Tour v526
WBD
WARNER BROS DISCOVER Series A
$28.32 -0.74%
$28.40 (+0.28%)🌙
as of 09/01 07:15 PM
(8/31 19:13) ◀
|
Tuesday, September 1, 2026 (7:15pm)
January 2026
|
▶ (9/2 19:09)
◀ 9/1 19:15 ▶

Option Volume

Detail
ℹ
Current (09/01) 88,361
Calls: 21,910 (25%)
Puts: 66,451 (75%)
Prior (08/31) 63,782
Calls: 20,634 (32%)
Puts: 43,148 (68%)
Current vs Prior +38.54%
Calls: +6.18% (Calls)
Puts: +54.01% (Puts)
Prior 7-Day Total 548,599
Calls: 177,149 (32%)
Puts: 371,450 (68%)
Prior 7-Day Average 78,371
Calls: 25,307 (32%)
Puts: 53,064 (68%)
Current vs Prior 7-Day Avg +12.75%
Calls: -13.42%
Puts: +25.23%
Sentiment BEARISH

Dollar Volume

Detail
ℹ
Current (09/01) $4.40M
Calls: $1.40M (32%)
Puts: $3.00M (68%)
Prior (08/31) $3.88M
Calls: $2.13M (55%)
Puts: $1.74M (45%)
Current vs Prior +13.45%
Calls: -34.62%
Puts: +72.35%
Prior 7-Day Total $40.35M
Calls: $25.74M (64%)
Puts: $14.61M (36%)
Prior 7-Day Average $5.76M
Calls: $3.68M (64%)
Puts: $2.09M (36%)
Current vs Prior 7-Day Avg -23.72%
Calls: -62.05%
Puts: +43.80%
Sentiment BEARISH

Put/Call Ratio

Detail
ℹ
Current (09/01) 3.03
Prior (08/31) 2.09
Current vs Prior +45.04%
Prior 7-Day Average 2.60
Current vs Prior 7-Day Avg +16.83%
Sentiment BEARISH

Open Interest

Detail
ℹ
Current (09/01) 1,851,307
Calls: 450,841 (24%)
Puts: 1,400,466 (76%)
Prior (08/31) 1,224,359
Calls: 429,244 (35%)
Puts: 795,115 (65%)
Current vs Prior +51.21%
Prior 7-Day Total 10,092,353
Calls: 3,721,655 (37%)
Puts: 6,370,698 (63%)
Prior 7-Day Average 1,441,764
Calls: 531,665 (37%)
Puts: 910,099 (63%)
Current vs Prior 7-Day Avg +28.41%
Sentiment BULLISH

Expected Move

Detail
ℹ
Expiry (09/04) | Next (09/11)Expiry (09/18) | Next (10/16)
Current 5.23% | 8.02%6.36% | 9.00%
Prior 5.36% | 6.48%9.81% | 9.25%
Current vs Prior -2.55% | +23.61%-35.24% | -2.69%
Prior 7-Day Avg 3.51% | 5.79%6.44% | 8.33%
Current vs 7-Day Avg +48.96% | +38.45%-1.24% | +8.06%
Prior 7-Day Eod 5.36% | 6.48%9.81% | 9.25%
Current vs 7-Day Eod -2.55% | +23.61%-35.24% | -2.69%
Sentiment BULLISHBULLISH

Relative Spread

Detail
ℹ
Expiry | Next
Current 59.52% | 103.57%
Calls: 59.52% | 103.57%
Puts: -- | --
Prior 59.52% | 103.57%
Calls: 59.52% | 103.57%
Puts: -- | --
Current vs Prior +0.00% | +0.00%
Prior 7-Day Avg 59.52% | 103.57%
Calls: 59.52% | 103.57%
Puts: 59.52% | 103.57%
Current vs 7-Day Avg +0.00% | -0.00%
Liquidity Expensive
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🤖 AI Insights

Moderately bearish flow with 68% put dollar volume ($3.00M). Extreme bearish P/C ratio of 3.03 - heavy put buying. P/C ratio rising 45% - increased hedging/bearish positioning. Put-heavy open interest (1,400,466 puts vs 450,841 calls) suggests hedging or bearish positioning.

Smart Money BEARISH
Retail Flow BEARISH
Overall BEARISH
Dollar Volume
Option Volume
Put/Call Ratio
Open Interest
Expected Move
Current BEARISH
Prior BULLISH
7-Day Avg BULLISH
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 2 of results (avg 6.9%, best 5.6%)

CALLS (1)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$29.00Sep 180.350.37$0.365.6%4.0K0.3475.2K
PUTS (1)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$25.00Oct 160.230.25$0.248.3%16.6K0.13170.6K

Affordable options under $1.00 per contract. Great for defined-risk strategies with minimal capital. 3 found (avg $0.44, cheapest $0.36)

CALLS (2)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$29.00Sep 180.350.37$0.365.6%4.0K0.3475.2K
$29.00Oct 160.670.75$0.7111.3%5910.4349.6K
PUTS (1)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$25.00Oct 160.230.25$0.248.3%16.6K0.13170.6K

In-the-money options with delta >0.50. Higher probability of profit, lower leverage. 16 found (avg delta 0.75, highest 1.00)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$27.00Sep 110.003.50$1.75200.0%11.0041
$25.50Sep 41.254.95$3.10119.4%10.97--
$27.50Sep 40.002.61$1.31199.2%50.957
$26.00Sep 40.764.45$2.61141.4%30.92--
$28.00Sep 40.002.51$1.25200.8%40.86--
PUTS (2)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.50Sep 110.001.90$0.95200.0%10.67--
$28.50Sep 40.000.46$0.23200.0%6330.632.2K

Most actively traded options today. High liquidity = easy entry/exit. 56 active (total vol 64.7K, top 18.1K)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.00Oct 161.051.57$1.3139.7%4.5K0.6044.9K
$29.00Sep 180.350.37$0.365.6%4.0K0.3475.2K
$30.00Oct 160.250.32$0.2924.1%3.7K0.2540.5K
$30.00Sep 180.110.16$0.1435.7%7720.1662.5K
$27.00Oct 161.102.17$1.6465.2%7120.7211.6K
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.00Oct 160.560.85$0.7140.8%18.1K0.4150.0K
$25.00Oct 160.230.25$0.248.3%16.6K0.13170.6K
$24.00Oct 160.000.20$0.10200.0%11.6K0.074.7K
$26.00Oct 160.330.59$0.4656.5%8660.2215.3K
$28.50Sep 40.000.46$0.23200.0%6330.632.2K

Term structure inversion — near-term IV higher than far-term IV at the same strike. Signals expected near-term catalyst or volatility event. 1 strikes (avg 295.4%, max 295.4%)

CALLS (1)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$27.00Sep 4Oct 16112.6%28.5%295.4%71411.7K
PUTS (0)
No puts found

Bull call spreads & bear put spreads with the best risk/reward ratios. Pay a debit upfront, defined max loss. 18 found (best R:R 2.03, avg 2.34)

BULL CALL (5)
BuySellExpiryDebitMax GainMax LossPOPR:RBE
$27.00$28.00Oct 16$0.33$0.67$0.3372%2.03$27.33
$26.00$27.00Sep 18$0.54$0.46$0.5484%0.85$26.54
$27.00$27.50Sep 4$0.27$0.23$0.2773%0.85$27.27
$29.00$30.00Sep 18$0.22$0.78$0.2234%3.55$29.22
$28.50$29.00Sep 4$0.16$0.34$0.1651%2.12$28.66
BEAR PUT (5)
BuySellExpiryDebitMax GainMax LossPOPR:RBE
$28.00$27.00Oct 16$0.19$0.81$0.1941%4.26$27.81
$26.50$26.00Sep 18$0.10$0.40$0.1022%4.00$26.40
$28.50$28.00Sep 4$0.19$0.31$0.1963%1.63$28.31
$25.00$24.00Oct 16$0.14$0.86$0.1413%6.14$24.86
$26.00$25.00Oct 16$0.22$0.78$0.2222%3.55$25.78

Bear call spreads & bull put spreads collecting premium. Receive credit upfront, profit if stock stays in range. 13 found (best R:R 1.02, avg 0.47)

BEAR CALL (5)
SellBuyExpiryCreditMax GainMax LossPOPR:RBE
$30.00$32.00Oct 2$1.01$1.01$0.9958%1.02$31.01
$30.00$31.00Oct 16$0.27$0.27$0.7375%0.37$30.27
$29.00$30.00Oct 9$0.43$0.43$0.5761%0.75$29.43
$29.00$30.00Oct 16$0.42$0.42$0.5857%0.72$29.42
$29.00$30.00Sep 25$0.27$0.27$0.7368%0.37$29.27
BULL PUT (5)
SellBuyExpiryCreditMax GainMax LossPOPR:RBE
$26.00$25.50Sep 18$0.17$0.17$0.3384%0.52$25.83
$26.00$25.00Oct 16$0.22$0.22$0.7878%0.28$25.78
$25.00$24.00Oct 16$0.14$0.14$0.8687%0.16$24.86
$26.50$26.00Sep 18$0.10$0.10$0.4078%0.25$26.40
$28.00$27.00Oct 16$0.19$0.19$0.8159%0.23$27.81

Same strike, different expirations. Sell near-term, buy far-term. Profits from time decay differential. 2 found (avg debit $0.46, cheapest $0.20)

CALLS (1)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$28.50Sep 4Sep 11$0.2019.8%38.6%
PUTS (1)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$28.50Sep 4Sep 11$0.7219.8%38.6%

Buy call + put at the same strike and expiry. Profits from large moves in either direction. 11 found (cheapest 1.52% of stock, avg 5.82%)

StrikeExpiryCall$Put$TotalBE LowBE HighCost%
$28.50Sep 4$0.20$0.23$0.43$28.07$28.931.52%
$28.00Sep 18$0.55$0.26$0.81$27.19$28.812.86%
$28.00Sep 4$1.25$0.04$1.29$26.71$29.294.56%
$27.50Sep 4$1.31$0.02$1.33$26.17$28.834.70%
$28.50Sep 11$0.40$0.95$1.35$27.15$29.854.77%
$27.00Sep 11$1.75$0.03$1.78$25.22$28.786.29%
$27.00Sep 18$1.54$0.41$1.95$25.05$28.956.89%
$28.00Oct 16$1.31$0.71$2.02$25.98$30.027.13%
$27.00Oct 16$1.64$0.52$2.16$24.84$29.167.63%
$26.00Sep 18$2.08$0.22$2.30$23.70$28.308.12%

Buy OTM call + OTM put at different strikes. Cheaper than straddles, needs bigger move to profit. 41 found (cheapest 0.21% of stock, avg 2.49%)

Call KPut KExpiryCall$Put$TotalBE LowBE High
$29.50$27.50Sep 4$0.04$0.02$0.06$27.44$29.56
$29.00$27.50Sep 4$0.04$0.02$0.06$27.44$29.06
$29.00$28.00Sep 4$0.04$0.04$0.08$27.92$29.08
$29.50$28.00Sep 4$0.04$0.04$0.08$27.92$29.58
$29.50$26.00Sep 4$0.04$0.08$0.12$25.88$29.62
$29.00$26.00Sep 4$0.04$0.08$0.12$25.88$29.12
$30.00$25.50Sep 18$0.14$0.05$0.19$25.31$30.19
$29.00$27.00Sep 11$0.20$0.03$0.23$26.77$29.23
$29.00$27.50Sep 11$0.20$0.07$0.27$27.23$29.27
$30.00$26.00Sep 18$0.14$0.22$0.36$25.64$30.36

Sell OTM put spread + OTM call spread. Collect premium, profit if stock stays between breakevens. 4 found (best R:R 0.69, avg credit $0.40)

Put SpreadCall SpreadExpiryCreditMax LossPOPR:RBE LowBE High
24/2530/31Oct 16$0.41$0.5962%0.69$24.59$30.41
25/2630/31Oct 16$0.49$0.5154%0.96$25.51$30.49
26/2629/30Sep 18$0.39$0.6150%0.64$25.61$29.39
26/2629/30Sep 18$0.32$0.6844%0.47$26.18$29.32

Buy lower + upper strikes, sell 2x middle strike. Low cost, max profit at the middle strike at expiry. 10 found (best R:R 5.67, cheapest $0.08)

CALLS (5)
LowMidHighExpiryDebitMax GainPOPR:R
$29.00$30.00$31.00Oct 16$0.15$0.8539%5.67
$28.00$29.00$30.00Oct 16$0.18$0.8236%4.56
$28.50$29.00$29.50Sep 4$0.16$0.3440%2.12
$27.00$27.50$28.00Sep 4$0.21$0.2913%1.38
$25.50$26.00$26.50Sep 4$0.43$0.0727%0.16
PUTS (5)
LowMidHighExpiryDebitMax GainPOPR:R
$27.50$28.00$28.50Sep 4$0.17$0.3357%1.94
$24.00$25.00$26.00Oct 16$0.08$0.9215%11.50
$26.00$27.00$28.00Oct 16$0.13$0.8719%6.69
$23.00$24.00$25.00Oct 16$0.14$0.868%6.14
$25.00$25.50$26.00Sep 18$0.16$0.3412%2.12

Buy 1 option, sell 2 at a different strike (1:2 ratio). Can be entered for a credit. Unlimited risk on naked leg. 22 found (best net $-0.11, 10 credits)

CALLS (5)
Buy KSell KRatioExpiryNetMax Gain
$28.00$29.001:2Oct 16-$0.11$0.89
$27.00$28.001:2Oct 16-$0.98$0.02
$27.00$28.001:2Sep 18$0.44$0.56
$27.00$28.501:2Sep 11$0.95$0.55
$29.00$30.001:2Oct 16$0.13$0.87
PUTS (5)
Buy KSell KRatioExpiryNetMax Gain
$26.00$25.001:2Oct 2-$0.06$0.94
$28.00$27.001:2Oct 16-$0.33$0.67
$27.50$26.001:2Sep 4-$0.14$1.36
$26.50$26.001:2Sep 18-$0.12$0.38
$24.00$23.001:2Oct 16-$0.10$0.90

Sell OTM calls against 100 shares you own. Collect premium for income, capped upside at strike. Yield% = premium/stock price. 13 found (best yield 2.37%, avg 0.91%)

StrikeExpiryBidDeltaOTM%Yield%If Called%VolOI
$29.00Oct 16$0.670.432.4%2.37%4.77%59149.6K
$30.00Oct 2$0.190.425.9%0.67%6.60%538112
$29.00Oct 9$0.480.392.4%1.69%4.10%2618
$29.00Oct 2$0.370.532.4%1.31%3.71%665
$30.00Oct 16$0.250.255.9%0.88%6.81%3.7K40.5K
$29.00Sep 18$0.350.342.4%1.24%3.64%4.0K75.2K
$30.00Oct 9$0.200.215.9%0.71%6.64%1164
$29.00Sep 25$0.310.322.4%1.09%3.50%42858
$30.00Sep 18$0.110.165.9%0.39%6.32%77262.5K
$30.00Sep 25$0.120.155.9%0.42%6.36%24416

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 21,910
Total Puts 66,451
Put/Call Ratio 3.03
Net Difference -44,541

Prior's Put/Call Breakdown

Total Calls 20,634
Total Puts 43,148
Put/Call Ratio 2.09
Net Difference -22,514

Prior 7-Day Put/Call Summary

Total Calls 177,149
Total Puts 371,450
Average Put/Call Ratio 2.60
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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