Tour v492
WBD
WARNER BROS DISCOVER Series A
$26.40 +1.66%
$26.29 (-0.42%)🌙
as of 08/06 06:09 PM
(8/6 16:01) ◀
|
Thursday, August 6, 2026 (6:09pm)
January 2026
|
▶
◀ 8/6 18:09

Option Volume

Detail
ℹ
Current (08/06) 138,326
Calls: 78,869 (57%)
Puts: 59,457 (43%)
Prior (08/05) 103,860
Calls: 29,520 (28%)
Puts: 74,340 (72%)
Current vs Prior +33.19%
Calls: +167.17% (Calls)
Puts: -20.02% (Puts)
Prior 7-Day Total 538,718
Calls: 141,321 (26%)
Puts: 397,397 (74%)
Prior 7-Day Average 76,959
Calls: 20,188 (26%)
Puts: 56,771 (74%)
Current vs Prior 7-Day Avg +79.74%
Calls: +290.66%
Puts: +4.73%
Sentiment BULLISH

Dollar Volume

Detail
ℹ
Current (08/06) $7.63M
Calls: $4.36M (57%)
Puts: $3.27M (43%)
Prior (08/05) $7.85M
Calls: $1.66M (21%)
Puts: $6.19M (79%)
Current vs Prior -2.85%
Calls: +163.25%
Puts: -47.27%
Prior 7-Day Total $54.00M
Calls: $10.47M (19%)
Puts: $43.53M (81%)
Prior 7-Day Average $7.71M
Calls: $1.50M (19%)
Puts: $6.22M (81%)
Current vs Prior 7-Day Avg -1.16%
Calls: +191.39%
Puts: -47.48%
Sentiment BULLISH

Put/Call Ratio

Detail
ℹ
Current (08/06) 0.75
Prior (08/05) 2.52
Current vs Prior -70.06%
Prior 7-Day Average 3.03
Current vs Prior 7-Day Avg -75.09%
Sentiment NEUTRAL

Open Interest

Detail
ℹ
Current (08/06) 2,741,776
Calls: 932,442 (34%)
Puts: 1,809,334 (66%)
Prior (08/05) 1,677,247
Calls: 458,465 (27%)
Puts: 1,218,782 (73%)
Current vs Prior +63.47%
Prior 7-Day Total 11,616,274
Calls: 3,713,458 (32%)
Puts: 7,902,816 (68%)
Prior 7-Day Average 1,659,467
Calls: 530,494 (32%)
Puts: 1,128,973 (68%)
Current vs Prior 7-Day Avg +65.22%
Sentiment BULLISH

Expected Move

Detail
ℹ
Expiry (08/07) | Next (08/14)Expiry (08/21) | Next (09/18)
Current 2.01% | 2.88%3.26% | 7.39%
Prior 4.31% | 19.87%11.47% | 5.62%
Current vs Prior -53.45% | -85.51%-71.61% | +31.39%
Prior 7-Day Avg 3.86% | 8.71%9.63% | 7.97%
Current vs 7-Day Avg -47.98% | -66.96%-66.18% | -7.28%
Prior 7-Day Eod 4.31% | 19.87%11.47% | 5.62%
Current vs 7-Day Eod -53.45% | -85.51%-71.61% | +31.39%
Sentiment BULLISHBULLISH

Relative Spread

Detail
ℹ
Expiry | Next
Current 59.52% | 103.57%
Calls: 59.52% | 103.57%
Puts: -- | --
Prior 110.47% | 279.89%
Calls: 159.65% | 332.00%
Puts: 61.29% | 227.78%
Current vs Prior -46.12% | -63.00%
Prior 7-Day Avg 44.98% | 121.70%
Calls: 43.71% | 83.43%
Puts: 46.26% | 159.98%
Current vs 7-Day Avg +32.31% | -14.90%
Liquidity Expensive
+
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🤖 AI Insights

Volume explosion - 80% above 7-day average (138,326 vs avg 76,959). P/C ratio dropping 70% - sentiment shifting bullish. Put-heavy open interest (1,809,334 puts vs 932,442 calls) suggests hedging or bearish positioning. Rising open interest (up 63%) indicates new positions being established.

Smart Money BULLISH
Retail Flow BULLISH
Overall BULLISH
Dollar Volume
Option Volume
Put/Call Ratio
Open Interest
Expected Move
Current BULLISH
Prior BEARISH
7-Day Avg BEARISH
Current BULLISH
Prior BEARISH
7-Day Avg NEUTRAL
Current NEUTRAL
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 8.0%, best 8.0%)

CALLS (1)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.00Sep 180.240.26$0.258.0%12.5K0.2430.7K
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 $0.25, cheapest $0.25)

CALLS (1)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.00Sep 180.240.26$0.258.0%12.5K0.2430.7K
PUTS (0)
No puts meet the criteria

In-the-money options with delta >0.50. Higher probability of profit, lower leverage. 43 found (avg delta 0.86, highest 1.01)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$22.00Aug 212.676.50$4.5983.4%--1.0136
$23.00Aug 211.705.50$3.60105.6%11.003
$22.00Aug 72.806.50$4.6579.6%81.0014
$22.50Aug 72.656.00$4.3377.4%91.004
$23.00Aug 71.805.50$3.65101.4%41.002
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$26.00Aug 70.000.05$0.03166.7%1701.003.4K
$27.00Aug 210.510.85$0.6850.0%51.005.9K
$28.00Aug 210.013.75$1.88198.9%--1.003.1K
$30.00Sep 181.715.65$3.68107.1%--1.0025
$28.50Aug 70.354.15$2.25168.9%10.962

Most actively traded options today. High liquidity = easy entry/exit. 69 active (total vol 38.3K, top 12.5K)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.00Sep 180.240.26$0.258.0%12.5K0.2430.7K
$29.00Aug 210.030.07$0.0580.0%5.8K0.08136.7K
$27.00Sep 180.250.55$0.4075.0%3.5K0.4115.9K
$27.50Aug 210.080.18$0.1376.9%1.3K0.27219
$28.00Aug 210.080.12$0.1040.0%1.3K0.18117.5K
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$26.00Aug 210.060.26$0.16125.0%5.0K0.257.0K
$22.00Sep 180.000.07$0.04175.0%5.0K0.0335.9K
$26.00Aug 70.000.05$0.03166.7%1701.003.4K
$25.00Sep 180.050.15$0.10100.0%1540.1326.8K
$26.50Aug 210.010.41$0.21190.5%930.4823

Term structure inversion — near-term IV higher than far-term IV at the same strike. Signals expected near-term catalyst or volatility event. 20 strikes (avg 303.5%, max 663.5%)

CALLS (5)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$31.00Aug 7Sep 18164.6%21.6%663.5%--29.2K
$30.00Aug 7Sep 18126.4%24.0%426.2%1343.3K
$29.00Aug 7Sep 18111.5%21.4%421.6%2933.6K
$29.50Aug 14Aug 21140.4%27.7%406.2%115
$31.50Aug 7Aug 21175.8%35.1%400.9%--70
PUTS (5)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$22.00Aug 7Sep 18134.0%30.6%337.9%5.0K35.9K
$27.00Aug 7Sep 1860.9%15.7%288.0%--15.7K
$26.50Aug 7Aug 2155.5%14.8%275.6%12376
$23.00Aug 7Sep 18100.2%26.9%273.3%--2.3K
$24.00Aug 7Sep 1866.8%22.0%203.2%564.3K

Bull call spreads & bear put spreads with the best risk/reward ratios. Pay a debit upfront, defined max loss. 21 found (best R:R 16.39, avg 2.42)

BULL CALL (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$27.00$31.00Sep 11$0.23$3.77$0.2316.39$27.23
$28.00$29.00Sep 18$0.13$0.87$0.136.69$28.13
$27.00$28.00Sep 18$0.15$0.85$0.155.67$27.15
$26.50$27.00Aug 14$0.12$0.38$0.123.17$26.62
$24.00$24.50Aug 7$0.16$0.34$0.162.12$24.16
BEAR PUT (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$26.00$25.00Sep 18$0.23$0.77$0.233.35$25.77
$26.50$26.00Aug 7$0.22$0.28$0.221.27$26.28
$26.00$25.00Aug 28$0.46$0.54$0.461.17$25.54
$27.00$26.00Aug 28$0.46$0.54$0.461.17$26.54
$27.00$26.00Sep 18$0.57$0.43$0.570.75$26.43

Bear call spreads & bull put spreads collecting premium. Receive credit upfront, profit if stock stays in range. 28 found (best R:R 7.33, avg 1.52)

BEAR CALL (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$26.00$26.50Aug 14$0.37$0.37$0.132.85$26.37
$25.00$26.00Sep 18$0.73$0.73$0.272.70$25.73
$27.00$28.00Aug 28$0.71$0.71$0.292.45$27.71
$24.50$25.00Aug 7$0.35$0.35$0.152.33$24.85
$26.00$27.00Sep 11$0.70$0.70$0.302.33$26.70
BULL PUT (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$28.00$26.00Sep 4$1.76$1.76$0.247.33$26.24
$28.50$27.50Aug 7$0.67$0.67$0.332.03$27.83
$27.50$27.00Aug 7$0.33$0.33$0.171.94$27.17
$24.50$24.00Aug 21$0.30$0.30$0.201.50$24.20
$27.00$26.00Sep 18$0.57$0.57$0.431.33$26.43

Same strike, different expirations. Sell near-term, buy far-term. Profits from time decay differential. 9 found (avg debit $0.20, cheapest $0.07)

CALLS (5)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$26.50Aug 7Aug 14$0.0855.5%15.3%
$27.50Aug 7Aug 14$0.0866.4%27.5%
$26.00Aug 7Aug 14$0.27-999.0%19.6%
$28.50Aug 7Aug 21$0.3496.7%41.5%
$25.50Aug 7Aug 14$0.6013.9%23.2%
PUTS (4)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$25.50Aug 7Aug 14$0.0713.9%23.2%
$27.00Aug 7Aug 14$0.1060.9%16.7%
$26.00Aug 7Aug 14$0.12-999.0%19.6%
$28.00Aug 21Sep 4$0.1219.9%48.6%

Buy call + put at the same strike and expiry. Profits from large moves in either direction. 39 found (cheapest 1.17% of stock, avg 8.22%)

StrikeExpiryCall$Put$TotalBE LowBE HighCost%
$26.00Aug 7$0.28$0.03$0.31$25.69$26.311.17%
$26.50Aug 7$0.10$0.25$0.35$26.15$26.851.33%
$26.50Aug 14$0.18$0.21$0.39$26.11$26.891.48%
$26.00Aug 14$0.55$0.15$0.70$25.30$26.702.65%
$25.50Aug 7$0.79$0.01$0.80$24.70$26.303.03%
$26.00Aug 21$0.65$0.16$0.81$25.19$26.813.07%
$27.00Aug 21$0.22$0.68$0.90$26.10$27.903.41%
$26.50Aug 21$0.70$0.21$0.91$25.59$27.413.45%
$27.00Aug 7$0.03$1.25$1.28$25.72$28.284.85%
$27.00Sep 18$0.40$0.90$1.30$25.70$28.304.92%

Buy OTM call + OTM put at different strikes. Cheaper than straddles, needs bigger move to profit. 68 found (cheapest 0.15% of stock, avg 1.55%)

Call KPut KExpiryCall$Put$TotalBE LowBE High
$27.00$25.50Aug 7$0.03$0.01$0.04$25.46$27.04
$28.00$25.00Aug 14$0.05$0.05$0.10$24.90$28.10
$26.50$25.50Aug 7$0.10$0.01$0.11$25.39$26.61
$27.00$25.00Aug 14$0.06$0.05$0.11$24.89$27.11
$28.00$25.50Aug 14$0.05$0.08$0.13$25.37$28.13
$27.00$25.50Aug 14$0.06$0.08$0.14$25.36$27.14
$27.50$25.00Aug 14$0.09$0.05$0.14$24.86$27.64
$29.00$25.50Aug 21$0.05$0.09$0.14$25.36$29.14
$30.00$23.00Sep 18$0.08$0.06$0.14$22.86$30.14
$30.00$24.00Sep 18$0.08$0.08$0.16$23.84$30.16

Sell OTM put spread + OTM call spread. Collect premium, profit if stock stays between breakevens. 3 found (best R:R 2.33, avg credit $0.48)

Put SpreadCall SpreadExpiryCreditMax LossR:RBE LowBE High
26/2728/29Sep 18$0.70$0.302.33$26.30$28.70
25/2627/28Sep 18$0.38$0.620.61$25.62$27.38
25/2628/29Sep 18$0.36$0.640.56$25.64$28.36

Buy lower + upper strikes, sell 2x middle strike. Low cost, max profit at the middle strike at expiry. 24 found (best R:R 11.50, cheapest $0.05)

CALLS (5)
LowMidHighExpiryDebitMax GainR:R
$25.00$26.00$27.00Sep 18$0.08$0.9211.50
$28.00$29.00$30.00Sep 18$0.09$0.9110.11
$26.50$27.00$27.50Aug 7$0.05$0.459.00
$27.00$27.50$28.00Aug 21$0.06$0.447.33
$26.00$26.50$27.00Aug 7$0.11$0.393.55
PUTS (5)
LowMidHighExpiryDebitMax GainR:R
$24.00$25.00$26.00Sep 18$0.21$0.793.76
$25.00$25.50$26.00Aug 21$0.12$0.383.17
$24.50$25.00$25.50Aug 21$0.16$0.342.13
$25.00$26.00$27.00Sep 18$0.34$0.661.94
$25.50$26.00$26.50Aug 7$0.20$0.301.50

Buy 1 option, sell 2 at a different strike (1:2 ratio). Can be entered for a credit. Unlimited risk on naked leg. 40 found (best net $-0.01, 17 credits)

CALLS (5)
Buy KSell KRatioExpiryNetMax Gain
$27.00$29.001:2Sep 4-$0.15$1.85
$28.00$29.001:2Aug 28-$0.07$0.93
$27.00$28.001:2Sep 18-$0.10$0.90
$26.00$27.001:2Aug 28-$0.23$0.77
$25.00$26.001:2Sep 18-$0.32$0.68
PUTS (5)
Buy KSell KRatioExpiryNetMax Gain
$24.00$22.001:2Aug 14-$0.01$1.99
$23.00$22.001:2Aug 21$0.00$1.00
$25.00$24.001:2Sep 18-$0.06$0.94
$27.00$26.001:2Aug 28-$0.09$0.91
$26.50$26.001:2Aug 14-$0.09$0.41

Sell OTM calls against 100 shares you own. Collect premium for income, capped upside at strike. Yield% = premium/stock price. 7 found (best yield 0.95%, avg 0.53%)

StrikeExpiryBidDeltaOTM%Yield%If Called%VolOI
$27.00Sep 18$0.250.412.3%0.95%3.22%3.5K15.9K
$28.00Sep 18$0.240.246.1%0.91%6.97%12.5K30.7K
$27.00Aug 21$0.160.482.3%0.61%2.88%14114.7K
$29.00Sep 18$0.100.139.8%0.38%10.23%2933.6K
$27.50Aug 21$0.080.274.2%0.30%4.47%1.3K219
$28.00Aug 21$0.080.186.1%0.30%6.36%1.3K117.5K
$26.50Aug 14$0.060.420.4%0.23%0.61%6813

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 78,869
Total Puts 59,457
Put/Call Ratio 0.75
Net Difference 19,412

Prior's Put/Call Breakdown

Total Calls 29,520
Total Puts 74,340
Put/Call Ratio 2.52
Net Difference -44,820

Prior 7-Day Put/Call Summary

Total Calls 141,321
Total Puts 397,397
Average Put/Call Ratio 3.03
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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