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WARNER BROS DISCOVER Series A
$26.81 +0.56%
$26.75 (-0.22%)🌙
as of 07/01 07:10 PM
(6/30 19:03) ◀
|
Wednesday, July 1, 2026 (7:10pm)
January 2026
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◀ 7/1 19:10

Option Volume

Detail
ℹ
Current (07/01) 20,065
Calls: 15,333 (76%)
Puts: 4,732 (24%)
Prior (06/30) 25,236
Calls: 8,222 (33%)
Puts: 17,014 (67%)
Current vs Prior -20.49%
Calls: +86.49% (Calls)
Puts: -72.19% (Puts)
Prior 7-Day Total 484,034
Calls: 218,676 (45%)
Puts: 265,358 (55%)
Prior 7-Day Average 69,147
Calls: 31,239 (45%)
Puts: 37,908 (55%)
Current vs Prior 7-Day Avg -70.98%
Calls: -50.92%
Puts: -87.52%
Sentiment BULLISH

Dollar Volume

Detail
ℹ
Current (07/01) $1.26M
Calls: $1.05M (83%)
Puts: $211.2K (17%)
Prior (06/30) $2.33M
Calls: $633.9K (27%)
Puts: $1.69M (73%)
Current vs Prior -45.75%
Calls: +65.89%
Puts: -87.53%
Prior 7-Day Total $41.01M
Calls: $22.16M (54%)
Puts: $18.86M (46%)
Prior 7-Day Average $5.86M
Calls: $3.17M (54%)
Puts: $2.69M (46%)
Current vs Prior 7-Day Avg -78.45%
Calls: -66.78%
Puts: -92.16%
Sentiment BULLISH

Put/Call Ratio

Detail
ℹ
Current (07/01) 0.31
Prior (06/30) 2.07
Current vs Prior -85.09%
Prior 7-Day Average 1.77
Current vs Prior 7-Day Avg -82.60%
Sentiment BULLISH

Open Interest

Detail
ℹ
Current (07/01) 1,368,958
Calls: 505,617 (37%)
Puts: 863,341 (63%)
Prior (06/30) 1,387,290
Calls: 492,493 (36%)
Puts: 894,797 (64%)
Current vs Prior -1.32%
Prior 7-Day Total 9,532,027
Calls: 3,452,293 (36%)
Puts: 6,079,734 (64%)
Prior 7-Day Average 1,361,718
Calls: 493,184 (36%)
Puts: 868,533 (64%)
Current vs Prior 7-Day Avg +0.53%
Sentiment BULLISH

Expected Move

Detail
ℹ
Expiry (07/10) | Next (07/17)Expiry (07/10) | Next (07/17)Expiry (07/17) | Next (08/21)
Current 9.51% | 10.71%9.51% | 10.71%10.71% | 17.79%
Prior 3.15% | 10.84%-- | ---- | --
Current vs Prior -21.87% | -12.26%-- | ---- | --
Prior 7-Day Avg 5.41% | 8.46%-- | ---- | --
Current vs 7-Day Avg -54.49% | +12.36%-- | ---- | --
Prior 7-Day Eod 3.15% | 10.84%-- | ---- | --
Current vs 7-Day Eod -21.87% | -12.26%-- | ---- | --
Sentiment BULLISH----

Relative Spread

Detail
ℹ
Expiry | Next
Current 34.07% | 95.34%
Calls: 24.39% | 42.00%
Puts: 43.75% | 148.68%
Prior 34.07% | 95.34%
Calls: 24.39% | 42.00%
Puts: 43.75% | 148.68%
Current vs Prior +0.00% | +0.00%
Prior 7-Day Avg 153.02% | 199.83%
Calls: 99.16% | 174.51%
Puts: 206.87% | 230.08%
Current vs 7-Day Avg -77.73% | -52.29%
Liquidity Expensive
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🤖 AI Insights

Strong bullish conviction with 83% of dollar volume in calls ($1.05M) vs puts ($211.2K). Extreme bullish P/C ratio of 0.31 - heavy call buying (15,333 calls vs 4,732 puts). P/C ratio dropping 85% - sentiment shifting bullish. Put-heavy open interest (863,341 puts vs 505,617 calls) suggests hedging or bearish positioning.

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 BULLISH
Current BULLISH
Prior BEARISH
7-Day Avg NEUTRAL
Current BULLISH
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 7.9%, best 7.9%)

CALLS (0)
No calls meet the criteria
PUTS (1)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$26.00Jul 170.600.65$0.637.9%6810.4327.9K

Affordable options under $1.00 per contract. Great for defined-risk strategies with minimal capital. 1 found (avg $0.63, cheapest $0.63)

CALLS (0)
No calls meet the criteria
PUTS (1)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$26.00Jul 170.600.65$0.637.9%6810.4327.9K

In-the-money options with delta >0.50. Higher probability of profit, lower leverage. 19 found (avg delta 0.78, highest 1.00)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$23.00Jul 21.965.90$3.93100.3%51.00--
$25.00Jul 20.053.95$2.00195.0%1361.0076
$26.00Jul 20.152.98$1.57180.3%61.00102
$22.50Jul 22.396.45$4.4291.9%20.78--
$26.50Jul 20.050.60$0.33166.7%210.75--
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$29.00Jul 20.494.30$2.40158.8%20.98--
$28.50Jul 20.683.80$2.24139.3%70.98--
$29.50Jul 20.924.80$2.86135.7%10.98--
$28.00Jul 20.123.30$1.71186.0%70.9520
$29.00Jul 240.484.65$2.57162.3%20.77--

Most actively traded options today. High liquidity = easy entry/exit. 54 active (total vol 13.2K, top 6.1K)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.00Jul 170.290.57$0.4365.1%6.1K0.2846.5K
$29.00Jul 170.090.24$0.1693.8%2.5K0.1450.0K
$25.00Jul 20.053.95$2.00195.0%1361.0076
$24.50Jul 20.464.45$2.46162.2%1070.711
$30.00Jul 170.050.10$0.0862.5%830.0722.7K
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$22.00Jul 170.000.11$0.06183.3%1.6K0.04--
$26.00Jul 170.600.65$0.637.9%6810.4327.9K
$23.00Jul 170.000.23$0.12191.7%2470.0964.4K
$25.50Jul 20.020.04$0.0366.7%2220.076.1K
$25.00Jul 20.010.02$0.0250.0%2000.042.8K

Term structure inversion — near-term IV higher than far-term IV at the same strike. Signals expected near-term catalyst or volatility event. 10 strikes (avg 72.9%, max 256.9%)

CALLS (5)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$29.00Jul 2Jul 2473.9%45.3%63.4%16441
$30.00Jul 10Jul 3148.9%31.2%56.8%9--
$26.00Jul 2Jul 1747.9%33.0%45.0%27102
$28.00Jul 2Jul 3156.0%43.2%29.7%3239.9K
$27.50Jul 2Jul 1755.6%44.6%24.6%281.1K
PUTS (5)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$22.00Jul 10Jul 17182.6%51.2%256.9%1.6K658
$25.00Jul 2Jul 1775.2%35.8%110.1%23069.0K
$29.00Jul 2Jul 2473.9%45.3%63.4%4--
$26.00Jul 2Jul 1747.9%33.0%45.0%83830.5K
$23.00Jul 10Jul 24130.6%97.7%33.7%43

Bull call spreads & bear put spreads with the best risk/reward ratios. Pay a debit upfront, defined max loss. 18 found (best R:R 15.67, avg 3.36)

BULL CALL (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$28.00$30.00Jul 10$0.12$1.88$0.1215.67$28.12
$29.00$31.00Jul 24$0.33$1.67$0.335.06$29.33
$27.00$27.50Jul 2$0.10$0.40$0.104.00$27.10
$28.00$29.00Jul 17$0.27$0.73$0.272.70$28.27
$26.50$27.00Jul 2$0.17$0.33$0.171.94$26.67
BEAR PUT (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$25.00$23.00Jul 17$0.19$1.81$0.199.53$24.81
$24.50$23.00Jul 10$0.36$1.14$0.363.17$24.14
$29.00$23.00Jul 24$1.47$4.53$1.473.08$27.53
$29.00$28.50Jul 2$0.16$0.34$0.162.13$28.84
$26.00$25.00Jul 17$0.32$0.68$0.322.12$25.68

Bear call spreads & bull put spreads collecting premium. Receive credit upfront, profit if stock stays in range. 18 found (best R:R 1.38, avg 0.52)

BEAR CALL (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$26.50$27.00Jul 17$0.29$0.29$0.211.38$26.79
$27.00$28.00Jul 24$0.45$0.45$0.550.82$27.45
$25.00$26.00Jul 2$0.43$0.43$0.570.75$25.43
$26.00$26.50Jul 17$0.20$0.20$0.300.67$26.20
$28.00$29.00Jul 24$0.40$0.40$0.600.67$28.40
BULL PUT (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$27.00$26.50Jul 2$0.23$0.23$0.270.85$26.77
$29.00$28.50Jul 2$0.16$0.16$0.340.47$28.84
$26.00$25.00Jul 17$0.32$0.32$0.680.47$25.68
$24.50$23.00Jul 10$0.36$0.36$1.140.32$24.14
$29.00$23.00Jul 24$1.47$1.47$4.530.32$27.53

Same strike, different expirations. Sell near-term, buy far-term. Profits from time decay differential. 10 found (avg debit $0.54, cheapest $0.15)

CALLS (5)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$28.00Jul 2Jul 10$0.1556.0%39.8%
$29.00Jul 2Jul 17$0.1573.9%43.2%
$27.00Jul 2Jul 10$0.3750.2%45.3%
$27.50Jul 2Jul 17$0.4455.6%44.6%
$26.50Jul 2Jul 17$0.8735.9%59.0%
PUTS (5)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$29.00Jul 2Jul 24$0.1773.9%45.3%
$26.50Jul 2Jul 10$0.4835.9%90.8%
$27.00Jul 2Jul 10$0.7250.2%45.3%
$26.00Jul 2Jul 10$0.9047.9%70.6%
$25.00Jul 2Jul 10$1.1175.2%109.8%

Buy call + put at the same strike and expiry. Profits from large moves in either direction. 11 found (cheapest 1.60% of stock, avg 6.86%)

StrikeExpiryCall$Put$TotalBE LowBE HighCost%
$26.50Jul 2$0.33$0.10$0.43$26.07$26.931.60%
$27.00Jul 2$0.16$0.33$0.49$26.51$27.491.83%
$27.00Jul 10$0.53$1.05$1.58$25.42$28.585.89%
$26.00Jul 2$1.57$0.04$1.61$24.39$27.616.01%
$28.00Jul 2$0.02$1.71$1.73$26.27$29.736.45%
$25.00Jul 2$2.00$0.02$2.02$22.98$27.027.53%
$26.00Jul 17$1.40$0.63$2.03$23.97$28.037.57%
$29.00Jul 2$0.01$2.40$2.41$26.59$31.418.99%
$26.50Jul 17$1.20$1.22$2.42$24.08$28.929.03%
$27.00Jul 17$0.91$1.67$2.58$24.42$29.589.62%

Buy OTM call + OTM put at different strikes. Cheaper than straddles, needs bigger move to profit. 44 found (cheapest 0.34% of stock, avg 3.63%)

Call KPut KExpiryCall$Put$TotalBE LowBE High
$27.50$25.50Jul 2$0.06$0.03$0.09$25.41$27.59
$27.50$26.00Jul 2$0.06$0.04$0.10$25.90$27.60
$27.50$26.50Jul 2$0.06$0.10$0.16$26.34$27.66
$27.00$25.50Jul 2$0.16$0.03$0.19$25.31$27.19
$27.00$26.00Jul 2$0.16$0.04$0.20$25.80$27.20
$30.00$23.00Jul 17$0.08$0.12$0.20$22.80$30.20
$27.00$26.50Jul 2$0.16$0.10$0.26$26.24$27.26
$29.00$23.00Jul 17$0.16$0.12$0.28$22.72$29.28
$30.00$25.00Jul 17$0.08$0.31$0.39$24.61$30.39
$29.00$25.00Jul 17$0.16$0.31$0.47$24.53$29.47

Sell OTM put spread + OTM call spread. Collect premium, profit if stock stays between breakevens. 12 found (best R:R 6.14, avg credit $0.60)

Put SpreadCall SpreadExpiryCreditMax LossR:RBE LowBE High
26/2628/29Jul 17$0.86$0.146.14$25.64$28.86
25/2627/28Jul 17$0.73$0.272.70$25.27$27.73
26/2728/29Jul 17$0.72$0.282.57$26.28$28.72
25/2626/27Jul 17$0.61$0.391.56$25.39$27.11
25/2628/29Jul 17$0.59$0.411.44$25.41$28.59
23/2427/28Jul 10$0.72$0.780.92$23.78$27.72
23/2527/28Jul 17$0.60$1.400.43$24.40$27.60
26/2728/30Jul 10$0.59$1.410.42$26.41$28.59
23/2428/30Jul 10$0.48$1.520.32$24.02$28.48
23/2526/27Jul 17$0.48$1.520.32$24.52$26.98

Buy lower + upper strikes, sell 2x middle strike. Low cost, max profit at the middle strike at expiry. 8 found (best R:R 9.00, cheapest $0.05)

CALLS (5)
LowMidHighExpiryDebitMax GainR:R
$27.00$27.50$28.00Jul 2$0.06$0.447.33
$26.50$27.00$27.50Jul 2$0.07$0.436.14
$24.00$24.50$25.00Jul 2$0.08$0.425.25
$28.00$29.00$30.00Jul 17$0.19$0.814.26
$27.00$27.50$28.00Jul 17$0.34$0.160.47
PUTS (3)
LowMidHighExpiryDebitMax GainR:R
$25.50$26.00$26.50Jul 2$0.05$0.459.00
$26.00$26.50$27.00Jul 2$0.17$0.331.94
$28.50$29.00$29.50Jul 2$0.30$0.200.67

Buy 1 option, sell 2 at a different strike (1:2 ratio). Can be entered for a credit. Unlimited risk on naked leg. 18 found (best net $-0.38, 9 credits)

CALLS (5)
Buy KSell KRatioExpiryNetMax Gain
$28.00$29.001:2Jul 2$0.00$1.00
$29.00$30.001:2Jul 17$0.00$1.00
$31.00$32.001:2Jul 24$0.00$1.00
$27.00$28.001:2Jul 24-$0.30$0.70
$27.00$27.501:2Jul 17-$0.09$0.41
PUTS (5)
Buy KSell KRatioExpiryNetMax Gain
$24.50$23.001:2Jul 10-$0.38$1.12
$23.00$22.001:2Jul 17$0.00$1.00
$27.00$26.501:2Jul 10-$0.11$0.39
$29.00$23.001:2Jul 24$0.37$5.63
$25.00$23.001:2Jul 17$0.07$1.93

Sell OTM calls against 100 shares you own. Collect premium for income, capped upside at strike. Yield% = premium/stock price. 5 found (best yield 2.05%, avg 1.09%)

StrikeExpiryBidDeltaOTM%Yield%If Called%VolOI
$27.00Jul 17$0.550.440.7%2.05%2.76%7012.8K
$28.00Jul 24$0.470.354.4%1.75%6.19%219.1K
$28.00Jul 17$0.290.284.4%1.08%5.52%6.1K46.5K
$29.00Jul 17$0.090.148.2%0.34%8.50%2.5K50.0K
$27.00Jul 2$0.060.350.7%0.22%0.93%454.0K

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 15,333
Total Puts 4,732
Put/Call Ratio 0.31
Net Difference 10,601

Prior's Put/Call Breakdown

Total Calls 8,222
Total Puts 17,014
Put/Call Ratio 2.07
Net Difference -8,792

Prior 7-Day Put/Call Summary

Total Calls 218,676
Total Puts 265,358
Average Put/Call Ratio 1.77
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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