Tour v526
WBD
WARNER BROS DISCOVER Series A
$28.39 +0.25%
$28.27 (-0.41%)🌙
as of 09/02 07:09 PM
(9/1 19:15) ◀
|
Wednesday, September 2, 2026 (7:09pm)
January 2026
|
▶ (9/3 19:10)
◀ 9/2 19:09 ▶

Option Volume

Detail
ℹ
Current (09/02) 60,467
Calls: 23,859 (39%)
Puts: 36,608 (61%)
Prior (09/01) 88,361
Calls: 21,910 (25%)
Puts: 66,451 (75%)
Current vs Prior -31.57%
Calls: +8.90% (Calls)
Puts: -44.91% (Puts)
Prior 7-Day Total 571,396
Calls: 177,689 (31%)
Puts: 393,707 (69%)
Prior 7-Day Average 81,628
Calls: 25,384 (31%)
Puts: 56,243 (69%)
Current vs Prior 7-Day Avg -25.92%
Calls: -6.01%
Puts: -34.91%
Sentiment BEARISH

Dollar Volume

Detail
ℹ
Current (09/02) $2.72M
Calls: $567.1K (21%)
Puts: $2.16M (79%)
Prior (09/01) $4.40M
Calls: $1.40M (32%)
Puts: $3.00M (68%)
Current vs Prior -38.06%
Calls: -59.36%
Puts: -28.16%
Prior 7-Day Total $42.72M
Calls: $26.48M (62%)
Puts: $16.24M (38%)
Prior 7-Day Average $6.10M
Calls: $3.78M (62%)
Puts: $2.32M (38%)
Current vs Prior 7-Day Avg -55.37%
Calls: -85.01%
Puts: -7.04%
Sentiment BEARISH

Put/Call Ratio

Detail
ℹ
Current (09/02) 1.53
Prior (09/01) 3.03
Current vs Prior -49.41%
Prior 7-Day Average 2.73
Current vs Prior 7-Day Avg -43.88%
Sentiment BEARISH

Open Interest

Detail
ℹ
Current (09/02) 1,820,160
Calls: 536,739 (29%)
Puts: 1,283,421 (71%)
Prior (09/01) 1,851,307
Calls: 450,841 (24%)
Puts: 1,400,466 (76%)
Current vs Prior -1.68%
Prior 7-Day Total 10,094,174
Calls: 3,361,633 (33%)
Puts: 6,732,541 (67%)
Prior 7-Day Average 1,442,024
Calls: 480,233 (33%)
Puts: 961,791 (67%)
Current vs Prior 7-Day Avg +26.22%
Sentiment BULLISH

Expected Move

Detail
ℹ
Expiry (09/04) | Next (09/11)Expiry (09/18) | Next (10/16)
Current 2.99% | 8.03%7.61% | 15.18%
Prior 5.23% | 8.02%6.36% | 9.00%
Current vs Prior -42.71% | +0.19%+19.70% | +68.60%
Prior 7-Day Avg 3.81% | 6.02%6.90% | 8.47%
Current vs 7-Day Avg -21.41% | +33.44%+10.29% | +79.24%
Prior 7-Day Eod 5.23% | 8.02%6.36% | 9.00%
Current vs 7-Day Eod -42.71% | +0.19%+19.70% | +68.60%
Sentiment BULLISHBEARISH

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

Strong bearish conviction with 79% of dollar volume in puts ($2.16M) vs calls ($567.1K). Extreme bearish P/C ratio of 1.53 - heavy put buying. P/C ratio dropping 49% - sentiment shifting bullish. Put-heavy open interest (1,283,421 puts vs 536,739 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 BEARISH
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 -- 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. 1 found (avg $0.36, cheapest $0.36)

CALLS (1)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$29.00Sep 180.340.38$0.3611.1%3600.3777.7K
PUTS (0)
No puts meet the criteria

In-the-money options with delta >0.50. Higher probability of profit, lower leverage. 18 found (avg delta 0.85, highest 1.00)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$23.00Sep 253.706.40$5.0553.5%11.001
$24.00Sep 42.626.50$4.5685.1%40.99--
$24.50Sep 42.126.00$4.0695.6%10.99--
$25.00Sep 41.755.50$3.63103.3%20.99--
$26.00Sep 40.854.50$2.68136.2%20.991
PUTS (1)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.50Sep 40.150.35$0.2580.0%250.542.7K

Most actively traded options today. High liquidity = easy entry/exit. 57 active (total vol 31.4K, top 15.1K)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.50Sep 40.160.28$0.2254.5%15.1K0.4891
$30.00Sep 180.080.13$0.1145.5%2.0K0.1562.8K
$29.00Sep 40.040.08$0.0666.7%1.8K0.19459
$30.00Oct 160.250.33$0.2927.6%1.3K0.2543.3K
$31.00Sep 40.000.01$0.01100.0%6090.01292
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$25.00Oct 160.200.25$0.2321.7%3.4K0.12179.2K
$28.00Oct 160.510.90$0.7154.9%2.5K0.4064.1K
$26.00Oct 160.200.38$0.2962.1%1.1K0.1715.8K
$27.00Oct 160.300.61$0.4568.9%5510.26132.6K
$27.00Sep 180.060.19$0.13100.0%3030.1522.5K

Term structure inversion — near-term IV higher than far-term IV at the same strike. Signals expected near-term catalyst or volatility event. 4 strikes (avg 20.6%, max 30.3%)

CALLS (3)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$28.50Sep 4Sep 1128.8%22.1%30.3%15.2K315
$29.00Sep 4Oct 1628.6%22.3%28.5%2.4K50.5K
$28.00Sep 4Oct 1627.5%24.6%11.7%2443.0K
PUTS (1)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$28.00Sep 4Oct 1627.5%24.6%11.7%2.8K64.5K

Bull call spreads & bear put spreads with the best risk/reward ratios. Pay a debit upfront, defined max loss. 18 found (best R:R 1.17, avg 3.03)

BULL CALL (5)
BuySellExpiryDebitMax GainMax LossPOPR:RBE
$26.00$27.00Sep 18$0.46$0.54$0.4693%1.17$26.46
$27.00$28.00Oct 16$0.34$0.66$0.3474%1.94$27.34
$27.00$28.00Sep 11$0.44$0.56$0.4477%1.27$27.44
$28.00$29.00Sep 18$0.40$0.60$0.4068%1.50$28.40
$28.50$29.00Sep 4$0.16$0.34$0.1648%2.12$28.66
BEAR PUT (5)
BuySellExpiryDebitMax GainMax LossPOPR:RBE
$28.00$27.00Sep 18$0.11$0.89$0.1132%8.09$27.89
$28.00$27.00Oct 16$0.26$0.74$0.2640%2.85$27.74
$27.00$26.00Oct 16$0.16$0.84$0.1626%5.25$26.84
$28.50$28.00Sep 4$0.18$0.32$0.1854%1.78$28.32
$24.00$23.00Oct 16$0.17$0.83$0.1712%4.88$23.83

Bear call spreads & bull put spreads collecting premium. Receive credit upfront, profit if stock stays in range. 13 found (best R:R 1.27, avg 0.44)

BEAR CALL (5)
SellBuyExpiryCreditMax GainMax LossPOPR:RBE
$29.00$30.00Oct 9$0.49$0.49$0.5159%0.96$29.49
$30.00$31.00Oct 16$0.27$0.27$0.7375%0.37$30.27
$30.00$31.00Oct 9$0.25$0.25$0.7578%0.33$30.25
$29.00$30.00Oct 16$0.40$0.40$0.6056%0.67$29.40
$30.00$31.00Sep 18$0.10$0.10$0.9085%0.11$30.10
BULL PUT (5)
SellBuyExpiryCreditMax GainMax LossPOPR:RBE
$26.50$26.00Sep 18$0.28$0.28$0.2279%1.27$26.22
$24.00$23.00Oct 16$0.17$0.17$0.8388%0.20$23.83
$27.00$26.00Oct 16$0.16$0.16$0.8474%0.19$26.84
$28.00$27.00Oct 16$0.26$0.26$0.7460%0.35$27.74
$28.00$27.00Sep 18$0.11$0.11$0.8968%0.12$27.89

Same strike, different expirations. Sell near-term, buy far-term. Profits from time decay differential. 2 found (avg debit $0.64, cheapest $0.13)

CALLS (1)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$28.50Sep 4Sep 11$0.1328.8%22.1%
PUTS (1)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$28.50Sep 4Sep 18$1.1528.8%58.3%

Buy call + put at the same strike and expiry. Profits from large moves in either direction. 10 found (cheapest 1.66% of stock, avg 6.00%)

StrikeExpiryCall$Put$TotalBE LowBE HighCost%
$28.50Sep 4$0.22$0.25$0.47$28.03$28.971.66%
$28.00Sep 4$0.60$0.07$0.67$27.33$28.672.36%
$28.00Sep 18$0.76$0.24$1.00$27.00$29.003.52%
$28.00Sep 11$1.33$0.16$1.49$26.51$29.495.25%
$27.50Sep 4$1.50$0.01$1.51$25.99$29.015.32%
$28.00Oct 16$1.41$0.71$2.12$25.88$30.127.47%
$27.00Oct 16$1.75$0.45$2.20$24.80$29.207.75%
$27.00Sep 18$2.12$0.13$2.25$24.75$29.257.93%
$26.00Sep 18$2.58$0.06$2.64$23.36$28.649.30%
$26.00Sep 4$2.68$0.01$2.69$23.31$28.699.48%

Buy OTM call + OTM put at different strikes. Cheaper than straddles, needs bigger move to profit. 29 found (cheapest 0.32% of stock, avg 2.36%)

Call KPut KExpiryCall$Put$TotalBE LowBE High
$30.00$28.00Sep 4$0.02$0.07$0.09$27.91$30.09
$29.00$28.00Sep 4$0.06$0.07$0.13$27.87$29.13
$29.50$28.00Sep 4$0.06$0.07$0.13$27.87$29.63
$30.00$27.00Sep 18$0.11$0.13$0.24$26.76$30.24
$30.00$28.00Sep 11$0.13$0.16$0.29$27.71$30.29
$30.50$28.00Sep 11$0.12$0.16$0.28$27.72$30.78
$29.50$28.00Sep 11$0.19$0.16$0.35$27.65$29.85
$28.50$28.00Sep 4$0.22$0.07$0.29$27.71$28.79
$30.00$25.50Sep 18$0.11$0.29$0.40$25.10$30.40
$30.00$28.00Sep 18$0.11$0.24$0.35$27.65$30.35

Sell OTM put spread + OTM call spread. Collect premium, profit if stock stays between breakevens. 4 found (best R:R 0.79, avg credit $0.36)

Put SpreadCall SpreadExpiryCreditMax LossPOPR:RBE LowBE High
23/2430/31Oct 16$0.44$0.5662%0.79$23.56$30.44
26/2630/31Sep 18$0.38$0.6264%0.61$26.12$30.38
26/2730/31Oct 16$0.43$0.5748%0.75$26.57$30.43
27/2830/31Sep 18$0.21$0.7952%0.27$27.79$30.21

Buy lower + upper strikes, sell 2x middle strike. Low cost, max profit at the middle strike at expiry. 13 found (best R:R 5.67, cheapest $0.07)

CALLS (5)
LowMidHighExpiryDebitMax GainPOPR:R
$28.00$29.00$30.00Sep 18$0.15$0.8553%5.67
$29.00$30.00$31.00Oct 16$0.13$0.8740%6.69
$29.00$30.00$31.00Sep 18$0.15$0.8535%5.67
$28.00$28.50$29.00Sep 4$0.22$0.2861%1.27
$29.00$30.00$31.00Oct 9$0.24$0.7638%3.17
PUTS (4)
LowMidHighExpiryDebitMax GainPOPR:R
$27.50$28.00$28.50Sep 4$0.12$0.3850%3.17
$26.00$27.00$28.00Oct 16$0.10$0.9022%9.00
$25.00$26.00$27.00Oct 16$0.10$0.9014%9.00
$24.00$25.00$26.00Oct 16$0.12$0.885%7.33

Buy 1 option, sell 2 at a different strike (1:2 ratio). Can be entered for a credit. Unlimited risk on naked leg. 25 found (best net $-0.19, 9 credits)

CALLS (5)
Buy KSell KRatioExpiryNetMax Gain
$29.50$30.001:2Sep 11-$0.07$0.43
$29.00$29.501:2Sep 4-$0.06$0.44
$30.00$30.501:2Sep 11-$0.11$0.39
$27.00$28.001:2Sep 11-$0.89$0.11
$24.00$27.001:2Oct 16$0.72$2.28
PUTS (5)
Buy KSell KRatioExpiryNetMax Gain
$28.00$27.001:2Oct 16-$0.19$0.81
$27.00$26.001:2Oct 16-$0.13$0.87
$27.50$26.001:2Sep 4-$0.01$1.49
$26.00$25.001:2Oct 16-$0.17$0.83
$25.00$24.001:2Oct 16-$0.35$0.65

Sell OTM calls against 100 shares you own. Collect premium for income, capped upside at strike. Yield% = premium/stock price. 12 found (best yield 2.11%, avg 0.88%)

StrikeExpiryBidDeltaOTM%Yield%If Called%VolOI
$29.00Oct 16$0.600.442.1%2.11%4.26%52650.1K
$30.00Oct 16$0.250.255.7%0.88%6.55%1.3K43.3K
$29.00Oct 9$0.350.412.1%1.23%3.38%244
$29.00Oct 2$0.350.372.1%1.23%3.38%371
$29.00Sep 18$0.340.372.1%1.20%3.35%36077.7K
$30.00Oct 9$0.200.225.7%0.70%6.38%50120
$29.00Sep 25$0.350.332.1%1.23%3.38%1--
$30.00Sep 25$0.110.175.7%0.39%6.06%16--
$29.00Sep 11$0.100.462.1%0.35%2.50%30137
$30.00Sep 18$0.080.155.7%0.28%5.95%2.0K62.8K

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 23,859
Total Puts 36,608
Put/Call Ratio 1.53
Net Difference -12,749

Prior's Put/Call Breakdown

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

Prior 7-Day Put/Call Summary

Total Calls 177,689
Total Puts 393,707
Average Put/Call Ratio 2.73
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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