.020.05$0.0475.0%2940.0449.7K
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$26.00Aug 70.240.38$0.3145.2%1.2K0.49522
$25.00Aug 70.040.09$0.0771.4%1.1K0.14599
$25.50Aug 70.060.22$0.14114.3%5470.271.7K
$26.00Aug 210.152.08$1.12172.3%5250.597.0K
$26.50Aug 70.341.31$0.83116.9%910.6732

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 84.8%, max 165.6%)

CALLS (3)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$25.00Aug 7Aug 2134.8%13.1%165.6%37677
$29.00Aug 7Aug 2854.3%25.5%112.5%525
$28.00Aug 7Aug 2139.5%36.0%9.8%397117.7K
PUTS (5)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$24.00Aug 7Aug 2146.9%21.0%123.7%7618.4K
$23.00Aug 7Aug 2156.8%26.3%115.8%3215.7K
$22.00Aug 7Aug 2167.9%35.7%90.1%111.8K
$25.00Aug 7Aug 2834.8%25.8%35.0%1.1K1.0K
$26.50Aug 7Aug 1440.7%32.4%25.6%9232

Bull call spreads & bear put spreads with the best risk/reward ratios. Pay a debit upfront, defined max loss. 6 found (best R:R 8.09, avg 3.67)

BULL CALL (4)
BuySellExpiryDebitMax GainMax LossR:RBE
$26.00$27.00Aug 21$0.11$0.89$0.118.09$26.11
$27.00$28.00Aug 14$0.12$0.88$0.127.33$27.12
$26.50$27.00Aug 7$0.15$0.35$0.152.33$26.65
$26.00$29.00Aug 28$1.30$1.70$1.301.31$27.30
BEAR PUT (2)
BuySellExpiryDebitMax GainMax LossR:RBE
$26.00$25.50Aug 7$0.17$0.33$0.171.94$25.83
$27.00$26.50Aug 14$0.25$0.25$0.251.00$26.75

Bear call spreads & bull put spreads collecting premium. Receive credit upfront, profit if stock stays in range. 6 found (best R:R 1.00, avg 0.50)

BEAR CALL (4)
SellBuyExpiryCreditMax GainMax LossR:RBE
$26.00$29.00Aug 28$1.30$1.30$1.700.76$27.30
$26.50$27.00Aug 7$0.15$0.15$0.350.43$26.65
$27.00$28.00Aug 14$0.12$0.12$0.880.14$27.12
$26.00$27.00Aug 21$0.11$0.11$0.890.12$26.11
BULL PUT (2)
SellBuyExpiryCreditMax GainMax LossR:RBE
$27.00$26.50Aug 14$0.25$0.25$0.251.00$26.75
$26.00$25.50Aug 7$0.17$0.17$0.330.52$25.83

Same strike, different expirations. Sell near-term, buy far-term. Profits from time decay differential. 9 found (avg debit $0.30, cheapest $0.05)

CALLS (5)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$25.00Aug 7Aug 21$0.0534.8%13.1%
$29.00Aug 7Aug 21$0.0654.3%40.1%
$27.00Aug 7Aug 14$0.0936.8%35.9%
$26.00Aug 7Aug 21$0.2528.6%33.9%
$27.50Aug 7Aug 21$0.5136.4%56.2%
PUTS (3)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$25.00Aug 7Aug 21$0.0634.8%13.1%
$26.00Aug 7Aug 14$0.2628.6%33.9%
$26.50Aug 7Aug 14$0.5440.7%32.4%

Buy call + put at the same strike and expiry. Profits from large moves in either direction. 12 found (cheapest 2.41% of stock, avg 8.18%)

StrikeExpiryCall$Put$TotalBE LowBE HighCost%
$26.00Aug 7$0.32$0.31$0.63$25.37$26.632.41%
$25.50Aug 7$0.91$0.14$1.05$24.45$26.554.02%
$26.50Aug 7$0.24$0.83$1.07$25.43$27.574.10%
$27.00Aug 21$0.46$0.67$1.13$25.87$28.134.33%
$25.00Aug 7$1.40$0.07$1.47$23.53$26.475.63%
$25.00Aug 21$1.45$0.13$1.58$23.42$26.586.06%
$26.00Aug 21$0.57$1.12$1.69$24.31$27.696.48%
$27.00Aug 14$0.18$1.62$1.80$25.20$28.806.90%
$28.00Aug 21$0.12$2.04$2.16$25.84$30.168.28%
$23.00Aug 7$3.45$0.01$3.46$19.54$26.4613.26%

Buy OTM call + OTM put at different strikes. Cheaper than straddles, needs bigger move to profit. 20 found (cheapest 0.38% of stock, avg 1.42%)

Call KPut KExpiryCall$Put$TotalBE LowBE High
$27.50$25.00Aug 7$0.03$0.07$0.10$24.90$27.60
$29.00$24.00Aug 21$0.08$0.06$0.14$23.86$29.14
$27.00$25.00Aug 7$0.09$0.07$0.16$24.84$27.16
$27.50$25.50Aug 7$0.03$0.14$0.17$25.33$27.67
$28.00$24.00Aug 21$0.12$0.06$0.18$23.82$28.18
$29.00$25.00Aug 21$0.08$0.13$0.21$24.79$29.21
$27.00$25.50Aug 7$0.09$0.14$0.23$25.27$27.23
$28.00$25.00Aug 21$0.12$0.13$0.25$24.75$28.25
$29.00$25.00Aug 28$0.10$0.16$0.26$24.74$29.26
$26.50$25.00Aug 7$0.24$0.07$0.31$24.69$26.81

Sell OTM put spread + OTM call spread. Collect premium, profit if stock stays between breakevens. 1 found (best R:R 1.78, avg credit $0.32)

Put SpreadCall SpreadExpiryCreditMax LossR:RBE LowBE High
26/2626/27Aug 7$0.32$0.181.78$25.68$26.82

Buy lower + upper strikes, sell 2x middle strike. Low cost, max profit at the middle strike at expiry. 5 found (best R:R 9.00, cheapest $0.05)

CALLS (2)
LowMidHighExpiryDebitMax GainR:R
$27.00$27.50$28.00Aug 7$0.05$0.459.00
$26.50$27.00$27.50Aug 7$0.09$0.414.56
PUTS (3)
LowMidHighExpiryDebitMax GainR:R
$25.00$25.50$26.00Aug 7$0.10$0.404.00
$25.50$26.00$26.50Aug 7$0.35$0.150.43
$24.00$25.00$26.00Aug 21$0.92$0.080.09

Buy 1 option, sell 2 at a different strike (1:2 ratio). Can be entered for a credit. Unlimited risk on naked leg. 17 found (best net $--, 7 credits)

CALLS (5)
Buy KSell KRatioExpiryNetMax Gain
$29.00$30.001:2Aug 21$0.00$1.00
$26.00$27.001:2Aug 21-$0.35$0.65
$28.00$30.501:2Aug 14-$2.08$0.42
$26.00$26.501:2Aug 7-$0.16$0.34
$23.50$24.501:2Aug 7-$0.87$0.13
PUTS (5)
Buy KSell KRatioExpiryNetMax Gain
$24.00$23.001:2Aug 21$0.00$1.00
$28.00$27.001:2Aug 21$0.70$0.30
$26.50$26.001:2Aug 7$0.21$0.29
$26.50$26.001:2Aug 14$0.23$0.27
$26.00$25.001:2Aug 21$0.86$0.14

Sell OTM calls against 100 shares you own. Collect premium for income, capped upside at strike. Yield% = premium/stock price. 5 found (best yield 0.88%, avg 0.50%)

StrikeExpiryBidDeltaOTM%Yield%If Called%VolOI
$27.00Aug 21$0.230.303.5%0.88%4.37%1914.7K
$26.50Aug 7$0.140.331.6%0.54%2.11%2541.6K
$27.00Aug 14$0.100.213.5%0.38%3.87%54169
$28.00Aug 21$0.100.127.3%0.38%7.70%210117.3K
$27.50Aug 21$0.080.295.4%0.31%5.71%8223

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 19,187
Total Puts 99,955
Put/Call Ratio 5.21
Net Difference -80,768

Prior's Put/Call Breakdown

Total Calls 36,369
Total Puts 84,361
Put/Call Ratio 2.32
Net Difference -47,992

Prior 7-Day Put/Call Summary

Total Calls 221,077
Total Puts 499,306
Average Put/Call Ratio 2.62
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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