Tour v526
WBD
WARNER BROS DISCOVER Series A
$28.25 -0.42%
$28.28 (+0.10%)🌙
as of 09/04 07:11 PM
(9/3 19:10) ◀
|
Friday, September 4, 2026 (7:11pm)
January 2026
|
▶ (9/8 19:07)
◀ 9/4 19:11 ▶

Option Volume

Detail
ℹ
Current (09/04) 91,370
Calls: 36,566 (40%)
Puts: 54,804 (60%)
Prior (09/03) 64,217
Calls: 19,972 (31%)
Puts: 44,245 (69%)
Current vs Prior +42.28%
Calls: +83.09% (Calls)
Puts: +23.86% (Puts)
Prior 7-Day Total 476,269
Calls: 132,210 (28%)
Puts: 344,059 (72%)
Prior 7-Day Average 68,038
Calls: 18,887 (28%)
Puts: 49,151 (72%)
Current vs Prior 7-Day Avg +34.29%
Calls: +93.60%
Puts: +11.50%
Sentiment BEARISH

Dollar Volume

Detail
ℹ
Current (09/04) $4.21M
Calls: $2.44M (58%)
Puts: $1.77M (42%)
Prior (09/03) $2.79M
Calls: $933.6K (33%)
Puts: $1.86M (67%)
Current vs Prior +50.89%
Calls: +161.40%
Puts: -4.72%
Prior 7-Day Total $32.96M
Calls: $17.19M (52%)
Puts: $15.76M (48%)
Prior 7-Day Average $4.71M
Calls: $2.46M (52%)
Puts: $2.25M (48%)
Current vs Prior 7-Day Avg -10.61%
Calls: -0.62%
Puts: -21.50%
Sentiment BULLISH

Put/Call Ratio

Detail
ℹ
Current (09/04) 1.50
Prior (09/03) 2.22
Current vs Prior -32.35%
Prior 7-Day Average 2.86
Current vs Prior 7-Day Avg -47.68%
Sentiment BEARISH

Open Interest

Detail
ℹ
Current (09/04) 1,195,904
Calls: 397,648 (33%)
Puts: 798,256 (67%)
Prior (09/03) 1,236,064
Calls: 476,549 (39%)
Puts: 759,515 (61%)
Current vs Prior -3.25%
Prior 7-Day Total 10,048,519
Calls: 3,153,434 (31%)
Puts: 6,895,085 (69%)
Prior 7-Day Average 1,435,502
Calls: 450,490 (31%)
Puts: 985,012 (69%)
Current vs Prior 7-Day Avg -16.69%
Sentiment BULLISH

Expected Move

Detail
ℹ
Expiry (09/04) | Next (09/11)Expiry (09/18) | Next (10/16)
Current 3.75% | 6.02%3.93% | 8.81%
Prior 3.28% | 6.77%7.08% | 8.35%
Current vs Prior +83.57% | -41.94%-44.54% | +5.51%
Prior 7-Day Avg 3.69% | 5.93%7.18% | 9.63%
Current vs 7-Day Avg +63.12% | -33.77%-45.29% | -8.48%
Prior 7-Day Eod 3.28% | 6.77%7.08% | 8.35%
Current vs 7-Day Eod +83.57% | -41.94%-44.54% | +5.51%
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

Elevated premium activity with dollar volume up 51% vs prior. Bearish P/C ratio of 1.50 indicates protective positioning. P/C ratio dropping 32% - sentiment shifting bullish. Put-heavy open interest (798,256 puts vs 397,648 calls) suggests hedging or bearish positioning.

Smart Money BULLISH
Retail Flow BEARISH
Overall BEARISH
Dollar Volume
Option Volume
Put/Call Ratio
Open Interest
Expected Move
Current BULLISH
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 1 of results (avg 8.3%, best 8.3%)

CALLS (1)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.00Oct 161.151.25$1.208.3%90.5543.7K
PUTS (0)
No puts meet the criteria

Affordable options under $1.00 per contract. Great for defined-risk strategies with minimal capital. 1 found (avg $0.30, cheapest $0.30)

CALLS (1)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$29.00Sep 180.270.32$0.3016.7%6.0K0.3489.7K
PUTS (0)
No puts meet the criteria

In-the-money options with delta >0.50. Higher probability of profit, lower leverage. 28 found (avg delta 0.84, highest 1.03)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.50Sep 110.130.24$0.1957.9%441.03244
$23.00Sep 43.257.40$5.3377.9%11.00--
$24.00Sep 42.975.55$4.2660.6%11.004
$24.50Sep 42.215.30$3.7682.2%21.00--
$25.00Sep 41.805.00$3.4094.1%31.00--
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.50Sep 110.000.50$0.25200.0%231.0022
$31.00Sep 251.104.85$2.97126.3%50.96--
$29.00Sep 40.002.85$1.43199.3%90.9522
$28.50Sep 40.250.67$0.4691.3%360.852.7K
$30.00Oct 161.402.42$1.9153.4%100.7755

Most actively traded options today. High liquidity = easy entry/exit. 72 active (total vol 68.4K, top 24.5K)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$29.00Sep 180.270.32$0.3016.7%6.0K0.3489.7K
$30.00Oct 160.250.33$0.2927.6%4.4K0.2344.7K
$30.00Sep 180.050.09$0.0757.1%4.0K0.1263.8K
$28.00Sep 180.530.90$0.7251.4%1.0K0.64--
$29.00Sep 250.350.48$0.4231.0%1650.31905
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$26.00Oct 160.140.48$0.31109.7%24.5K0.1917.3K
$25.00Oct 160.150.24$0.2045.0%20.1K0.12181.8K
$27.00Oct 160.460.58$0.5223.1%6.6K0.30132.1K
$26.00Sep 180.040.18$0.11127.3%2200.1124.6K
$28.00Sep 110.150.25$0.2050.0%2140.29642

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 131.0%, max 131.0%)

CALLS (0)
No calls found
PUTS (1)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$27.00Sep 11Oct 1662.8%27.2%131.0%6.6K132.1K

Bull call spreads & bear put spreads with the best risk/reward ratios. Pay a debit upfront, defined max loss. 23 found (best R:R 0.72, avg 2.97)

BULL CALL (5)
BuySellExpiryDebitMax GainMax LossPOPR:RBE
$28.50$29.00Sep 11$0.10$0.40$0.10100%4.00$28.60
$27.00$27.50Sep 11$0.25$0.25$0.2586%1.00$27.25
$27.50$28.00Sep 18$0.19$0.31$0.1962%1.63$27.69
$28.00$29.00Sep 18$0.42$0.58$0.4264%1.38$28.42
$28.00$29.00Oct 9$0.44$0.56$0.4455%1.27$28.44
BEAR PUT (5)
BuySellExpiryDebitMax GainMax LossPOPR:RBE
$31.00$29.00Sep 25$1.16$0.84$1.1696%0.72$29.84
$29.00$27.00Sep 25$0.67$1.33$0.6769%1.99$28.33
$30.00$28.00Oct 16$1.04$0.96$1.0477%0.92$28.96
$28.00$27.00Sep 18$0.15$0.85$0.1537%5.67$27.85
$26.00$25.00Oct 16$0.11$0.89$0.1119%8.09$25.89

Bear call spreads & bull put spreads collecting premium. Receive credit upfront, profit if stock stays in range. 15 found (best R:R 0.39, avg 0.38)

BEAR CALL (5)
SellBuyExpiryCreditMax GainMax LossPOPR:RBE
$30.00$31.00Oct 16$0.27$0.27$0.7377%0.37$30.27
$29.50$30.00Sep 18$0.26$0.26$0.2471%1.08$29.76
$29.00$30.00Sep 25$0.29$0.29$0.7169%0.41$29.29
$29.00$30.00Oct 9$0.38$0.38$0.6260%0.61$29.38
$30.00$31.00Sep 25$0.11$0.11$0.8986%0.12$30.11
BULL PUT (5)
SellBuyExpiryCreditMax GainMax LossPOPR:RBE
$24.00$23.00Sep 25$0.28$0.28$0.7286%0.39$23.72
$24.00$23.00Oct 16$0.16$0.16$0.8488%0.19$23.84
$28.00$27.50Sep 11$0.15$0.15$0.3571%0.43$27.85
$26.00$25.00Sep 25$0.12$0.12$0.8883%0.14$25.88
$28.00$27.00Oct 16$0.35$0.35$0.6555%0.54$27.65

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

No setups found for this strategy

Buy call + put at the same strike and expiry. Profits from large moves in either direction. 16 found (cheapest 1.56% of stock, avg 5.95%)

StrikeExpiryCall$Put$TotalBE LowBE HighCost%
$28.50Sep 11$0.19$0.25$0.44$28.06$28.941.56%
$28.50Sep 4$0.02$0.46$0.48$28.02$28.981.70%
$28.00Sep 4$0.60$0.01$0.61$27.39$28.612.16%
$29.00Sep 11$0.09$0.83$0.92$28.08$29.923.26%
$28.00Sep 18$0.72$0.30$1.02$26.98$29.023.61%
$29.00Sep 4$0.01$1.43$1.44$27.56$30.445.10%
$27.50Sep 11$1.48$0.05$1.53$25.97$29.035.42%
$28.00Sep 11$1.45$0.20$1.65$26.35$29.655.84%
$27.00Sep 18$1.55$0.15$1.70$25.30$28.706.02%
$27.00Sep 11$1.73$0.26$1.99$25.01$28.997.04%

Buy OTM call + OTM put at different strikes. Cheaper than straddles, needs bigger move to profit. 42 found (cheapest 0.07% of stock, avg 1.64%)

Call KPut KExpiryCall$Put$TotalBE LowBE High
$29.00$28.00Sep 4$0.01$0.01$0.02$27.98$29.02
$29.00$27.50Sep 4$0.01$0.02$0.03$27.47$29.03
$28.50$28.00Sep 4$0.02$0.01$0.03$27.97$28.53
$28.50$27.50Sep 4$0.02$0.02$0.04$27.46$28.54
$30.00$27.50Sep 11$0.02$0.05$0.07$27.43$30.07
$30.50$27.50Sep 11$0.02$0.05$0.07$27.43$30.57
$29.50$27.50Sep 11$0.08$0.05$0.13$27.37$29.63
$30.00$26.00Sep 18$0.07$0.11$0.18$25.82$30.18
$30.00$26.50Sep 18$0.07$0.14$0.21$26.29$30.21
$30.00$25.00Sep 25$0.13$0.08$0.21$24.79$30.21

Sell OTM put spread + OTM call spread. Collect premium, profit if stock stays between breakevens. 7 found (best R:R 1.33, avg credit $0.41)

Put SpreadCall SpreadExpiryCreditMax LossPOPR:RBE LowBE High
23/2429/30Sep 25$0.57$0.4355%1.33$23.43$29.57
23/2430/31Sep 25$0.39$0.6172%0.64$23.61$30.39
23/2430/31Oct 16$0.43$0.5765%0.75$23.57$30.43
25/2630/31Oct 16$0.38$0.6258%0.61$25.62$30.38
26/2730/31Oct 16$0.48$0.5247%0.92$26.52$30.48
25/2629/30Sep 25$0.41$0.5952%0.69$25.59$29.41
25/2630/31Sep 25$0.23$0.7769%0.30$25.77$30.23

Buy lower + upper strikes, sell 2x middle strike. Low cost, max profit at the middle strike at expiry. 18 found (best R:R 3.08, cheapest $0.06)

CALLS (5)
LowMidHighExpiryDebitMax GainPOPR:R
$26.00$28.00$30.00Oct 16$0.54$1.4658%2.70
$28.50$29.00$29.50Sep 11$0.09$0.4171%4.56
$28.00$29.00$30.00Oct 9$0.06$0.9430%15.67
$29.50$30.00$30.50Sep 11$0.06$0.4424%7.33
$29.00$30.00$31.00Sep 25$0.18$0.8228%4.56
PUTS (5)
LowMidHighExpiryDebitMax GainPOPR:R
$27.00$29.00$31.00Sep 25$0.49$1.5156%3.08
$26.00$27.00$28.00Oct 16$0.14$0.8626%6.14
$25.00$26.00$27.00Oct 16$0.10$0.9018%9.00
$24.00$25.00$26.00Sep 18$0.08$0.926%11.50
$27.50$28.00$28.50Sep 4$0.46$0.0477%0.09

Buy 1 option, sell 2 at a different strike (1:2 ratio). Can be entered for a credit. Unlimited risk on naked leg. 37 found (best net $-0.65, 20 credits)

CALLS (5)
Buy KSell KRatioExpiryNetMax Gain
$26.00$27.001:2Sep 18-$0.56$0.44
$28.00$29.001:2Oct 9-$0.27$0.73
$29.00$29.501:2Sep 11-$0.07$0.43
$27.00$27.501:2Sep 18-$0.27$0.23
$31.00$32.001:2Oct 16$0.00$1.00
PUTS (5)
Buy KSell KRatioExpiryNetMax Gain
$31.00$29.001:2Sep 25-$0.65$1.35
$29.00$27.001:2Sep 25-$0.47$1.53
$28.00$27.001:2Sep 18$0.00$1.00
$28.00$27.001:2Oct 16-$0.17$0.83
$27.00$26.001:2Oct 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. 8 found (best yield 1.45%, avg 0.92%)

StrikeExpiryBidDeltaOTM%Yield%If Called%VolOI
$29.00Oct 2$0.410.542.6%1.45%4.11%170
$29.00Oct 9$0.410.402.6%1.45%4.11%142
$30.00Oct 16$0.250.236.2%0.88%7.08%4.4K44.7K
$30.00Oct 9$0.200.246.2%0.71%6.90%6--
$29.00Sep 25$0.350.312.6%1.24%3.89%165905
$29.00Sep 18$0.270.342.6%0.96%3.61%6.0K89.7K
$30.00Oct 2$0.100.236.2%0.35%6.55%12--
$30.00Sep 25$0.080.146.2%0.28%6.48%12434

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 36,566
Total Puts 54,804
Put/Call Ratio 1.50
Net Difference -18,238

Prior's Put/Call Breakdown

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

Prior 7-Day Put/Call Summary

Total Calls 132,210
Total Puts 344,059
Average Put/Call Ratio 2.86
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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