Tour v527
WBD
WARNER BROS DISCOVER Series A
$27.91 -0.75%
$27.93 (+0.07%)🌙
as of 09/09 07:11 PM
(9/8 19:07) ◀
|
Wednesday, September 9, 2026 (7:11pm)
January 2026
|
▶ (9/10 19:14)
◀ 9/9 19:11 ▶

Option Volume

Detail
ℹ
Current (09/09) 37,894
Calls: 16,710 (44%)
Puts: 21,184 (56%)
Prior (09/08) 69,074
Calls: 37,884 (55%)
Puts: 31,190 (45%)
Current vs Prior -45.14%
Calls: -55.89% (Calls)
Puts: -32.08% (Puts)
Prior 7-Day Total 468,917
Calls: 165,477 (35%)
Puts: 303,440 (65%)
Prior 7-Day Average 66,988
Calls: 23,639 (35%)
Puts: 43,348 (65%)
Current vs Prior 7-Day Avg -43.43%
Calls: -29.31%
Puts: -51.13%
Sentiment BEARISH

Dollar Volume

Detail
ℹ
Current (09/09) $2.74M
Calls: $1.01M (37%)
Puts: $1.73M (63%)
Prior (09/08) $4.66M
Calls: $2.55M (55%)
Puts: $2.10M (45%)
Current vs Prior -41.19%
Calls: -60.35%
Puts: -17.96%
Prior 7-Day Total $24.11M
Calls: $10.38M (43%)
Puts: $13.73M (57%)
Prior 7-Day Average $3.44M
Calls: $1.48M (43%)
Puts: $1.96M (57%)
Current vs Prior 7-Day Avg -20.50%
Calls: -31.79%
Puts: -11.96%
Sentiment BEARISH

Put/Call Ratio

Detail
ℹ
Current (09/09) 1.27
Prior (09/08) 0.82
Current vs Prior +53.98%
Prior 7-Day Average 2.31
Current vs Prior 7-Day Avg -45.21%
Sentiment BEARISH

Open Interest

Detail
ℹ
Current (09/09) 1,263,174
Calls: 599,163 (47%)
Puts: 664,011 (53%)
Prior (09/08) 1,460,756
Calls: 580,753 (40%)
Puts: 880,003 (60%)
Current vs Prior -13.53%
Prior 7-Day Total 9,930,365
Calls: 3,263,371 (33%)
Puts: 6,666,994 (67%)
Prior 7-Day Average 1,418,623
Calls: 466,195 (33%)
Puts: 952,427 (67%)
Current vs Prior 7-Day Avg -10.96%
Sentiment BULLISH

Expected Move

Detail
ℹ
Expiry (09/11) | Next (09/18)Expiry (09/18) | Next (10/16)
Current 2.62% | 4.30%4.30% | 8.38%
Prior 4.30% | 7.11%7.11% | 9.42%
Current vs Prior -39.22% | -39.55%-39.55% | -11.03%
Prior 7-Day Avg 4.64% | 6.60%6.82% | 9.78%
Current vs 7-Day Avg -43.66% | -34.83%-36.92% | -14.25%
Prior 7-Day Eod 4.30% | 7.11%7.11% | 9.42%
Current vs 7-Day Eod -39.22% | -39.55%-39.55% | -11.03%
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 63% put dollar volume ($1.73M). Below-average activity with volume down 45% vs prior. Bearish P/C ratio of 1.27 indicates protective positioning. P/C ratio rising 54% - increased hedging/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 BEARISH
Current BEARISH
Prior NEUTRAL
7-Day Avg NEUTRAL
Current BEARISH
Prior NEUTRAL
7-Day Avg NEUTRAL
Current NEUTRAL
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 4.4%, best 4.4%)

CALLS (1)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$29.00Oct 160.660.69$0.684.4%5.3K0.3766.4K
PUTS (0)
No puts meet the criteria

Affordable options under $1.00 per contract. Great for defined-risk strategies with minimal capital. 3 found (avg $0.44, cheapest $0.29)

CALLS (2)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$30.00Oct 160.260.31$0.2917.2%1380.2249.2K
$29.00Oct 160.660.69$0.684.4%5.3K0.3766.4K
PUTS (1)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$26.00Oct 160.310.37$0.3417.6%10.21--

In-the-money options with delta >0.50. Higher probability of profit, lower leverage. 21 found (avg delta 0.80, highest 1.00)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$24.00Sep 112.316.10$4.2190.0%21.00--
$24.50Sep 111.885.60$3.7499.5%10.99--
$25.00Sep 111.084.70$2.89125.3%50.98--
$27.00Sep 110.452.15$1.30130.8%110.9736
$26.00Sep 181.313.00$2.1678.2%10.931.9K
PUTS (4)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.50Sep 110.191.50$0.85154.1%11.0043
$29.00Sep 180.091.93$1.01182.2%160.84--
$30.00Oct 160.402.28$1.34140.3%500.7855
$29.00Oct 90.003.65$1.83199.5%160.67--

Most actively traded options today. High liquidity = easy entry/exit. 60 active (total vol 26.0K, top 8.2K)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.00Sep 180.250.79$0.52103.8%8.2K0.5453.8K
$29.00Oct 160.660.69$0.684.4%5.3K0.3766.4K
$29.00Sep 180.120.20$0.1650.0%1.2K0.2383.9K
$30.00Sep 180.030.06$0.0560.0%2640.0866.6K
$30.00Oct 160.260.31$0.2917.2%1380.2249.2K
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.00Sep 180.280.55$0.4264.3%7.9K0.4815.6K
$25.00Sep 180.000.05$0.03166.7%1.0K0.04--
$28.00Oct 160.841.07$0.9624.0%4650.5066.7K
$27.50Sep 180.000.25$0.13192.3%2900.259
$27.50Sep 110.000.10$0.05200.0%2500.1655

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 64.9%, max 68.8%)

CALLS (1)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$28.00Sep 11Oct 1643.6%25.8%68.8%10543.9K
PUTS (2)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$28.00Sep 11Oct 1643.6%25.8%68.8%52067.5K
$27.50Sep 11Sep 1830.5%19.4%57.2%54064

Bull call spreads & bear put spreads with the best risk/reward ratios. Pay a debit upfront, defined max loss. 21 found (best R:R 4.26, avg 3.69)

BULL CALL (5)
BuySellExpiryDebitMax GainMax LossPOPR:RBE
$27.00$28.00Oct 16$0.39$0.61$0.3968%1.56$27.39
$28.00$29.00Oct 16$0.31$0.69$0.3150%2.23$28.31
$27.50$28.00Sep 18$0.26$0.24$0.2676%0.92$27.76
$29.00$30.00Sep 25$0.13$0.87$0.1323%6.69$29.13
$28.00$29.00Sep 18$0.36$0.64$0.3654%1.78$28.36
BEAR PUT (5)
BuySellExpiryDebitMax GainMax LossPOPR:RBE
$30.00$28.00Oct 16$0.38$1.62$0.3878%4.26$29.62
$29.00$28.00Oct 9$0.28$0.72$0.2867%2.57$28.72
$29.00$28.00Sep 18$0.59$0.41$0.5984%0.69$28.41
$27.00$26.00Oct 16$0.14$0.86$0.1432%6.14$26.86
$26.00$25.00Oct 16$0.14$0.86$0.1421%6.14$25.86

Bear call spreads & bull put spreads collecting premium. Receive credit upfront, profit if stock stays in range. 14 found (best R:R 0.98, avg 0.54)

BEAR CALL (5)
SellBuyExpiryCreditMax GainMax LossPOPR:RBE
$28.00$30.00Oct 9$0.99$0.99$1.0143%0.98$28.99
$30.00$32.00Oct 16$0.28$0.28$1.7278%0.16$30.28
$30.00$33.00Oct 23$0.31$0.31$2.6977%0.12$30.31
$28.00$30.00Oct 2$0.70$0.70$1.3053%0.54$28.70
$28.00$28.50Sep 11$0.37$0.37$0.1342%2.85$28.37
BULL PUT (4)
SellBuyExpiryCreditMax GainMax LossPOPR:RBE
$26.50$26.00Sep 18$0.17$0.17$0.3380%0.52$26.33
$25.00$23.00Oct 16$0.13$0.13$1.8787%0.07$24.87
$26.00$25.00Oct 16$0.14$0.14$0.8679%0.16$25.86
$27.00$26.00Oct 16$0.14$0.14$0.8668%0.16$26.86

Same strike, different expirations. Sell near-term, buy far-term. Profits from time decay differential. 2 found (avg debit $0.08, cheapest $0.06)

CALLS (1)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$28.00Sep 11Sep 18$0.0643.6%25.5%
PUTS (1)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$28.00Sep 11Sep 18$0.1143.6%25.5%

Buy call + put at the same strike and expiry. Profits from large moves in either direction. 13 found (cheapest 1.68% of stock, avg 5.06%)

StrikeExpiryCall$Put$TotalBE LowBE HighCost%
$27.50Sep 11$0.42$0.05$0.47$27.03$27.971.68%
$28.00Sep 11$0.46$0.31$0.77$27.23$28.772.76%
$27.50Sep 18$0.78$0.13$0.91$26.59$28.413.26%
$28.50Sep 11$0.09$0.85$0.94$27.56$29.443.37%
$28.00Sep 18$0.52$0.42$0.94$27.06$28.943.37%
$29.00Sep 18$0.16$1.01$1.17$27.83$30.174.19%
$27.00Sep 11$1.30$0.01$1.31$25.69$28.314.69%
$27.00Sep 18$1.34$0.10$1.44$25.56$28.445.16%
$30.00Oct 16$0.29$1.34$1.63$28.37$31.635.84%
$27.00Oct 16$1.38$0.48$1.86$25.14$28.866.66%

Buy OTM call + OTM put at different strikes. Cheaper than straddles, needs bigger move to profit. 36 found (cheapest 0.36% of stock, avg 1.93%)

Call KPut KExpiryCall$Put$TotalBE LowBE High
$30.00$26.00Sep 18$0.05$0.05$0.10$25.90$30.10
$29.00$27.50Sep 11$0.05$0.05$0.10$27.40$29.10
$29.50$27.50Sep 11$0.05$0.05$0.10$27.40$29.60
$28.50$27.50Sep 11$0.09$0.05$0.14$27.36$28.64
$30.00$27.00Sep 18$0.05$0.10$0.15$26.85$30.15
$30.00$25.00Sep 25$0.12$0.07$0.19$24.81$30.19
$30.00$27.50Sep 18$0.05$0.13$0.18$27.32$30.18
$29.50$26.00Sep 18$0.15$0.05$0.20$25.80$29.70
$29.00$26.00Sep 18$0.16$0.05$0.21$25.79$29.21
$29.50$27.00Sep 18$0.15$0.10$0.25$26.75$29.75

Sell OTM put spread + OTM call spread. Collect premium, profit if stock stays between breakevens. 3 found (best R:R 0.26, avg credit $0.42)

Put SpreadCall SpreadExpiryCreditMax LossPOPR:RBE LowBE High
23/2530/32Oct 16$0.41$1.5965%0.26$24.59$30.41
25/2630/32Oct 16$0.42$1.5857%0.27$25.58$30.42
26/2730/32Oct 16$0.42$1.5846%0.27$26.58$30.42

Buy lower + upper strikes, sell 2x middle strike. Low cost, max profit at the middle strike at expiry. 11 found (best R:R 11.50, cheapest $0.05)

CALLS (5)
LowMidHighExpiryDebitMax GainPOPR:R
$27.00$28.00$29.00Oct 16$0.08$0.9231%11.50
$23.50$24.00$24.50Sep 11$0.05$0.4520%9.00
$28.00$28.50$29.00Sep 11$0.33$0.1744%0.52
$27.00$27.50$28.00Sep 18$0.30$0.2030%0.67
$25.00$26.00$27.00Sep 11$0.23$0.771%3.35
PUTS (5)
LowMidHighExpiryDebitMax GainPOPR:R
$27.50$28.00$28.50Sep 11$0.28$0.2284%0.79
$27.00$27.50$28.00Sep 11$0.22$0.2844%1.27
$25.50$26.00$26.50Sep 18$0.17$0.3314%1.94
$26.50$27.00$27.50Sep 18$0.15$0.356%2.33
$27.00$27.50$28.00Sep 18$0.26$0.2432%0.92

Buy 1 option, sell 2 at a different strike (1:2 ratio). Can be entered for a credit. Unlimited risk on naked leg. 33 found (best net $-0.58, 17 credits)

CALLS (5)
Buy KSell KRatioExpiryNetMax Gain
$26.00$27.001:2Sep 18-$0.52$0.48
$26.00$27.001:2Sep 11-$0.62$0.38
$27.00$27.501:2Sep 18-$0.22$0.28
$27.00$28.001:2Oct 9-$0.47$0.53
$28.00$29.001:2Sep 25-$0.18$0.82
PUTS (5)
Buy KSell KRatioExpiryNetMax Gain
$30.00$28.001:2Oct 16-$0.58$1.42
$28.00$27.001:2Oct 16$0.00$1.00
$26.00$25.001:2Oct 16-$0.06$0.94
$27.00$26.001:2Oct 16-$0.20$0.80
$27.50$27.001:2Sep 18-$0.07$0.43

Sell OTM calls against 100 shares you own. Collect premium for income, capped upside at strike. Yield% = premium/stock price. 12 found (best yield 2.36%, avg 1.11%)

StrikeExpiryBidDeltaOTM%Yield%If Called%VolOI
$29.00Oct 16$0.660.373.9%2.36%6.27%5.3K66.4K
$28.00Oct 16$0.850.500.3%3.05%3.37%8143.8K
$28.00Oct 9$0.750.570.3%2.69%3.01%2064
$30.00Oct 16$0.260.227.5%0.93%8.42%13849.2K
$30.00Oct 23$0.210.237.5%0.75%8.24%20--
$30.00Oct 9$0.180.217.5%0.64%8.13%1--
$29.00Sep 25$0.170.233.9%0.61%4.51%211.1K
$30.00Oct 2$0.100.157.5%0.36%7.85%2--
$29.00Sep 18$0.120.233.9%0.43%4.34%1.2K83.9K
$28.00Sep 18$0.250.540.3%0.90%1.22%8.2K53.8K

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 16,710
Total Puts 21,184
Put/Call Ratio 1.27
Net Difference -4,474

Prior's Put/Call Breakdown

Total Calls 37,884
Total Puts 31,190
Put/Call Ratio 0.82
Net Difference 6,694

Prior 7-Day Put/Call Summary

Total Calls 165,477
Total Puts 303,440
Average Put/Call Ratio 2.31
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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