Tour v492
WBD
WARNER BROS DISCOVER Series A
$25.80 +0.02%
(8/4 19:22) ◀
|
Wednesday, August 5, 2026 (2:05pm)
January 2026
|
▶ (8/5 18:16)
◀ 8/5 14:09 ▶

Option Volume

Detail
ℹ
Current (08/05 2:05pm) 51,601
Calls: 14,134 (27%)
Puts: 37,467 (73%)
Prior (02/24) 102,808
Calls: 37,452 (36%)
Puts: 65,356 (64%)
Current vs Prior -49.81%
Calls: -62.26% (Calls)
Puts: -42.67% (Puts)
Prior 7-Day Total 469,164
Calls: 205,836 (44%)
Puts: 263,328 (56%)
Prior 7-Day Average 93,832
Calls: 29,405 (44%)
Puts: 37,618 (56%)
Current vs Prior 7-Day Avg -45.01%
Calls: -51.93%
Puts: -0.40%
Sentiment BEARISH

Dollar Volume

Detail
ℹ
Current (08/05 2:05pm) $4.24M
Calls: $872.0K (21%)
Puts: $3.37M (79%)
Prior (02/24) $2.71M
Calls: $1.77M (65%)
Puts: $942.9K (35%)
Current vs Prior +56.41%
Calls: -50.63%
Puts: +256.89%
Prior 7-Day Total $21.45M
Calls: $14.28M (67%)
Puts: $7.17M (33%)
Prior 7-Day Average $4.29M
Calls: $2.04M (67%)
Puts: $1.02M (33%)
Current vs Prior 7-Day Avg -1.22%
Calls: -57.24%
Puts: +228.46%
Sentiment BEARISH

Put/Call Ratio

Detail
ℹ
Current (08/05 2:05pm) 2.65
Prior (02/24) 1.75
Current vs Prior +51.91%
Prior 7-Day Average 1.56
Current vs Prior 7-Day Avg +70.34%
Sentiment BEARISH

Open Interest

Detail
ℹ
Current (08/05 2:05pm) 2,700,539
Calls: 912,123 (34%)
Puts: 1,788,416 (66%)
Prior (02/24) 1,359,758
Calls: 596,435 (44%)
Puts: 763,323 (56%)
Current vs Prior +98.60%
Prior 7-Day Total 7,055,379
Calls: 3,154,997 (37%)
Puts: 5,260,140 (63%)
Prior 7-Day Average 1,763,844
Calls: 630,999 (37%)
Puts: 1,052,028 (63%)
Current vs Prior 7-Day Avg +53.11%
Sentiment BULLISH

Expected Move

Detail
ℹ
Expiry (08/07) | Next (08/14)Expiry (08/21) | Next (09/18)
Current 2.95% | 4.88%8.37% | 6.51%
Prior 2.50% | 3.86%-- | --
Current vs Prior +17.79% | +26.47%-- | --
Prior 7-Day Avg 3.32% | 5.91%-- | --
Current vs 7-Day Avg -11.17% | -17.41%-- | --
Prior 7-Day Eod 2.50% | 3.86%-- | --
Current vs 7-Day Eod +17.79% | +26.47%-- | --
Sentiment BEARISH--

Relative Spread

Detail
ℹ
Expiry | Next
Current 110.47% | 279.89%
Calls: 159.65% | 332.00%
Puts: 61.29% | 227.78%
Prior 119.12% | 31.71%
Calls: 44.12% | 31.71%
Puts: 194.12% | 0.00%
Current vs Prior -7.26% | +782.66%
Prior 7-Day Avg 69.35% | 100.92%
Calls: 30.09% | 70.31%
Puts: 108.60% | 181.45%
Current vs 7-Day Avg +59.30% | +177.33%
Liquidity Expensive
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🤖 AI Insights

Strong bearish conviction with 79% of dollar volume in puts ($3.37M) vs calls ($872.0K). Elevated premium activity with dollar volume up 56% vs prior. Below-average activity with volume down 50% vs prior. Extreme bearish P/C ratio of 2.65 - heavy put buying.

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 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
Sentiment Timeline (Today)
TimeSmart MoneyRetailOverall
14:10BEARISHBEARISHBEARISH
14:05BEARISHBEARISHBEARISH

📈 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. -- found (avg $--, cheapest $--)

No options available for this category

In-the-money options with delta >0.50. Higher probability of profit, lower leverage. 46 found (avg delta 0.81, highest 1.00)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$21.00Aug 212.807.10$4.9586.9%--1.00104
$21.00Sep 182.846.85$4.8582.7%--1.00101
$21.00Aug 73.456.65$5.0563.4%180.9911
$22.00Aug 72.524.45$3.4955.3%40.9912
$23.00Aug 71.533.35$2.4474.6%20.984
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.00Aug 70.324.30$2.31172.3%--1.0027
$27.00Aug 70.522.11$1.32120.5%20.98431
$27.50Aug 70.524.00$2.26154.0%20.9730
$26.50Aug 70.152.35$1.25176.0%--0.9653
$30.00Sep 182.306.30$4.3093.0%--0.9225

Most actively traded options today. High liquidity = easy entry/exit. 63 active (total vol 5.0K, top 1.4K)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$29.00Sep 180.060.14$0.1080.0%1.4K0.1033.5K
$26.00Aug 70.050.20$0.13115.4%5270.37828
$27.00Sep 180.150.31$0.2369.6%3940.2415.9K
$26.00Aug 210.250.54$0.4072.5%3620.448.3K
$26.50Aug 70.020.03$0.0333.3%2100.102.2K
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$25.50Aug 70.080.10$0.0922.2%4820.272.0K
$25.00Aug 70.020.04$0.0366.7%4350.102.0K
$24.00Sep 180.030.15$0.09133.3%2010.123.6K
$25.00Sep 180.180.27$0.2339.1%1300.2826.7K
$25.00Aug 210.050.28$0.17135.3%820.2462.2K

Term structure inversion — near-term IV higher than far-term IV at the same strike. Signals expected near-term catalyst or volatility event. 22 strikes (avg 133.2%, max 287.2%)

CALLS (5)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$21.00Aug 7Sep 18113.0%33.6%236.1%18112
$30.00Aug 7Sep 1890.9%29.6%207.2%--43.3K
$29.00Aug 7Sep 1877.6%25.6%203.3%1.4K33.6K
$23.00Aug 7Sep 1874.8%25.1%197.4%240
$22.00Aug 7Sep 1890.1%33.9%165.6%4274
PUTS (5)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$24.00Aug 7Sep 1866.7%17.2%287.2%2024.2K
$21.00Aug 7Sep 18113.0%33.6%236.1%5219.1K
$23.00Aug 7Sep 1874.8%25.1%197.4%72.3K
$22.00Aug 7Sep 1890.1%33.9%165.6%535.9K
$25.00Aug 7Sep 1833.7%14.5%132.7%56528.7K

Bull call spreads & bear put spreads with the best risk/reward ratios. Pay a debit upfront, defined max loss. 20 found (best R:R 8.09, avg 2.13)

BULL CALL (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$28.00$29.00Sep 18$0.11$0.89$0.118.09$28.11
$26.00$26.50Aug 7$0.10$0.40$0.104.00$26.10
$26.00$27.00Sep 18$0.29$0.71$0.292.45$26.29
$26.00$26.50Aug 14$0.18$0.32$0.181.78$26.18
$24.00$25.00Sep 18$0.36$0.64$0.361.78$24.36
BEAR PUT (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$25.00$24.00Sep 18$0.14$0.86$0.146.14$24.86
$22.00$21.00Aug 21$0.18$0.82$0.184.56$21.82
$25.50$25.00Aug 14$0.13$0.37$0.132.85$25.37
$26.00$25.50Aug 7$0.20$0.30$0.201.50$25.80
$26.00$25.00Sep 18$0.45$0.55$0.451.22$25.55

Bear call spreads & bull put spreads collecting premium. Receive credit upfront, profit if stock stays in range. 28 found (best R:R 9.00, avg 1.75)

BEAR CALL (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$24.00$25.00Aug 28$0.90$0.90$0.109.00$24.90
$27.00$28.00Aug 28$0.84$0.84$0.165.25$27.84
$21.00$22.00Sep 18$0.75$0.75$0.253.00$21.75
$27.00$29.00Sep 4$1.43$1.43$0.572.51$28.43
$23.00$24.00Sep 4$0.71$0.71$0.292.45$23.71
BULL PUT (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$28.00$27.00Sep 18$0.83$0.83$0.174.88$27.17
$26.00$25.50Aug 21$0.34$0.34$0.162.12$25.66
$28.00$26.00Sep 4$1.30$1.30$0.701.86$26.70
$27.00$26.00Sep 18$0.65$0.65$0.351.86$26.35
$27.00$26.50Aug 21$0.32$0.32$0.181.78$26.68

Same strike, different expirations. Sell near-term, buy far-term. Profits from time decay differential. 14 found (avg debit $0.43, cheapest $0.06)

CALLS (5)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$27.00Aug 7Aug 14$0.0637.9%25.7%
$26.50Aug 7Aug 14$0.0726.4%20.1%
$26.00Aug 7Aug 14$0.1525.2%21.8%
$25.50Aug 7Aug 14$0.3728.1%20.2%
$24.00Aug 21Aug 28$0.3725.4%43.9%
PUTS (5)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$25.50Aug 7Aug 14$0.1028.1%20.2%
$26.00Aug 7Aug 14$0.1325.2%21.8%
$24.50Aug 7Aug 21$0.3246.4%39.6%
$28.00Aug 7Aug 21$0.3857.8%30.6%
$27.00Aug 7Aug 14$0.5937.9%25.7%

Buy call + put at the same strike and expiry. Profits from large moves in either direction. 38 found (cheapest 1.63% of stock, avg 9.07%)

StrikeExpiryCall$Put$TotalBE LowBE HighCost%
$26.00Aug 7$0.13$0.29$0.42$25.58$26.421.63%
$25.50Aug 7$0.47$0.09$0.56$24.94$26.062.17%
$26.00Aug 14$0.28$0.42$0.70$25.30$26.702.71%
$26.00Aug 21$0.40$0.57$0.97$25.03$26.973.76%
$25.50Aug 14$0.84$0.19$1.03$24.47$26.533.99%
$25.00Aug 21$0.87$0.17$1.04$23.96$26.044.03%
$26.00Sep 18$0.52$0.68$1.20$24.80$27.204.65%
$25.00Sep 18$1.00$0.23$1.23$23.77$26.234.77%
$26.50Aug 7$0.03$1.25$1.28$25.22$27.784.96%
$27.00Aug 7$0.02$1.32$1.34$25.66$28.345.19%

Buy OTM call + OTM put at different strikes. Cheaper than straddles, needs bigger move to profit. 91 found (cheapest 0.19% of stock, avg 2.16%)

Call KPut KExpiryCall$Put$TotalBE LowBE High
$27.00$25.00Aug 7$0.02$0.03$0.05$24.95$27.05
$27.00$24.50Aug 7$0.02$0.03$0.05$24.45$27.05
$26.50$25.00Aug 7$0.03$0.03$0.06$24.94$26.56
$26.50$24.50Aug 7$0.03$0.03$0.06$24.44$26.56
$27.00$24.00Aug 7$0.02$0.04$0.06$23.94$27.06
$27.50$25.00Aug 7$0.03$0.03$0.06$24.94$27.56
$27.50$24.50Aug 7$0.03$0.03$0.06$24.44$27.56
$26.50$24.00Aug 7$0.03$0.04$0.07$23.93$26.57
$27.50$24.00Aug 7$0.03$0.04$0.07$23.93$27.57
$28.00$24.00Aug 14$0.04$0.05$0.09$23.91$28.09

Sell OTM put spread + OTM call spread. Collect premium, profit if stock stays between breakevens. 7 found (best R:R 3.17, avg credit $0.47)

Put SpreadCall SpreadExpiryCreditMax LossR:RBE LowBE High
26/2728/29Sep 18$0.76$0.243.17$26.24$28.76
25/2630/30Aug 14$0.34$0.162.12$25.16$29.84
21/2228/28Aug 21$0.64$0.361.78$21.36$28.14
25/2626/26Aug 14$0.31$0.191.63$25.19$26.31
25/2628/29Sep 18$0.56$0.441.27$25.44$28.56
24/2526/27Sep 18$0.43$0.570.75$24.57$26.43
24/2528/29Sep 18$0.25$0.750.33$24.75$28.25

Buy lower + upper strikes, sell 2x middle strike. Low cost, max profit at the middle strike at expiry. 24 found (best R:R 9.00, cheapest $0.06)

CALLS (5)
LowMidHighExpiryDebitMax GainR:R
$28.00$29.00$30.00Sep 18$0.10$0.909.00
$26.00$26.50$27.00Aug 7$0.09$0.414.56
$23.00$24.00$25.00Aug 28$0.18$0.824.56
$25.00$26.00$27.00Sep 18$0.19$0.814.26
$26.00$27.00$28.00Sep 18$0.27$0.732.70
PUTS (5)
LowMidHighExpiryDebitMax GainR:R
$24.50$25.00$25.50Aug 7$0.06$0.447.33
$27.00$28.00$29.00Sep 18$0.14$0.866.14
$23.00$24.00$25.00Sep 18$0.15$0.855.67
$26.00$27.00$28.00Sep 18$0.18$0.824.56
$25.00$25.50$26.00Aug 14$0.10$0.404.00

Buy 1 option, sell 2 at a different strike (1:2 ratio). Can be entered for a credit. Unlimited risk on naked leg. 42 found (best net $-1.31, 21 credits)

CALLS (5)
Buy KSell KRatioExpiryNetMax Gain
$29.00$30.001:2Aug 7$0.00$1.00
$27.00$28.001:2Aug 14$0.00$1.00
$29.00$30.001:2Sep 18-$0.08$0.92
$27.00$28.001:2Sep 18-$0.19$0.81
$26.50$27.001:2Aug 14-$0.06$0.44
PUTS (5)
Buy KSell KRatioExpiryNetMax Gain
$25.00$21.001:2Aug 28-$1.31$2.69
$28.00$26.001:2Sep 4-$0.12$1.88
$22.00$21.001:2Aug 14$0.00$1.00
$24.00$23.001:2Aug 21$0.00$1.00
$24.00$23.001:2Sep 18-$0.11$0.89

Sell OTM calls against 100 shares you own. Collect premium for income, capped upside at strike. Yield% = premium/stock price. 10 found (best yield 1.55%, avg 0.57%)

StrikeExpiryBidDeltaOTM%Yield%If Called%VolOI
$26.00Sep 18$0.400.450.8%1.55%2.33%4436
$26.00Aug 21$0.250.440.8%0.97%1.74%3628.3K
$26.00Aug 14$0.170.430.8%0.66%1.43%721
$27.00Sep 18$0.150.244.7%0.58%5.23%39415.9K
$28.00Sep 18$0.130.188.5%0.50%9.03%4030.7K
$27.00Aug 21$0.100.214.7%0.39%5.04%1014.7K
$27.50Aug 21$0.080.306.6%0.31%6.90%--219
$28.00Aug 21$0.070.108.5%0.27%8.80%1117.5K
$28.00Aug 28$0.060.198.5%0.23%8.76%--52
$29.00Sep 18$0.060.1012.4%0.23%12.64%1.4K33.5K

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 14,134
Total Puts 37,467
Put/Call Ratio 2.65
Net Difference -23,333

Prior's Put/Call Breakdown

Total Calls 37,452
Total Puts 65,356
Put/Call Ratio 1.75
Net Difference -27,904

Prior 7-Day Put/Call Summary

Total Calls 205,836
Total Puts 263,328
Average Put/Call Ratio 1.56
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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