Tour v290
WBD
WARNER BROS DISCOVER Series A
$26.48 -1.23%
$26.43 (-0.19%)🌙
as of 07/02 07:11 PM
(7/1 19:10) ◀
|
Thursday, July 2, 2026 (7:11pm)
January 2026
|
▶ (7/6 19:10)
◀ 7/2 19:11 ▶

Option Volume

Detail
ℹ
Current (07/02) 96,217
Calls: 29,123 (30%)
Puts: 67,094 (70%)
Prior (07/01) 20,065
Calls: 15,333 (76%)
Puts: 4,732 (24%)
Current vs Prior +379.53%
Calls: +89.94% (Calls)
Puts: +1317.88% (Puts)
Prior 7-Day Total 428,522
Calls: 184,283 (43%)
Puts: 244,239 (57%)
Prior 7-Day Average 61,217
Calls: 26,326 (43%)
Puts: 34,891 (57%)
Current vs Prior 7-Day Avg +57.17%
Calls: +10.62%
Puts: +92.29%
Sentiment BEARISH

Dollar Volume

Detail
ℹ
Current (07/02) $4.90M
Calls: $3.27M (67%)
Puts: $1.64M (33%)
Prior (07/01) $1.26M
Calls: $1.05M (83%)
Puts: $211.2K (17%)
Current vs Prior +288.33%
Calls: +210.75%
Puts: +674.59%
Prior 7-Day Total $35.03M
Calls: $17.43M (50%)
Puts: $17.60M (50%)
Prior 7-Day Average $5.00M
Calls: $2.49M (50%)
Puts: $2.51M (50%)
Current vs Prior 7-Day Avg -2.01%
Calls: +31.26%
Puts: -34.94%
Sentiment BULLISH

Put/Call Ratio

Detail
ℹ
Current (07/02) 2.30
Prior (07/01) 0.31
Current vs Prior +646.50%
Prior 7-Day Average 1.74
Current vs Prior 7-Day Avg +32.11%
Sentiment BEARISH

Open Interest

Detail
ℹ
Current (07/02) 1,453,704
Calls: 565,976 (39%)
Puts: 887,728 (61%)
Prior (07/01) 1,368,958
Calls: 505,617 (37%)
Puts: 863,341 (63%)
Current vs Prior +6.19%
Prior 7-Day Total 9,321,199
Calls: 3,086,216 (39%)
Puts: 4,860,173 (61%)
Prior 7-Day Average 1,331,599
Calls: 514,369 (39%)
Puts: 810,028 (61%)
Current vs Prior 7-Day Avg +9.17%
Sentiment BULLISH

Expected Move

Detail
ℹ
Expiry (07/02) | Next (07/10)Expiry (07/17) | Next (08/21)
Current 5.21% | 4.15%11.22% | 15.41%
Prior 2.46% | 9.51%-- | --
Current vs Prior +68.74% | +17.92%-- | --
Prior 7-Day Avg 4.54% | 8.56%-- | --
Current vs 7-Day Avg -8.44% | +31.00%-- | --
Prior 7-Day Eod 2.46% | 9.51%-- | --
Current vs 7-Day Eod +68.74% | +17.92%-- | --
Sentiment BEARISH--

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 51.63% | 125.93%
Calls: 57.56% | 84.14%
Puts: 52.72% | 179.95%
Current vs 7-Day Avg -34.01% | -24.29%
Liquidity Expensive
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🤖 AI Insights

Moderately bullish flow with 67% call dollar volume ($3.27M). Massive premium surge with dollar volume up 288% vs prior. Unusually high activity with volume up 380% vs prior - elevated interest. Extreme bearish P/C ratio of 2.30 - heavy put buying.

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

📈 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. 25 found (avg delta 0.78, highest 1.00)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$23.00Jul 21.505.55$3.53114.7%451.0018
$25.00Jul 20.103.45$1.78188.2%21.00--
$25.50Jul 20.433.05$1.74150.6%41.00--
$26.00Jul 20.012.56$1.29197.7%40.93101
$22.00Jul 22.856.55$4.7078.7%960.786
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.50Jul 20.304.10$2.20172.7%20.98--
$31.50Jul 23.057.10$5.0779.9%10.98--
$27.50Jul 20.013.10$1.56198.1%300.97568
$27.00Jul 20.012.48$1.24199.2%1.4K0.964.9K
$28.00Jul 100.013.55$1.78198.9%50.9110

Most actively traded options today. High liquidity = easy entry/exit. 70 active (total vol 16.6K, top 4.8K)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$27.00Jul 100.040.40$0.22163.6%4580.33523
$28.00Jul 170.250.35$0.3033.3%2070.2551.8K
$26.50Jul 20.000.16$0.08200.0%1260.45250
$27.00Jul 20.000.01$0.01100.0%1260.044.0K
$26.50Jul 100.010.84$0.43193.0%1060.52--
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$22.00Jul 170.030.06$0.0560.0%4.8K0.0429.8K
$25.50Jul 100.010.25$0.13184.6%1.8K0.19313
$26.00Jul 170.240.70$0.4797.9%1.4K0.3827.9K
$27.00Jul 20.012.48$1.24199.2%1.4K0.964.9K
$27.00Jul 100.580.90$0.7443.2%1.3K0.68290

Term structure inversion — near-term IV higher than far-term IV at the same strike. Signals expected near-term catalyst or volatility event. 17 strikes (avg 652.3%, max 4002.7%)

CALLS (5)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$30.50Jul 2Jul 173036.0%74.0%4002.7%3--
$29.00Jul 2Jul 31597.0%42.0%1321.4%315
$25.00Jul 2Jul 17366.0%45.0%713.3%27143
$27.50Jul 2Jul 17257.0%35.0%634.3%1061.7K
$28.00Jul 2Aug 7356.0%64.0%456.2%6139.9K
PUTS (5)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$25.00Jul 2Jul 24366.0%34.0%976.5%652.9K
$25.50Jul 2Jul 10256.0%31.0%725.8%1.9K6.6K
$28.50Jul 2Jul 10450.0%56.0%703.6%32--
$27.00Jul 2Jul 17149.0%31.0%380.6%1.4K25.1K
$27.50Jul 2Jul 10257.0%58.0%343.1%75575

Bull call spreads & bear put spreads with the best risk/reward ratios. Pay a debit upfront, defined max loss. 16 found (best R:R 5.67, avg 2.13)

BULL CALL (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$29.00$30.00Jul 17$0.15$0.85$0.155.67$29.15
$29.00$30.00Jul 31$0.19$0.81$0.194.26$29.19
$27.00$27.50Jul 17$0.10$0.40$0.104.00$27.10
$29.00$30.00Jul 24$0.24$0.76$0.243.17$29.24
$27.00$28.00Aug 7$0.28$0.72$0.282.57$27.28
BEAR PUT (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$25.00$24.00Jul 17$0.25$0.75$0.253.00$24.75
$28.00$27.50Jul 10$0.17$0.33$0.171.94$27.83
$26.00$25.50Jul 10$0.31$0.19$0.310.61$25.69
$27.50$27.00Jul 2$0.32$0.18$0.320.56$27.18
$28.50$27.50Jul 2$0.64$0.36$0.640.56$27.86

Bear call spreads & bull put spreads collecting premium. Receive credit upfront, profit if stock stays in range. 19 found (best R:R 19.00, avg 2.25)

BEAR CALL (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$23.00$23.50Jul 2$0.31$0.31$0.191.63$23.31
$27.00$28.00Jul 24$0.53$0.53$0.471.13$27.53
$28.00$31.00Aug 7$1.31$1.31$1.690.78$29.31
$26.50$27.00Jul 10$0.21$0.21$0.290.72$26.71
$28.00$29.00Jul 24$0.37$0.37$0.630.59$28.37
BULL PUT (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$30.50$28.50Jul 2$1.90$1.90$0.1019.00$28.60
$29.00$28.00Aug 7$0.89$0.89$0.118.09$28.11
$27.00$26.50Jul 10$0.37$0.37$0.132.85$26.63
$27.50$27.00Jul 2$0.32$0.32$0.181.78$27.18
$28.50$27.50Jul 2$0.64$0.64$0.361.78$27.86

Same strike, different expirations. Sell near-term, buy far-term. Profits from time decay differential. 11 found (avg debit $0.32, cheapest $0.05)

CALLS (5)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$28.00Jul 2Jul 10$0.06356.0%29.0%
$27.00Jul 2Jul 10$0.21149.0%26.0%
$25.00Jul 2Jul 17$0.24366.0%45.0%
$26.50Jul 2Jul 10$0.3596.0%24.0%
$27.50Jul 2Jul 10$0.52257.0%58.0%
PUTS (5)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$27.50Jul 2Jul 10$0.05257.0%58.0%
$25.50Jul 2Jul 10$0.12256.0%31.0%
$28.00Jul 10Aug 7$0.1929.0%64.0%
$26.50Jul 2Jul 10$0.2896.0%24.0%
$26.00Jul 2Jul 10$0.43163.0%43.0%

Buy call + put at the same strike and expiry. Profits from large moves in either direction. 15 found (cheapest 0.64% of stock, avg 7.38%)

StrikeExpiryCall$Put$TotalBE LowBE HighCost%
$26.50Jul 2$0.08$0.09$0.17$26.33$26.670.64%
$26.50Jul 10$0.43$0.37$0.80$25.70$27.303.02%
$27.00Jul 10$0.22$0.74$0.96$26.04$27.963.63%
$27.00Jul 2$0.01$1.24$1.25$25.75$28.254.72%
$26.00Jul 2$1.29$0.01$1.30$24.70$27.304.91%
$27.50Jul 2$0.01$1.56$1.57$25.93$29.075.93%
$25.50Jul 2$1.74$0.01$1.75$23.75$27.256.61%
$25.00Jul 2$1.78$0.01$1.79$23.21$26.796.76%
$28.00Jul 10$0.07$1.78$1.85$26.15$29.856.99%
$27.00Jul 17$0.46$1.40$1.86$25.14$28.867.02%

Buy OTM call + OTM put at different strikes. Cheaper than straddles, needs bigger move to profit. 51 found (cheapest 0.34% of stock, avg 3.89%)

Call KPut KExpiryCall$Put$TotalBE LowBE High
$26.50$26.00Jul 2$0.08$0.01$0.09$25.91$26.59
$28.00$25.50Jul 10$0.07$0.13$0.20$25.30$28.20
$30.00$25.50Jul 10$0.08$0.13$0.21$25.29$30.21
$29.00$24.00Jul 17$0.20$0.14$0.34$23.66$29.34
$27.00$25.50Jul 10$0.22$0.13$0.35$25.15$27.35
$28.00$26.50Jul 10$0.07$0.37$0.44$26.06$28.44
$28.00$24.00Jul 17$0.30$0.14$0.44$23.56$28.44
$30.00$26.50Jul 10$0.08$0.37$0.45$26.05$30.45
$30.00$25.00Jul 24$0.06$0.39$0.45$24.55$30.45
$27.50$24.00Jul 17$0.36$0.14$0.50$23.50$28.00

Sell OTM put spread + OTM call spread. Collect premium, profit if stock stays between breakevens. 2 found (best R:R 0.67, avg credit $0.38)

Put SpreadCall SpreadExpiryCreditMax LossR:RBE LowBE High
24/2529/30Jul 17$0.40$0.600.67$24.60$29.40
24/2527/28Jul 17$0.35$0.650.54$24.65$27.35

Buy lower + upper strikes, sell 2x middle strike. Low cost, max profit at the middle strike at expiry. 10 found (best R:R 6.69, cheapest $0.07)

CALLS (5)
LowMidHighExpiryDebitMax GainR:R
$28.00$29.00$30.00Jul 10$0.13$0.876.69
$28.00$29.00$30.00Jul 24$0.13$0.876.69
$26.50$27.00$27.50Jul 2$0.07$0.436.14
$27.00$28.00$29.00Jul 24$0.16$0.845.25
$22.50$23.00$23.50Jul 2$0.39$0.110.28
PUTS (3)
LowMidHighExpiryDebitMax GainR:R
$25.50$26.00$26.50Jul 2$0.08$0.425.25
$27.50$28.00$28.50Jul 10$0.30$0.200.67
$26.00$26.50$27.00Jul 10$0.44$0.060.14

Buy 1 option, sell 2 at a different strike (1:2 ratio). Can be entered for a credit. Unlimited risk on naked leg. 25 found (best net $-0.30, 9 credits)

CALLS (5)
Buy KSell KRatioExpiryNetMax Gain
$28.00$29.001:2Jul 17-$0.10$0.90
$27.00$28.001:2Jul 24-$0.14$0.86
$29.00$30.001:2Jul 10-$0.15$0.85
$25.00$26.501:2Jul 17-$0.98$0.52
$27.50$28.001:2Jul 17-$0.24$0.26
PUTS (5)
Buy KSell KRatioExpiryNetMax Gain
$30.50$28.501:2Jul 2-$0.30$1.70
$26.00$25.001:2Jul 17-$0.31$0.69
$28.50$27.501:2Jul 2-$0.92$0.08
$24.00$22.001:2Jul 17$0.04$1.96
$25.00$24.001:2Jul 17$0.11$0.89

Sell OTM calls against 100 shares you own. Collect premium for income, capped upside at strike. Yield% = premium/stock price. 5 found (best yield 1.77%, avg 0.88%)

StrikeExpiryBidDeltaOTM%Yield%If Called%VolOI
$28.00Jul 24$0.470.335.7%1.77%7.52%6--
$28.00Jul 17$0.250.255.7%0.94%6.68%20751.8K
$27.00Jul 17$0.170.402.0%0.64%2.61%3112.8K
$27.50Jul 17$0.150.313.9%0.57%4.42%3643
$29.00Jul 17$0.130.179.5%0.49%10.01%3949.0K

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 29,123
Total Puts 67,094
Put/Call Ratio 2.30
Net Difference -37,971

Prior's Put/Call Breakdown

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

Prior 7-Day Put/Call Summary

Total Calls 184,283
Total Puts 244,239
Average Put/Call Ratio 1.74
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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