Tour v490
WBD
WARNER BROS DISCOVER Series A
$25.79 -1.15%
$25.84 (+0.19%)🌙
as of 08/04 07:22 PM
(8/3 19:03) ◀
|
Tuesday, August 4, 2026 (7:22pm)
January 2026
|
▶
◀ 8/4 19:22

Option Volume

Detail
ℹ
Current (08/04) 104,301
Calls: 34,982 (34%)
Puts: 69,319 (66%)
Prior (08/03) 119,142
Calls: 19,187 (16%)
Puts: 99,955 (84%)
Current vs Prior -12.46%
Calls: +82.32% (Calls)
Puts: -30.65% (Puts)
Prior 7-Day Total 737,837
Calls: 214,985 (29%)
Puts: 522,852 (71%)
Prior 7-Day Average 105,405
Calls: 30,712 (29%)
Puts: 74,693 (71%)
Current vs Prior 7-Day Avg -1.05%
Calls: +13.90%
Puts: -7.19%
Sentiment BEARISH

Dollar Volume

Detail
ℹ
Current (08/04) $6.81M
Calls: $2.27M (33%)
Puts: $4.54M (67%)
Prior (08/03) $17.70M
Calls: $1.81M (10%)
Puts: $15.89M (90%)
Current vs Prior -61.53%
Calls: +25.54%
Puts: -71.46%
Prior 7-Day Total $69.56M
Calls: $11.63M (17%)
Puts: $57.93M (83%)
Prior 7-Day Average $9.94M
Calls: $1.66M (17%)
Puts: $8.28M (83%)
Current vs Prior 7-Day Avg -31.48%
Calls: +36.81%
Puts: -45.19%
Sentiment BEARISH

Put/Call Ratio

Detail
ℹ
Current (08/04) 1.98
Prior (08/03) 5.21
Current vs Prior -61.96%
Prior 7-Day Average 2.91
Current vs Prior 7-Day Avg -31.81%
Sentiment BEARISH

Open Interest

Detail
ℹ
Current (08/04) 2,091,757
Calls: 648,606 (31%)
Puts: 1,443,151 (69%)
Prior (08/03) 1,384,286
Calls: 582,240 (42%)
Puts: 802,046 (58%)
Current vs Prior +51.11%
Prior 7-Day Total 12,019,920
Calls: 3,957,143 (33%)
Puts: 8,062,777 (67%)
Prior 7-Day Average 1,717,131
Calls: 565,306 (33%)
Puts: 1,151,825 (67%)
Current vs Prior 7-Day Avg +21.82%
Sentiment BULLISH

Expected Move

Detail
ℹ
Expiry (08/07) | Next (08/14)Expiry (08/21) | Next (09/18)
Current 4.19% | 7.44%7.56% | 7.29%
Prior 4.41% | 6.98%8.32% | 8.97%
Current vs Prior -4.99% | +6.72%-9.09% | -18.72%
Prior 7-Day Avg 4.35% | 7.10%9.34% | 8.70%
Current vs 7-Day Avg -3.69% | +4.80%-19.03% | -16.16%
Prior 7-Day Eod 4.41% | 6.98%8.32% | 8.97%
Current vs 7-Day Eod -4.99% | +6.72%-9.09% | -18.72%
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

Moderately bearish flow with 67% put dollar volume ($4.54M). Light premium activity with dollar volume down 62% vs prior. Extreme bearish P/C ratio of 1.98 - heavy put buying. P/C ratio dropping 62% - sentiment shifting bullish.

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. 20 found (avg delta 0.82, highest 1.00)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$21.00Aug 72.856.90$4.8883.0%11.00--
$22.00Aug 72.105.90$4.0095.0%11.00--
$22.50Aug 71.515.40$3.46112.4%11.00--
$23.00Aug 71.004.90$2.95132.2%31.00--
$24.50Aug 70.483.45$1.97150.8%40.95--
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$27.00Aug 140.013.40$1.70199.4%1791.00--
$30.00Aug 72.446.30$4.3788.3%10.99--
$29.00Aug 71.445.30$3.37114.5%10.97--
$27.00Aug 70.013.30$1.65199.4%2250.92401
$28.00Aug 210.744.35$2.55141.6%10.77--

Most actively traded options today. High liquidity = easy entry/exit. 65 active (total vol 14.9K, top 2.4K)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$29.00Sep 180.060.18$0.12100.0%1.6K0.1033.8K
$27.00Aug 70.010.05$0.03133.3%7460.081.9K
$26.50Aug 70.010.13$0.07171.4%5210.171.7K
$30.00Aug 210.030.07$0.0580.0%2460.0550.0K
$27.00Sep 180.250.40$0.3345.5%1840.2715.8K
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$25.00Aug 210.110.16$0.1435.7%2.4K0.2162.0K
$26.00Aug 70.220.80$0.51113.7%2.3K0.601.6K
$21.00Sep 180.040.13$0.09100.0%1.5K0.06218.5K
$25.00Aug 70.030.10$0.07100.0%1.1K0.161.2K
$25.00Sep 180.200.25$0.2321.7%5750.2926.9K

Term structure inversion — near-term IV higher than far-term IV at the same strike. Signals expected near-term catalyst or volatility event. 12 strikes (avg 96.7%, max 167.8%)

CALLS (5)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$26.00Aug 7Sep 1840.2%15.5%159.4%1191.2K
$30.00Aug 14Sep 1854.8%31.3%75.1%2242.3K
$27.00Aug 7Sep 1837.4%23.1%62.2%93017.7K
$26.50Aug 7Aug 1433.8%22.0%53.6%5311.7K
$27.50Aug 7Aug 2147.9%31.8%50.8%39684
PUTS (5)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$24.00Aug 7Sep 1854.2%20.2%167.8%3054.2K
$26.00Aug 7Sep 1840.2%15.5%159.4%2.4K16.5K
$25.00Aug 7Sep 1833.2%13.1%154.0%1.7K28.1K
$21.00Aug 7Sep 1894.0%37.2%152.9%1.5K219.5K
$27.00Aug 7Aug 1437.4%21.0%78.5%404401

Bull call spreads & bear put spreads with the best risk/reward ratios. Pay a debit upfront, defined max loss. 12 found (best R:R 8.52, avg 2.71)

BULL CALL (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$27.00$29.00Sep 18$0.21$1.79$0.218.52$27.21
$26.00$27.00Aug 21$0.30$0.70$0.302.33$26.30
$28.00$29.00Aug 21$0.31$0.69$0.312.23$28.31
$27.00$30.00Aug 28$0.93$2.07$0.932.23$27.93
$26.50$27.00Aug 14$0.16$0.34$0.162.12$26.66
BEAR PUT (4)
BuySellExpiryDebitMax GainMax LossR:RBE
$25.00$22.00Aug 14$0.52$2.48$0.524.77$24.48
$22.00$21.00Aug 21$0.18$0.82$0.184.56$21.82
$26.00$25.00Sep 18$0.45$0.55$0.451.22$25.55
$28.00$26.50Aug 21$0.92$0.58$0.920.63$27.08

Bear call spreads & bull put spreads collecting premium. Receive credit upfront, profit if stock stays in range. 16 found (best R:R 7.33, avg 1.76)

BEAR CALL (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$21.00$22.00Aug 7$0.88$0.88$0.127.33$21.88
$24.50$26.00Aug 21$1.24$1.24$0.264.77$25.74
$25.50$26.00Aug 7$0.31$0.31$0.191.63$25.81
$25.00$25.50Aug 7$0.19$0.19$0.310.61$25.19
$26.00$26.50Aug 7$0.19$0.19$0.310.61$26.19
BULL PUT (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$29.00$27.00Aug 7$1.72$1.72$0.286.14$27.28
$26.00$25.50Aug 7$0.35$0.35$0.152.33$25.65
$28.00$26.50Aug 21$0.92$0.92$0.581.59$27.08
$26.00$25.00Sep 18$0.45$0.45$0.550.82$25.55
$22.00$21.00Aug 21$0.18$0.18$0.820.22$21.82

Same strike, different expirations. Sell near-term, buy far-term. Profits from time decay differential. 9 found (avg debit $0.32, cheapest $0.05)

CALLS (5)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$27.00Aug 7Aug 14$0.0737.4%21.0%
$26.50Aug 7Aug 14$0.1933.8%22.0%
$26.00Aug 7Aug 21$0.2640.2%25.4%
$27.50Aug 7Aug 14$0.5847.9%64.6%
$25.50Aug 7Aug 14$0.7528.6%51.3%
PUTS (4)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$27.00Aug 7Aug 14$0.0537.4%21.0%
$26.00Aug 7Aug 14$0.0940.2%38.6%
$25.50Aug 7Aug 14$0.4128.6%51.3%
$25.00Aug 7Aug 14$0.4733.2%61.1%

Buy call + put at the same strike and expiry. Profits from large moves in either direction. 13 found (cheapest 2.83% of stock, avg 7.69%)

StrikeExpiryCall$Put$TotalBE LowBE HighCost%
$25.50Aug 7$0.57$0.16$0.73$24.77$26.232.83%
$26.00Aug 7$0.26$0.51$0.77$25.23$26.772.99%
$25.00Aug 7$0.76$0.07$0.83$24.17$25.833.22%
$26.00Sep 18$0.39$0.68$1.07$24.93$27.074.15%
$26.00Aug 21$0.52$0.57$1.09$24.91$27.094.23%
$27.00Aug 7$0.03$1.65$1.68$25.32$28.686.51%
$27.00Aug 14$0.10$1.70$1.80$25.20$28.806.98%
$25.50Aug 14$1.32$0.57$1.89$23.61$27.397.33%
$24.50Aug 7$1.97$0.03$2.00$22.50$26.507.75%
$24.00Aug 7$2.05$0.04$2.09$21.91$26.098.10%

Buy OTM call + OTM put at different strikes. Cheaper than straddles, needs bigger move to profit. 66 found (cheapest 0.23% of stock, avg 2.22%)

Call KPut KExpiryCall$Put$TotalBE LowBE High
$27.00$24.50Aug 7$0.03$0.03$0.06$24.44$27.06
$27.50$24.50Aug 7$0.03$0.03$0.06$24.44$27.56
$27.00$24.00Aug 7$0.03$0.04$0.07$23.93$27.07
$27.50$24.00Aug 7$0.03$0.04$0.07$23.93$27.57
$26.50$24.50Aug 7$0.07$0.03$0.10$24.40$26.60
$27.00$25.00Aug 7$0.03$0.07$0.10$24.90$27.10
$27.50$25.00Aug 7$0.03$0.07$0.10$24.90$27.60
$26.50$24.00Aug 7$0.07$0.04$0.11$23.89$26.61
$26.50$25.00Aug 7$0.07$0.07$0.14$24.86$26.64
$29.00$24.00Aug 21$0.07$0.07$0.14$23.86$29.14

Sell OTM put spread + OTM call spread. Collect premium, profit if stock stays between breakevens. 6 found (best R:R 1.11, avg credit $0.83)

Put SpreadCall SpreadExpiryCreditMax LossR:RBE LowBE High
22/2526/26Aug 14$1.58$1.421.11$23.42$27.08
21/2228/29Aug 21$0.49$0.510.96$21.51$28.49
21/2226/27Aug 21$0.48$0.520.92$21.52$26.48
22/2528/28Aug 14$1.07$1.930.55$23.93$28.57
25/2627/29Sep 18$0.66$1.340.49$25.34$27.66
22/2526/27Aug 14$0.68$2.320.29$24.32$27.18

Buy lower + upper strikes, sell 2x middle strike. Low cost, max profit at the middle strike at expiry. 10 found (best R:R 9.00, cheapest $0.05)

CALLS (5)
LowMidHighExpiryDebitMax GainR:R
$22.50$23.00$23.50Aug 7$0.10$0.404.00
$25.50$26.00$26.50Aug 7$0.12$0.383.17
$28.00$29.00$30.00Aug 21$0.29$0.712.45
$26.00$26.50$27.00Aug 7$0.15$0.352.33
$27.00$27.50$28.00Aug 21$0.22$0.281.27
PUTS (4)
LowMidHighExpiryDebitMax GainR:R
$24.00$24.50$25.00Aug 7$0.05$0.459.00
$22.00$23.00$24.00Aug 21$0.19$0.814.26
$24.00$25.00$26.00Sep 18$0.40$0.601.50
$25.00$25.50$26.00Aug 7$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. 30 found (best net $--, 11 credits)

CALLS (5)
Buy KSell KRatioExpiryNetMax Gain
$28.00$30.001:2Aug 14-$0.10$1.90
$29.00$30.001:2Sep 18-$0.08$0.92
$26.00$27.001:2Sep 18-$0.27$0.73
$27.00$27.501:2Aug 21-$0.16$0.34
$25.00$25.501:2Aug 7-$0.38$0.12
PUTS (5)
Buy KSell KRatioExpiryNetMax Gain
$24.00$21.001:2Sep 18$0.00$3.00
$25.00$24.001:2Aug 21$0.00$1.00
$25.00$24.001:2Sep 18-$0.13$0.87
$28.00$26.501:2Aug 21-$0.71$0.79
$23.00$22.001:2Aug 21-$0.36$0.64

Sell OTM calls against 100 shares you own. Collect premium for income, capped upside at strike. Yield% = premium/stock price. 6 found (best yield 0.97%, avg 0.47%)

StrikeExpiryBidDeltaOTM%Yield%If Called%VolOI
$27.00Sep 18$0.250.274.7%0.97%5.66%18415.8K
$27.00Aug 21$0.150.254.7%0.58%5.27%4314.7K
$26.00Aug 7$0.110.400.8%0.43%1.24%109731
$27.50Aug 21$0.080.206.6%0.31%6.94%2--
$28.00Aug 21$0.070.258.6%0.27%8.84%94117.4K
$29.00Sep 18$0.060.1012.4%0.23%12.68%1.6K33.8K

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 34,982
Total Puts 69,319
Put/Call Ratio 1.98
Net Difference -34,337

Prior's Put/Call Breakdown

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

Prior 7-Day Put/Call Summary

Total Calls 214,985
Total Puts 522,852
Average Put/Call Ratio 2.91
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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