Tour v492
WBD
WARNER BROS DISCOVER Series A
$25.97 +0.70%
$25.98 (+0.06%)🌙
as of 08/05 06:16 PM
(8/5 14:09) ◀
|
Wednesday, August 5, 2026 (6:16pm)
January 2026
|
▶ (8/6 09:35)
◀ 8/5 18:16 ▶

Option Volume

Detail
ℹ
Current (08/05) 103,860
Calls: 29,520 (28%)
Puts: 74,340 (72%)
Prior (08/04) 104,301
Calls: 34,982 (34%)
Puts: 69,319 (66%)
Current vs Prior -0.42%
Calls: -15.61% (Calls)
Puts: +7.24% (Puts)
Prior 7-Day Total 720,347
Calls: 192,558 (27%)
Puts: 527,789 (73%)
Prior 7-Day Average 102,906
Calls: 27,508 (27%)
Puts: 75,398 (73%)
Current vs Prior 7-Day Avg +0.93%
Calls: +7.31%
Puts: -1.40%
Sentiment BEARISH

Dollar Volume

Detail
ℹ
Current (08/05) $7.85M
Calls: $1.66M (21%)
Puts: $6.19M (79%)
Prior (08/04) $6.81M
Calls: $2.27M (33%)
Puts: $4.54M (67%)
Current vs Prior +15.29%
Calls: -27.14%
Puts: +36.56%
Prior 7-Day Total $68.40M
Calls: $12.20M (18%)
Puts: $56.20M (82%)
Prior 7-Day Average $9.77M
Calls: $1.74M (18%)
Puts: $8.03M (82%)
Current vs Prior 7-Day Avg -19.67%
Calls: -4.96%
Puts: -22.86%
Sentiment BEARISH

Put/Call Ratio

Detail
ℹ
Current (08/05) 2.52
Prior (08/04) 1.98
Current vs Prior +27.09%
Prior 7-Day Average 3.03
Current vs Prior 7-Day Avg -16.85%
Sentiment BEARISH

Open Interest

Detail
ℹ
Current (08/05) 1,677,247
Calls: 458,465 (27%)
Puts: 1,218,782 (73%)
Prior (08/04) 2,091,757
Calls: 648,606 (31%)
Puts: 1,443,151 (69%)
Current vs Prior -19.82%
Prior 7-Day Total 12,172,504
Calls: 3,944,098 (32%)
Puts: 8,228,406 (68%)
Prior 7-Day Average 1,738,929
Calls: 563,442 (32%)
Puts: 1,175,486 (68%)
Current vs Prior 7-Day Avg -3.55%
Sentiment BULLISH

Expected Move

Detail
ℹ
Expiry (08/07) | Next (08/14)Expiry (08/21) | Next (09/18)
Current 4.31% | 19.87%11.47% | 5.62%
Prior 4.19% | 7.44%7.56% | 7.29%
Current vs Prior +2.98% | +166.89%+51.76% | -22.88%
Prior 7-Day Avg 3.90% | 6.93%9.07% | 8.38%
Current vs 7-Day Avg +10.46% | +186.65%+26.58% | -32.94%
Prior 7-Day Eod 4.19% | 7.44%7.56% | 7.29%
Current vs 7-Day Eod +2.98% | +166.89%+51.76% | -22.88%
Sentiment BEARISHBEARISH

Relative Spread

Detail
ℹ
Expiry | Next
Current 110.47% | 279.89%
Calls: 159.65% | 332.00%
Puts: 61.29% | 227.78%
Prior 34.07% | 95.34%
Calls: 24.39% | 42.00%
Puts: 43.75% | 148.68%
Current vs Prior +224.24% | +193.57%
Prior 7-Day Avg 34.07% | 95.34%
Calls: 24.39% | 42.00%
Puts: 43.75% | 148.68%
Current vs 7-Day Avg +224.24% | +193.57%
Liquidity Expensive
+
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🤖 AI Insights

Strong bearish conviction with 79% of dollar volume in puts ($6.19M) vs calls ($1.66M). Extreme bearish P/C ratio of 2.52 - heavy put buying. Put-heavy open interest (1,218,782 puts vs 458,465 calls) suggests hedging or bearish positioning. Declining open interest (down 20%) 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. 28 found (avg delta 0.80, highest 1.00)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$21.00Aug 73.207.50$5.3580.4%181.0011
$22.00Aug 72.326.25$4.2991.6%61.0012
$22.50Aug 71.785.95$3.87107.8%61.002
$23.00Aug 71.235.25$3.24124.1%21.00--
$24.50Aug 70.314.70$2.51174.9%11.00--
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$27.00Aug 70.021.70$0.86195.3%20.93--
$27.50Aug 70.014.50$2.26198.7%60.9330
$27.00Aug 140.244.70$2.47180.6%250.87231
$26.00Aug 140.014.95$2.48199.2%70.8369
$27.00Sep 180.281.50$0.89137.1%50.8315.3K

Most actively traded options today. High liquidity = easy entry/exit. 70 active (total vol 25.8K, top 17.2K)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$29.00Sep 180.070.12$0.1050.0%1.5K0.1133.5K
$26.00Aug 140.020.39$0.21176.2%1.1K0.3521
$26.50Aug 70.020.05$0.0475.0%7750.132.2K
$26.00Aug 70.140.18$0.1625.0%6420.43828
$26.00Aug 210.250.44$0.3554.3%5420.448.3K
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$26.00Sep 180.320.60$0.4660.9%17.2K0.4414.9K
$25.00Aug 70.020.05$0.0475.0%9880.102.0K
$25.50Aug 70.060.10$0.0850.0%5700.242.0K
$24.00Sep 180.010.08$0.05140.0%4010.063.6K
$25.00Sep 180.150.25$0.2050.0%1650.2126.7K

Term structure inversion — near-term IV higher than far-term IV at the same strike. Signals expected near-term catalyst or volatility event. 14 strikes (avg 129.6%, max 301.0%)

CALLS (5)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$28.00Aug 7Sep 1858.9%20.7%185.0%9030.7K
$27.00Aug 7Sep 1838.0%15.0%153.4%52218.4K
$29.00Aug 21Sep 1837.7%21.6%74.7%1.6K170.3K
$26.00Aug 7Sep 1827.6%16.2%70.3%7321.3K
$30.00Aug 14Aug 2172.1%43.1%67.1%12537
PUTS (5)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$24.00Aug 7Sep 1871.1%17.7%301.0%4023.6K
$21.00Aug 28Sep 18129.0%36.7%251.4%6--
$27.00Aug 7Sep 1838.0%15.0%153.4%715.3K
$22.00Aug 7Sep 1895.0%37.5%153.3%535.9K
$23.00Aug 7Aug 2178.7%32.8%140.4%815.7K

Bull call spreads & bear put spreads with the best risk/reward ratios. Pay a debit upfront, defined max loss. 17 found (best R:R 8.09, avg 2.89)

BULL CALL (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$24.00$25.00Aug 28$0.11$0.89$0.118.09$24.11
$28.00$29.00Sep 18$0.11$0.89$0.118.09$28.11
$26.00$27.00Aug 14$0.13$0.87$0.136.69$26.13
$26.00$27.00Aug 21$0.19$0.81$0.194.26$26.19
$26.00$26.50Aug 7$0.12$0.38$0.123.17$26.12
BEAR PUT (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$25.00$24.00Sep 18$0.15$0.85$0.155.67$24.85
$26.00$25.00Sep 18$0.26$0.74$0.262.85$25.74
$26.00$25.50Aug 7$0.19$0.31$0.191.63$25.81
$27.00$26.00Sep 18$0.43$0.57$0.431.33$26.57
$25.50$25.00Aug 21$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 5.25, avg 1.05)

BEAR CALL (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$23.00$24.00Aug 28$0.84$0.84$0.165.25$23.84
$23.00$23.50Aug 7$0.35$0.35$0.152.33$23.35
$26.00$27.00Sep 18$0.62$0.62$0.381.63$26.62
$23.50$24.50Aug 7$0.38$0.38$0.620.61$23.88
$26.00$26.50Aug 7$0.12$0.12$0.380.32$26.12
BULL PUT (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$28.50$27.50Aug 7$0.61$0.61$0.391.56$27.89
$27.00$26.00Aug 7$0.59$0.59$0.411.44$26.41
$27.00$26.00Aug 21$0.58$0.58$0.421.38$26.42
$26.00$25.00Sep 4$0.56$0.56$0.441.27$25.44
$26.00$25.50Aug 21$0.24$0.24$0.260.92$25.76

Same strike, different expirations. Sell near-term, buy far-term. Profits from time decay differential. 7 found (avg debit $1.17, cheapest $0.06)

CALLS (3)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$27.00Aug 7Aug 14$0.0638.0%49.5%
$23.00Aug 7Aug 28$0.1278.7%91.0%
$25.50Aug 7Aug 14$1.8330.1%212.0%
PUTS (4)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$22.00Aug 7Sep 18$0.1195.0%37.5%
$27.00Aug 7Aug 14$1.6138.0%49.5%
$26.00Aug 7Aug 14$2.2127.6%42.4%
$24.50Aug 7Aug 14$2.2249.9%121.1%

Buy call + put at the same strike and expiry. Profits from large moves in either direction. 19 found (cheapest 1.66% of stock, avg 8.31%)

StrikeExpiryCall$Put$TotalBE LowBE HighCost%
$26.00Aug 7$0.16$0.27$0.43$25.57$26.431.66%
$27.00Aug 7$0.02$0.86$0.88$26.12$27.883.39%
$26.00Aug 21$0.35$0.57$0.92$25.08$26.923.54%
$25.50Aug 7$0.85$0.08$0.93$24.57$26.433.58%
$27.00Sep 18$0.28$0.89$1.17$25.83$28.174.51%
$27.00Aug 21$0.16$1.15$1.31$25.69$28.315.04%
$26.00Sep 18$0.90$0.46$1.36$24.64$27.365.24%
$25.00Aug 21$1.78$0.11$1.89$23.11$26.897.28%
$27.50Aug 7$0.03$2.26$2.29$25.21$29.798.82%
$25.00Aug 28$2.41$0.12$2.53$22.47$27.539.74%

Buy OTM call + OTM put at different strikes. Cheaper than straddles, needs bigger move to profit. 45 found (cheapest 0.19% of stock, avg 1.99%)

Call KPut KExpiryCall$Put$TotalBE LowBE High
$27.00$24.50Aug 7$0.02$0.03$0.05$24.45$27.05
$27.50$24.50Aug 7$0.03$0.03$0.06$24.44$27.56
$27.00$25.00Aug 7$0.02$0.04$0.06$24.94$27.06
$27.00$24.00Aug 7$0.02$0.04$0.06$23.94$27.06
$26.50$24.50Aug 7$0.04$0.03$0.07$24.43$26.57
$27.50$25.00Aug 7$0.03$0.04$0.07$24.93$27.57
$27.50$24.00Aug 7$0.03$0.04$0.07$23.93$27.57
$26.50$25.00Aug 7$0.04$0.04$0.08$24.92$26.58
$26.50$24.00Aug 7$0.04$0.04$0.08$23.92$26.58
$27.00$25.50Aug 7$0.02$0.08$0.10$25.40$27.10

Sell OTM put spread + OTM call spread. Collect premium, profit if stock stays between breakevens. 5 found (best R:R 3.35, avg credit $0.47)

Put SpreadCall SpreadExpiryCreditMax LossR:RBE LowBE High
24/2526/27Sep 18$0.77$0.233.35$24.23$26.77
26/2728/29Sep 18$0.54$0.461.17$26.46$28.54
25/2626/27Aug 21$0.41$0.590.69$25.09$26.41
25/2628/29Sep 18$0.37$0.630.59$25.63$28.37
24/2528/29Sep 18$0.26$0.740.35$24.74$28.26

Buy lower + upper strikes, sell 2x middle strike. Low cost, max profit at the middle strike at expiry. 9 found (best R:R 11.50, cheapest $0.08)

CALLS (5)
LowMidHighExpiryDebitMax GainR:R
$26.00$27.00$28.00Aug 14$0.08$0.9211.50
$26.00$27.00$28.00Aug 21$0.12$0.887.33
$26.00$26.50$27.00Aug 7$0.10$0.404.00
$26.00$27.00$28.00Sep 18$0.55$0.450.82
$22.50$23.00$23.50Aug 7$0.28$0.220.79
PUTS (3)
LowMidHighExpiryDebitMax GainR:R
$24.00$25.00$26.00Sep 18$0.11$0.898.09
$25.00$26.00$27.00Sep 18$0.17$0.834.88
$25.00$25.50$26.00Aug 7$0.15$0.352.33

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 $-1.72, 6 credits)

CALLS (3)
Buy KSell KRatioExpiryNetMax Gain
$27.00$28.001:2Sep 18-$0.14$0.86
$26.00$27.001:2Sep 18$0.34$0.66
$26.00$26.501:2Aug 7$0.08$0.42
PUTS (5)
Buy KSell KRatioExpiryNetMax Gain
$25.00$21.001:2Aug 28-$1.72$2.28
$24.00$22.001:2Sep 18-$0.19$1.81
$24.50$24.001:2Aug 7-$0.05$0.45
$26.00$25.501:2Aug 21-$0.09$0.41
$25.50$25.001:2Aug 14-$0.10$0.40

Sell OTM calls against 100 shares you own. Collect premium for income, capped upside at strike. Yield% = premium/stock price. 8 found (best yield 0.96%, avg 0.57%)

StrikeExpiryBidDeltaOTM%Yield%If Called%VolOI
$26.00Aug 21$0.250.440.1%0.96%1.08%5428.3K
$26.00Sep 11$0.200.560.1%0.77%0.89%4--
$27.00Sep 18$0.200.334.0%0.77%4.74%49615.9K
$26.00Aug 7$0.140.430.1%0.54%0.65%642828
$28.00Sep 18$0.140.217.8%0.54%8.36%8030.7K
$27.00Aug 21$0.100.204.0%0.39%4.35%3014.7K
$28.00Aug 21$0.080.117.8%0.31%8.12%3--
$29.00Sep 18$0.070.1111.7%0.27%11.94%1.5K33.5K

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 29,520
Total Puts 74,340
Put/Call Ratio 2.52
Net Difference -44,820

Prior's Put/Call Breakdown

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

Prior 7-Day Put/Call Summary

Total Calls 192,558
Total Puts 527,789
Average Put/Call Ratio 3.03
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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