Tour v528
WBD
WARNER BROS DISCOVER Series A
$28.03 -0.25%
$28.00 (-0.11%)🌙
as of 09/15 07:24 PM
(9/11 19:11) ◀
|
Tuesday, September 15, 2026 (7:24pm)
January 2026
|
▶ (9/18 19:14)
◀ 9/15 19:24 ▶

Option Volume

Detail
ℹ
Current (09/15) 44,104
Calls: 13,060 (30%)
Puts: 31,044 (70%)
Prior (09/11) 70,303
Calls: 57,825 (82%)
Puts: 12,478 (18%)
Current vs Prior -37.27%
Calls: -77.41% (Calls)
Puts: +148.79% (Puts)
Prior 7-Day Total 459,589
Calls: 236,567 (51%)
Puts: 223,022 (49%)
Prior 7-Day Average 65,655
Calls: 33,795 (51%)
Puts: 31,860 (49%)
Current vs Prior 7-Day Avg -32.83%
Calls: -61.36%
Puts: -2.56%
Sentiment BEARISH

Dollar Volume

Detail
ℹ
Current (09/15) $3.21M
Calls: $607.1K (19%)
Puts: $2.60M (81%)
Prior (09/11) $6.54M
Calls: $5.26M (80%)
Puts: $1.29M (20%)
Current vs Prior -51.00%
Calls: -88.45%
Puts: +101.84%
Prior 7-Day Total $31.65M
Calls: $18.27M (58%)
Puts: $13.37M (42%)
Prior 7-Day Average $4.52M
Calls: $2.61M (58%)
Puts: $1.91M (42%)
Current vs Prior 7-Day Avg -29.09%
Calls: -76.74%
Puts: +36.01%
Sentiment BEARISH

Put/Call Ratio

Detail
ℹ
Current (09/15) 2.38
Prior (09/11) 0.22
Current vs Prior +1001.55%
Prior 7-Day Average 1.15
Current vs Prior 7-Day Avg +106.19%
Sentiment BEARISH

Open Interest

Detail
ℹ
Current (09/15) 1,269,604
Calls: 627,309 (49%)
Puts: 642,295 (51%)
Prior (09/11) 1,693,889
Calls: 640,139 (38%)
Puts: 1,053,750 (62%)
Current vs Prior -25.05%
Prior 7-Day Total 10,192,004
Calls: 3,858,136 (38%)
Puts: 6,333,868 (62%)
Prior 7-Day Average 1,456,000
Calls: 551,162 (38%)
Puts: 904,838 (62%)
Current vs Prior 7-Day Avg -12.80%
Sentiment BULLISH

Expected Move

Detail
ℹ
Expiry (09/18) | Next (09/25)Expiry (09/18) | Next (10/16)
Current 2.50% | 6.71%2.50% | 8.99%
Prior 5.03% | 10.45%5.03% | 10.02%
Current vs Prior -50.34% | -35.81%-50.34% | -10.29%
Prior 7-Day Avg 3.94% | 6.78%5.99% | 10.00%
Current vs 7-Day Avg -36.68% | -1.02%-58.29% | -10.05%
Prior 7-Day Eod 5.03% | 10.45%5.03% | 10.02%
Current vs 7-Day Eod -50.34% | -35.81%-50.34% | -10.29%
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

Strong bearish conviction with 81% of dollar volume in puts ($2.60M) vs calls ($607.1K). Light premium activity with dollar volume down 51% vs prior. Extreme bearish P/C ratio of 2.38 - heavy put buying. P/C ratio rising 1002% - 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 BULLISH
Current BEARISH
Prior BULLISH
7-Day Avg NEUTRAL
Current BEARISH
Prior BULLISH
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 8.8%, best 8.8%)

CALLS (1)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$29.00Oct 160.550.60$0.578.8%1.5K0.37112.9K
PUTS (0)
No puts meet the criteria

Affordable options under $1.00 per contract. Great for defined-risk strategies with minimal capital. 4 found (avg $0.58, cheapest $0.28)

CALLS (3)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.00Sep 180.250.30$0.2817.9%2.0K0.5131.8K
$29.00Oct 160.550.60$0.578.8%1.5K0.37112.9K
$29.00Oct 230.570.68$0.6317.5%500.37--
PUTS (1)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.00Oct 160.800.90$0.8511.8%11.3K0.4764.4K

In-the-money options with delta >0.50. Higher probability of profit, lower leverage. 15 found (avg delta 0.81, highest 1.00)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$23.50Sep 183.805.80$4.8041.7%11.00--
$24.00Sep 182.555.55$4.0574.1%21.0011
$24.50Sep 183.054.40$3.7336.2%11.001
$25.00Sep 182.733.65$3.1928.8%261.00--
$27.50Sep 180.330.97$0.6598.5%310.836
PUTS (4)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$31.00Sep 181.335.05$3.19116.6%10.99--
$31.00Oct 20.995.05$3.02134.4%300.97--
$30.00Sep 181.414.10$2.7697.5%10.93--
$28.00Sep 250.010.91$0.46195.7%300.5126

Most actively traded options today. High liquidity = easy entry/exit. 57 active (total vol 24.6K, top 11.3K)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.00Sep 180.250.30$0.2817.9%2.0K0.5131.8K
$29.00Oct 160.550.60$0.578.8%1.5K0.37112.9K
$31.00Sep 180.000.01$0.01100.0%1.5K0.0130.0K
$30.00Oct 160.200.28$0.2433.3%1.3K0.2149.3K
$30.00Sep 180.020.05$0.0475.0%1.0K0.0768.9K
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.00Oct 160.800.90$0.8511.8%11.3K0.4764.4K
$26.00Oct 160.150.31$0.2369.6%1.5K0.1732.5K
$27.00Sep 250.080.26$0.17105.9%3660.2235
$26.00Sep 180.000.02$0.01200.0%1100.0325.1K
$23.00Oct 300.030.61$0.32181.2%970.1227

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 55.1%, max 120.8%)

CALLS (1)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$28.50Sep 18Sep 2534.9%24.6%42.2%64666
PUTS (2)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$27.00Sep 18Oct 1663.7%28.9%120.8%2622.2K
$27.50Sep 18Sep 2522.6%22.1%2.3%612.1K

Bull call spreads & bear put spreads with the best risk/reward ratios. Pay a debit upfront, defined max loss. 20 found (best R:R 1.33, avg 2.27)

BULL CALL (5)
BuySellExpiryDebitMax GainMax LossPOPR:RBE
$24.00$24.50Sep 18$0.32$0.18$0.32100%0.56$24.32
$27.00$27.50Sep 18$0.24$0.26$0.2475%1.08$27.24
$28.00$29.00Oct 2$0.29$0.71$0.2949%2.45$28.29
$28.00$28.50Sep 18$0.12$0.38$0.1251%3.17$28.12
$28.00$29.00Oct 9$0.35$0.65$0.3551%1.86$28.35
BEAR PUT (5)
BuySellExpiryDebitMax GainMax LossPOPR:RBE
$31.00$30.00Sep 18$0.43$0.57$0.4399%1.33$30.57
$28.00$27.00Oct 16$0.38$0.62$0.3847%1.63$27.62
$28.00$27.50Sep 25$0.24$0.26$0.2451%1.08$27.76
$27.00$26.00Oct 16$0.24$0.76$0.2430%3.17$26.76
$28.00$27.50Sep 18$0.20$0.30$0.2049%1.50$27.80

Bear call spreads & bull put spreads collecting premium. Receive credit upfront, profit if stock stays in range. 12 found (best R:R 0.24, avg 0.46)

BEAR CALL (5)
SellBuyExpiryCreditMax GainMax LossPOPR:RBE
$29.00$33.00Oct 30$0.78$0.78$3.2262%0.24$29.78
$30.00$31.00Oct 16$0.21$0.21$0.7979%0.27$30.21
$29.00$30.00Oct 16$0.33$0.33$0.6763%0.49$29.33
$29.00$30.00Oct 9$0.26$0.26$0.7467%0.35$29.26
$29.00$30.00Oct 2$0.21$0.21$0.7970%0.27$29.21
BULL PUT (5)
SellBuyExpiryCreditMax GainMax LossPOPR:RBE
$24.00$23.00Oct 30$0.43$0.43$0.5780%0.75$23.57
$27.00$26.00Sep 18$0.24$0.24$0.7675%0.32$26.76
$28.00$27.50Sep 18$0.20$0.20$0.3051%0.67$27.80
$27.00$26.00Oct 16$0.24$0.24$0.7670%0.32$26.76
$28.00$27.50Sep 25$0.24$0.24$0.2649%0.92$27.76

Same strike, different expirations. Sell near-term, buy far-term. Profits from time decay differential. 2 found (avg debit $0.17, cheapest $0.15)

CALLS (1)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$28.00Sep 18Sep 25$0.1526.1%24.8%
PUTS (1)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$28.00Sep 18Sep 25$0.2026.1%24.8%

Buy call + put at the same strike and expiry. Profits from large moves in either direction. 8 found (cheapest 1.93% of stock, avg 5.46%)

StrikeExpiryCall$Put$TotalBE LowBE HighCost%
$28.00Sep 18$0.28$0.26$0.54$27.46$28.541.93%
$27.50Sep 18$0.65$0.06$0.71$26.79$28.212.53%
$28.00Sep 25$0.43$0.46$0.89$27.11$28.893.18%
$27.00Sep 18$0.89$0.25$1.14$25.86$28.144.07%
$28.00Oct 9$0.78$0.71$1.49$26.51$29.495.32%
$28.00Oct 16$1.06$0.85$1.91$26.09$29.916.81%
$26.00Oct 16$2.54$0.23$2.77$23.23$28.779.88%
$30.00Sep 18$0.04$2.76$2.80$27.20$32.809.99%

Buy OTM call + OTM put at different strikes. Cheaper than straddles, needs bigger move to profit. 43 found (cheapest 0.36% of stock, avg 2.10%)

Call KPut KExpiryCall$Put$TotalBE LowBE High
$29.50$27.50Sep 18$0.04$0.06$0.10$27.40$29.60
$30.00$27.50Sep 18$0.04$0.06$0.10$27.40$30.10
$29.00$27.50Sep 18$0.06$0.06$0.12$27.38$29.12
$30.00$26.00Sep 25$0.06$0.16$0.22$25.78$30.22
$28.50$27.50Sep 18$0.16$0.06$0.22$27.28$28.72
$30.00$27.00Sep 25$0.06$0.17$0.23$26.77$30.23
$29.50$27.00Sep 18$0.04$0.25$0.29$26.71$29.79
$29.00$27.00Sep 18$0.06$0.25$0.31$26.69$29.31
$30.00$27.00Sep 18$0.04$0.25$0.29$26.71$30.29
$30.00$27.50Sep 25$0.06$0.22$0.28$27.22$30.28

Sell OTM put spread + OTM call spread. Collect premium, profit if stock stays between breakevens. 2 found (best R:R 0.82, avg credit $0.40)

Put SpreadCall SpreadExpiryCreditMax LossPOPR:RBE LowBE High
26/2730/31Oct 16$0.45$0.5549%0.82$26.55$30.45
26/2728/29Sep 18$0.34$0.6646%0.52$26.66$28.84

Buy lower + upper strikes, sell 2x middle strike. Low cost, max profit at the middle strike at expiry. 14 found (best R:R 11.50, cheapest $0.08)

CALLS (5)
LowMidHighExpiryDebitMax GainPOPR:R
$28.00$29.00$30.00Oct 2$0.08$0.9234%11.50
$28.00$29.00$30.00Oct 9$0.09$0.9134%10.11
$29.00$30.00$31.00Oct 16$0.12$0.8833%7.33
$28.00$29.00$30.00Oct 16$0.16$0.8433%5.25
$28.50$29.00$29.50Sep 18$0.08$0.4221%5.25
PUTS (4)
LowMidHighExpiryDebitMax GainPOPR:R
$26.00$27.00$28.00Oct 16$0.14$0.8630%6.14
$25.00$26.00$27.00Oct 16$0.17$0.8319%4.88
$27.00$27.50$28.00Sep 25$0.19$0.3129%1.63
$27.00$27.50$28.00Sep 18$0.39$0.1124%0.28

Buy 1 option, sell 2 at a different strike (1:2 ratio). Can be entered for a credit. Unlimited risk on naked leg. 24 found (best net $-0.08, 13 credits)

CALLS (5)
Buy KSell KRatioExpiryNetMax Gain
$28.00$29.001:2Oct 16-$0.08$0.92
$28.00$29.001:2Oct 9-$0.08$0.92
$28.00$29.001:2Oct 2-$0.06$0.94
$30.00$30.501:2Oct 2-$0.08$0.42
$27.00$27.501:2Sep 18-$0.41$0.09
PUTS (5)
Buy KSell KRatioExpiryNetMax Gain
$28.00$27.001:2Oct 16-$0.09$0.91
$25.00$23.001:2Oct 16-$0.08$1.92
$26.00$25.001:2Oct 16-$0.09$0.91
$27.00$26.001:2Sep 25-$0.15$0.85
$27.50$27.001:2Sep 25-$0.12$0.38

Sell OTM calls against 100 shares you own. Collect premium for income, capped upside at strike. Yield% = premium/stock price. 10 found (best yield 2.14%, avg 1.01%)

StrikeExpiryBidDeltaOTM%Yield%If Called%VolOI
$29.00Oct 30$0.600.383.5%2.14%5.60%37--
$29.00Oct 23$0.570.373.5%2.03%5.49%50--
$29.00Oct 16$0.550.373.5%1.96%5.42%1.5K112.9K
$29.00Oct 9$0.300.333.5%1.07%4.53%242
$30.00Oct 16$0.200.217.0%0.71%7.74%1.3K49.3K
$29.00Oct 2$0.200.303.5%0.71%4.17%283358
$30.00Oct 9$0.120.177.0%0.43%7.46%1471
$30.00Oct 2$0.100.157.0%0.36%7.38%84576
$29.00Sep 25$0.100.273.5%0.36%3.82%9561.1K
$28.50Sep 18$0.080.291.7%0.29%1.96%52663

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 13,060
Total Puts 31,044
Put/Call Ratio 2.38
Net Difference -17,984

Prior's Put/Call Breakdown

Total Calls 57,825
Total Puts 12,478
Put/Call Ratio 0.22
Net Difference 45,347

Prior 7-Day Put/Call Summary

Total Calls 236,567
Total Puts 223,022
Average Put/Call Ratio 1.15
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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