Tour v526
WBD
WARNER BROS DISCOVER Series A
$28.37 -0.07%
$28.33 (-0.14%)🌙
as of 09/03 07:10 PM
(9/2 19:09) ◀
|
Thursday, September 3, 2026 (7:10pm)
January 2026
|
▶ (9/4 19:11)
◀ 9/3 19:10 ▶

Option Volume

Detail
ℹ
Current (09/03) 64,217
Calls: 19,972 (31%)
Puts: 44,245 (69%)
Prior (09/02) 60,467
Calls: 23,859 (39%)
Puts: 36,608 (61%)
Current vs Prior +6.20%
Calls: -16.29% (Calls)
Puts: +20.86% (Puts)
Prior 7-Day Total 559,315
Calls: 159,825 (29%)
Puts: 399,490 (71%)
Prior 7-Day Average 79,902
Calls: 22,832 (29%)
Puts: 57,070 (71%)
Current vs Prior 7-Day Avg -19.63%
Calls: -12.53%
Puts: -22.47%
Sentiment BEARISH

Dollar Volume

Detail
ℹ
Current (09/03) $2.79M
Calls: $933.6K (33%)
Puts: $1.86M (67%)
Prior (09/02) $2.72M
Calls: $567.1K (21%)
Puts: $2.16M (79%)
Current vs Prior +2.41%
Calls: +64.64%
Puts: -13.96%
Prior 7-Day Total $43.13M
Calls: $25.33M (59%)
Puts: $17.80M (41%)
Prior 7-Day Average $6.16M
Calls: $3.62M (59%)
Puts: $2.54M (41%)
Current vs Prior 7-Day Avg -54.73%
Calls: -74.20%
Puts: -27.04%
Sentiment BEARISH

Put/Call Ratio

Detail
ℹ
Current (09/03) 2.22
Prior (09/02) 1.53
Current vs Prior +44.38%
Prior 7-Day Average 2.85
Current vs Prior 7-Day Avg -22.20%
Sentiment BEARISH

Open Interest

Detail
ℹ
Current (09/03) 1,236,064
Calls: 476,549 (39%)
Puts: 759,515 (61%)
Prior (09/02) 1,820,160
Calls: 536,739 (29%)
Puts: 1,283,421 (71%)
Current vs Prior -32.09%
Prior 7-Day Total 10,327,520
Calls: 3,184,575 (31%)
Puts: 7,142,945 (69%)
Prior 7-Day Average 1,475,360
Calls: 454,939 (31%)
Puts: 1,020,420 (69%)
Current vs Prior 7-Day Avg -16.22%
Sentiment BULLISH

Expected Move

Detail
ℹ
Expiry (09/04) | Next (09/11)Expiry (09/18) | Next (10/16)
Current 3.28% | 6.77%7.08% | 8.35%
Prior 2.99% | 8.03%7.61% | 15.18%
Current vs Prior +9.49% | -15.73%-6.88% | -44.97%
Prior 7-Day Avg 3.56% | 5.88%7.05% | 9.68%
Current vs 7-Day Avg -7.97% | +15.20%+0.50% | -13.73%
Prior 7-Day Eod 2.99% | 8.03%7.61% | 15.18%
Current vs 7-Day Eod +9.49% | -15.73%-6.88% | -44.97%
Sentiment BEARISHBULLISH

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 67% put dollar volume ($1.86M). Extreme bearish P/C ratio of 2.22 - heavy put buying. P/C ratio rising 44% - increased hedging/bearish positioning. Put-heavy open interest (759,515 puts vs 476,549 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 2 of results (avg 9.3%, best 8.8%)

CALLS (2)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$30.00Oct 160.320.35$0.348.8%7610.2644.0K
$29.00Oct 160.680.75$0.729.7%160.4350.2K
PUTS (0)
No puts meet the criteria

Affordable options under $1.00 per contract. Great for defined-risk strategies with minimal capital. 2 found (avg $0.53, cheapest $0.34)

CALLS (2)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$30.00Oct 160.320.35$0.348.8%7610.2644.0K
$29.00Oct 160.680.75$0.729.7%160.4350.2K
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 0.72, highest 0.98)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$26.50Sep 40.073.45$1.76192.0%70.9810
$27.50Sep 40.002.38$1.19200.0%40.9510
$27.00Sep 40.162.07$1.12170.5%20.9483
$26.00Sep 182.002.97$2.4939.0%20.90--
$26.00Oct 162.133.70$2.9253.8%30.863.9K
PUTS (2)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.50Sep 40.170.36$0.2770.4%340.59--
$29.00Oct 160.841.38$1.1148.6%170.58111

Most actively traded options today. High liquidity = easy entry/exit. 60 active (total vol 28.0K, top 15.9K)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$29.00Sep 180.270.35$0.3125.8%15.9K0.3378.0K
$30.00Oct 160.320.35$0.348.8%7610.2644.0K
$30.00Sep 180.090.12$0.1127.3%3520.1464.1K
$28.50Sep 40.070.24$0.16106.2%2520.4215.2K
$28.00Oct 161.151.38$1.2618.3%1120.6043.6K
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.00Sep 40.050.09$0.0757.1%8.4K0.23608
$26.00Oct 160.050.35$0.20150.0%6680.1516.8K
$28.00Sep 110.030.25$0.14157.1%5050.24142
$28.00Sep 180.300.41$0.3630.6%3800.3915.5K
$26.00Sep 180.050.18$0.12108.3%560.1124.6K

Term structure inversion — near-term IV higher than far-term IV at the same strike. Signals expected near-term catalyst or volatility event. 3 strikes (avg 49.3%, max 78.0%)

CALLS (3)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$29.00Sep 4Oct 1643.7%24.5%78.0%12552.0K
$28.00Sep 4Oct 1637.0%23.3%59.1%11343.7K
$28.50Sep 4Sep 1836.3%32.7%10.8%27715.2K
PUTS (0)
No puts found

Bull call spreads & bear put spreads with the best risk/reward ratios. Pay a debit upfront, defined max loss. 15 found (best R:R 2.85, avg 2.66)

BULL CALL (5)
BuySellExpiryDebitMax GainMax LossPOPR:RBE
$27.00$28.00Oct 2$0.26$0.74$0.2671%2.85$27.26
$27.00$29.00Sep 11$1.12$0.88$1.1282%0.79$28.12
$27.00$28.00Sep 25$0.40$0.60$0.4071%1.50$27.40
$29.00$30.00Oct 2$0.11$0.89$0.1155%8.09$29.11
$28.50$29.00Sep 4$0.10$0.40$0.1042%4.00$28.60
BEAR PUT (5)
BuySellExpiryDebitMax GainMax LossPOPR:RBE
$29.00$27.00Oct 16$0.62$1.38$0.6258%2.23$28.38
$28.50$28.00Sep 4$0.20$0.30$0.2059%1.50$28.30
$28.00$27.00Sep 18$0.24$0.76$0.2439%3.17$27.76
$26.50$26.00Sep 18$0.10$0.40$0.1018%4.00$26.40
$27.00$26.00Oct 16$0.29$0.71$0.2928%2.45$26.71

Bear call spreads & bull put spreads collecting premium. Receive credit upfront, profit if stock stays in range. 10 found (best R:R 0.47, avg 0.63)

BEAR CALL (5)
SellBuyExpiryCreditMax GainMax LossPOPR:RBE
$30.00$31.00Oct 16$0.32$0.32$0.6874%0.47$30.32
$29.50$30.00Sep 18$0.28$0.28$0.2270%1.27$29.78
$28.50$29.00Sep 18$0.35$0.35$0.1553%2.33$28.85
$29.50$30.50Sep 11$0.20$0.20$0.8066%0.25$29.70
$29.00$30.00Oct 16$0.38$0.38$0.6257%0.61$29.38
BULL PUT (3)
SellBuyExpiryCreditMax GainMax LossPOPR:RBE
$27.00$26.00Oct 16$0.29$0.29$0.7172%0.41$26.71
$26.50$26.00Sep 18$0.10$0.10$0.4082%0.25$26.40
$28.00$27.00Sep 18$0.24$0.24$0.7661%0.32$27.76

Same strike, different expirations. Sell near-term, buy far-term. Profits from time decay differential. 2 found (avg debit $0.49, cheapest $0.50)

CALLS (1)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$28.50Sep 4Sep 18$0.5036.3%32.7%
PUTS (1)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$28.50Sep 4Sep 11$0.4836.3%55.5%

Buy call + put at the same strike and expiry. Profits from large moves in either direction. 9 found (cheapest 1.52% of stock, avg 6.16%)

StrikeExpiryCall$Put$TotalBE LowBE HighCost%
$28.50Sep 4$0.16$0.27$0.43$28.07$28.931.52%
$28.00Sep 4$0.66$0.07$0.73$27.27$28.732.57%
$28.00Sep 18$0.71$0.36$1.07$26.93$29.073.77%
$27.50Sep 4$1.19$0.01$1.20$26.30$28.704.23%
$26.50Sep 4$1.76$0.01$1.77$24.73$28.276.24%
$29.00Oct 16$0.72$1.11$1.83$27.17$30.836.45%
$26.00Sep 18$2.49$0.12$2.61$23.39$28.619.20%
$28.00Oct 9$1.56$1.40$2.96$25.04$30.9610.43%
$26.00Oct 16$2.92$0.20$3.12$22.88$29.1211.00%

Buy OTM call + OTM put at different strikes. Cheaper than straddles, needs bigger move to profit. 42 found (cheapest 0.35% of stock, avg 2.32%)

Call KPut KExpiryCall$Put$TotalBE LowBE High
$30.00$28.00Sep 4$0.03$0.07$0.10$27.90$30.10
$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
$30.50$28.00Sep 11$0.03$0.14$0.17$27.83$30.67
$30.00$27.00Sep 18$0.11$0.12$0.23$26.77$30.23
$30.00$26.00Sep 18$0.11$0.12$0.23$25.77$30.23
$28.50$28.00Sep 4$0.16$0.07$0.23$27.77$28.73
$30.00$26.50Sep 18$0.11$0.22$0.33$26.17$30.33
$30.00$25.00Oct 2$0.17$0.13$0.30$24.70$30.30
$29.50$28.00Sep 11$0.23$0.14$0.37$27.63$29.87

Sell OTM put spread + OTM call spread. Collect premium, profit if stock stays between breakevens. 2 found (best R:R 3.17, avg credit $0.49)

Put SpreadCall SpreadExpiryCreditMax LossPOPR:RBE LowBE High
26/2630/30Sep 18$0.38$0.1252%3.17$26.12$29.88
26/2730/31Oct 16$0.61$0.3946%1.56$26.39$30.61

Buy lower + upper strikes, sell 2x middle strike. Low cost, max profit at the middle strike at expiry. 7 found (best R:R 15.67, cheapest $0.06)

CALLS (5)
LowMidHighExpiryDebitMax GainPOPR:R
$29.00$30.00$31.00Oct 16$0.06$0.9439%15.67
$28.00$29.00$30.00Oct 16$0.16$0.8434%5.25
$28.50$29.00$29.50Sep 4$0.10$0.4029%4.00
$28.00$28.50$29.00Sep 4$0.40$0.1060%0.25
$28.50$29.00$29.50Sep 18$0.43$0.0717%0.16
PUTS (2)
LowMidHighExpiryDebitMax GainPOPR:R
$27.50$28.00$28.50Sep 4$0.14$0.3654%2.57
$25.00$26.00$27.00Oct 16$0.26$0.7417%2.85

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 $-0.13, 14 credits)

CALLS (5)
Buy KSell KRatioExpiryNetMax Gain
$27.50$28.001:2Sep 4-$0.13$0.37
$28.00$29.001:2Oct 16-$0.18$0.82
$29.00$30.001:2Oct 2-$0.06$0.94
$26.50$27.001:2Sep 4-$0.48$0.02
$29.00$29.501:2Sep 4-$0.06$0.44
PUTS (5)
Buy KSell KRatioExpiryNetMax Gain
$25.00$23.001:2Oct 16-$0.05$1.95
$26.50$24.501:2Sep 4-$0.01$1.99
$26.00$25.001:2Oct 16-$0.14$0.86
$27.00$26.501:2Sep 18-$0.32$0.18
$25.00$24.001:2Oct 2-$0.55$0.45

Sell OTM calls against 100 shares you own. Collect premium for income, capped upside at strike. Yield% = premium/stock price. 10 found (best yield 2.40%, avg 0.78%)

StrikeExpiryBidDeltaOTM%Yield%If Called%VolOI
$29.00Oct 16$0.680.432.2%2.40%4.62%1650.2K
$30.00Oct 16$0.320.265.8%1.13%6.87%76144.0K
$30.00Oct 9$0.200.295.8%0.70%6.45%19120
$30.00Oct 2$0.100.245.8%0.35%6.10%6512
$29.00Sep 18$0.270.332.2%0.95%3.17%15.9K78.0K
$29.00Sep 25$0.270.312.2%0.95%3.17%6899
$29.50Sep 18$0.090.304.0%0.32%4.30%547
$30.00Sep 18$0.090.145.8%0.32%6.06%35264.1K
$28.50Sep 18$0.120.470.5%0.42%0.88%255
$28.50Sep 4$0.070.420.5%0.25%0.70%25215.2K

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 19,972
Total Puts 44,245
Put/Call Ratio 2.22
Net Difference -24,273

Prior's Put/Call Breakdown

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

Prior 7-Day Put/Call Summary

Total Calls 159,825
Total Puts 399,490
Average Put/Call Ratio 2.85
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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