Tour v294
WBD
WARNER BROS DISCOVER Series A
$26.12 -1.36%
$26.17 (+0.21%)🌙
as of 07/06 07:10 PM
(7/2 19:11) ◀
|
Monday, July 6, 2026 (7:10pm)
January 2026
|
▶ (7/7 19:13)
◀ 7/6 19:10 ▶

Option Volume

Detail
ℹ
Current (07/06) 73,737
Calls: 57,685 (78%)
Puts: 16,052 (22%)
Prior (07/02) 96,217
Calls: 29,123 (30%)
Puts: 67,094 (70%)
Current vs Prior -23.36%
Calls: +98.07% (Calls)
Puts: -76.08% (Puts)
Prior 7-Day Total 340,220
Calls: 106,040 (31%)
Puts: 234,180 (69%)
Prior 7-Day Average 56,703
Calls: 15,148 (31%)
Puts: 33,454 (69%)
Current vs Prior 7-Day Avg +30.04%
Calls: +280.79%
Puts: -52.02%
Sentiment BULLISH

Dollar Volume

Detail
ℹ
Current (07/06) $7.41M
Calls: $6.65M (90%)
Puts: $764.8K (10%)
Prior (07/02) $4.90M
Calls: $3.27M (67%)
Puts: $1.64M (33%)
Current vs Prior +51.12%
Calls: +103.37%
Puts: -53.25%
Prior 7-Day Total $23.63M
Calls: $9.02M (38%)
Puts: $14.61M (62%)
Prior 7-Day Average $3.94M
Calls: $1.29M (38%)
Puts: $2.09M (62%)
Current vs Prior 7-Day Avg +88.19%
Calls: +415.93%
Puts: -63.35%
Sentiment BULLISH

Put/Call Ratio

Detail
ℹ
Current (07/06) 0.28
Prior (07/02) 2.30
Current vs Prior -87.92%
Prior 7-Day Average 1.98
Current vs Prior 7-Day Avg -85.93%
Sentiment BULLISH

Open Interest

Detail
ℹ
Current (07/06) 1,457,137
Calls: 475,042 (33%)
Puts: 982,095 (67%)
Prior (07/02) 1,453,704
Calls: 565,976 (39%)
Puts: 887,728 (61%)
Current vs Prior +0.24%
Prior 7-Day Total 7,946,389
Calls: 3,086,216 (39%)
Puts: 4,860,173 (61%)
Prior 7-Day Average 1,324,398
Calls: 514,369 (39%)
Puts: 810,028 (61%)
Current vs Prior 7-Day Avg +10.02%
Sentiment BULLISH

Expected Move

Detail
ℹ
Expiry (07/10) | Next (07/17)Expiry (07/17) | Next (08/21)
Current 8.58% | 8.69%8.69% | 17.69%
Prior 4.15% | 11.22%-- | --
Current vs Prior +106.44% | -22.52%-- | --
Prior 7-Day Avg 4.20% | 9.34%-- | --
Current vs 7-Day Avg +104.24% | -6.97%-- | --
Prior 7-Day Eod 4.15% | 11.22%-- | --
Current vs 7-Day Eod +106.44% | -22.52%-- | --
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: 52.03% | 77.12%
Puts: 51.23% | 174.74%
Current vs 7-Day Avg -34.01% | -24.29%
Liquidity Expensive
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🤖 AI Insights

Strong bullish conviction with 90% of dollar volume in calls ($6.65M) vs puts ($764.8K). Elevated premium activity with dollar volume up 51% vs prior. Dollar volume significantly above 7-day average (88% higher). Extreme bullish P/C ratio of 0.28 - heavy call buying (57,685 calls vs 16,052 puts).

Smart Money BULLISH
Retail Flow BULLISH
Overall BULLISH
Dollar Volume
Option Volume
Put/Call Ratio
Open Interest
Expected Move
Current BULLISH
Prior BULLISH
7-Day Avg BEARISH
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 8.3%, best 8.3%)

CALLS (1)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$27.50Jul 100.110.12$0.128.3%2920.1834
PUTS (0)
No puts meet the criteria

Affordable options under $1.00 per contract. Great for defined-risk strategies with minimal capital. 3 found (avg $0.29, cheapest $0.07)

CALLS (2)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$30.00Jul 310.060.07$0.0714.3%900.071.5K
$27.50Jul 100.110.12$0.128.3%2920.1834
PUTS (1)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$26.00Jul 170.640.72$0.6811.8%2130.4828.2K

In-the-money options with delta >0.50. Higher probability of profit, lower leverage. 12 found (avg delta 0.71, highest 1.00)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$24.00Jul 100.504.20$2.35157.4%20.96--
$24.50Jul 100.083.85$1.97191.4%20.94--
$26.00Jul 100.011.81$0.91197.8%440.6146
$26.00Jul 170.391.09$0.7494.6%9180.521.3K
$26.00Jul 240.003.15$1.58199.4%10.5220
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.00Aug 70.814.05$2.43133.3%11.00--
$27.00Jul 100.262.76$1.51165.6%210.911.6K
$27.00Jul 170.911.50$1.2148.8%210.68--
$27.00Jul 240.013.50$1.76198.3%10.63--
$26.50Jul 170.013.05$1.53198.7%200.6165

Most actively traded options today. High liquidity = easy entry/exit. 50 active (total vol 24.0K, top 6.5K)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$27.00Jul 100.130.21$0.1747.1%6.5K0.28955
$26.00Jul 170.391.09$0.7494.6%9180.521.3K
$27.00Jul 170.300.47$0.3943.6%8700.3212.8K
$28.00Jul 170.150.20$0.1827.8%8540.1751.8K
$26.50Jul 100.180.60$0.39107.7%6860.47105
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$21.00Jul 170.020.05$0.0475.0%5.6K0.039.4K
$23.00Jul 170.000.17$0.09188.9%2.5K0.0864.6K
$25.50Jul 100.220.37$0.3050.0%1.3K0.292.6K
$26.00Jul 100.440.58$0.5127.5%1.3K0.411.4K
$25.00Jul 170.240.30$0.2722.2%8150.2666.3K

Term structure inversion — near-term IV higher than far-term IV at the same strike. Signals expected near-term catalyst or volatility event. 9 strikes (avg 44.5%, max 103.1%)

CALLS (5)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$28.00Jul 10Aug 741.6%20.5%103.1%169189
$31.00Jul 31Aug 731.1%21.1%47.0%82315
$29.00Jul 10Jul 3152.5%38.2%37.6%18--
$30.00Jul 17Jul 3145.3%33.8%33.9%20624.3K
$26.50Jul 10Jul 1740.5%32.2%25.9%737105
PUTS (3)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$25.00Jul 10Jul 2453.4%35.2%51.9%481714
$22.00Jul 10Jul 1785.3%56.4%51.2%111.5K
$25.50Jul 10Jul 1759.7%45.5%31.3%1.4K2.6K

Bull call spreads & bear put spreads with the best risk/reward ratios. Pay a debit upfront, defined max loss. 15 found (best R:R 9.34, avg 3.39)

BULL CALL (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$28.00$31.00Aug 7$0.29$2.71$0.299.34$28.29
$29.00$30.00Jul 31$0.15$0.85$0.155.67$29.15
$28.00$30.00Jul 24$0.32$1.68$0.325.25$28.32
$27.50$28.00Jul 17$0.13$0.37$0.132.85$27.63
$28.00$29.00Jul 31$0.30$0.70$0.302.33$28.30
BEAR PUT (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$24.00$23.00Jul 17$0.11$0.89$0.118.09$23.89
$26.00$25.50Jul 17$0.11$0.39$0.113.55$25.89
$27.00$26.50Jul 24$0.13$0.37$0.132.85$26.87
$25.50$25.00Jul 10$0.17$0.33$0.171.94$25.33
$27.00$26.50Jul 10$0.18$0.32$0.181.78$26.82

Bear call spreads & bull put spreads collecting premium. Receive credit upfront, profit if stock stays in range. 18 found (best R:R 3.17, avg 0.85)

BEAR CALL (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$24.00$24.50Jul 10$0.38$0.38$0.123.17$24.38
$26.00$26.50Jul 17$0.36$0.36$0.142.57$26.36
$24.50$26.00Jul 10$1.06$1.06$0.442.41$25.56
$26.50$27.00Jul 10$0.22$0.22$0.280.79$26.72
$27.00$28.00Jul 24$0.32$0.32$0.680.47$27.32
BULL PUT (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$25.50$25.00Jul 17$0.30$0.30$0.201.50$25.20
$26.00$25.50Jul 10$0.21$0.21$0.290.72$25.79
$27.00$26.50Jul 10$0.18$0.18$0.320.56$26.82
$26.50$26.00Jul 24$0.18$0.18$0.320.56$26.32
$25.50$25.00Jul 10$0.17$0.17$0.330.52$25.33

Same strike, different expirations. Sell near-term, buy far-term. Profits from time decay differential. 8 found (avg debit $0.17, cheapest $0.05)

CALLS (4)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$29.00Jul 10Jul 17$0.0552.5%44.2%
$28.00Jul 10Jul 17$0.1341.6%43.1%
$27.50Jul 10Jul 17$0.1943.0%45.7%
$27.00Jul 10Jul 17$0.2236.6%42.3%
PUTS (4)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$25.00Jul 10Jul 17$0.1453.4%37.6%
$26.00Jul 10Jul 17$0.1762.7%38.8%
$26.50Jul 10Jul 17$0.2040.5%32.2%
$25.50Jul 10Jul 17$0.2759.7%45.5%

Buy call + put at the same strike and expiry. Profits from large moves in either direction. 10 found (cheapest 5.44% of stock, avg 7.65%)

StrikeExpiryCall$Put$TotalBE LowBE HighCost%
$26.00Jul 10$0.91$0.51$1.42$24.58$27.425.44%
$26.00Jul 17$0.74$0.68$1.42$24.58$27.425.44%
$27.00Jul 17$0.39$1.21$1.60$25.40$28.606.13%
$27.00Jul 10$0.17$1.51$1.68$25.32$28.686.43%
$26.50Jul 10$0.39$1.33$1.72$24.78$28.226.58%
$26.50Jul 17$0.38$1.53$1.91$24.59$28.417.31%
$24.50Jul 10$1.97$0.05$2.02$22.48$26.527.73%
$27.00Jul 24$0.68$1.76$2.44$24.56$29.449.34%
$28.00Aug 7$0.30$2.43$2.73$25.27$30.7310.45%
$26.00Jul 24$1.58$1.45$3.03$22.97$29.0311.60%

Buy OTM call + OTM put at different strikes. Cheaper than straddles, needs bigger move to profit. 49 found (cheapest 0.34% of stock, avg 2.70%)

Call KPut KExpiryCall$Put$TotalBE LowBE High
$29.50$24.50Jul 10$0.04$0.05$0.09$24.41$29.59
$28.00$24.50Jul 10$0.05$0.05$0.10$24.40$28.10
$27.50$24.50Jul 10$0.12$0.05$0.17$24.33$27.67
$29.50$25.00Jul 10$0.04$0.13$0.17$24.83$29.67
$28.00$25.00Jul 10$0.05$0.13$0.18$24.82$28.18
$27.00$24.50Jul 10$0.17$0.05$0.22$24.28$27.22
$27.50$25.00Jul 10$0.12$0.13$0.25$24.75$27.75
$28.00$23.00Jul 17$0.18$0.09$0.27$22.73$28.27
$27.00$25.00Jul 10$0.17$0.13$0.30$24.70$27.30
$29.50$25.50Jul 10$0.04$0.30$0.34$25.16$29.84

Sell OTM put spread + OTM call spread. Collect premium, profit if stock stays between breakevens. 8 found (best R:R 3.55, avg credit $0.52)

Put SpreadCall SpreadExpiryCreditMax LossR:RBE LowBE High
25/2626/27Jul 10$0.39$0.113.55$25.11$26.89
25/2628/30Jul 24$1.34$0.662.03$24.66$29.34
26/2627/28Jul 24$0.50$0.501.00$26.00$27.50
26/2628/28Jul 17$0.24$0.260.92$25.76$27.74
23/2426/26Jul 17$0.47$0.530.89$23.53$26.47
26/2628/30Jul 24$0.50$1.500.33$26.00$28.50
23/2428/28Jul 17$0.24$0.760.32$23.76$27.74
26/2728/30Jul 24$0.45$1.550.29$26.55$28.45

Buy lower + upper strikes, sell 2x middle strike. Low cost, max profit at the middle strike at expiry. 9 found (best R:R 19.00, cheapest $0.05)

CALLS (5)
LowMidHighExpiryDebitMax GainR:R
$29.00$30.00$31.00Jul 31$0.10$0.909.00
$28.00$29.00$30.00Jul 31$0.15$0.855.67
$26.50$27.00$27.50Jul 10$0.17$0.331.94
$26.00$27.00$28.00Jul 24$0.58$0.420.72
$26.00$26.50$27.00Jul 10$0.30$0.200.67
PUTS (3)
LowMidHighExpiryDebitMax GainR:R
$21.00$22.00$23.00Jul 17$0.05$0.9519.00
$22.00$23.00$24.00Jul 17$0.06$0.9415.67
$24.50$25.00$25.50Jul 10$0.09$0.414.56

Buy 1 option, sell 2 at a different strike (1:2 ratio). Can be entered for a credit. Unlimited risk on naked leg. 19 found (best net $-0.13, 8 credits)

CALLS (5)
Buy KSell KRatioExpiryNetMax Gain
$27.00$28.001:2Jul 31-$0.53$0.47
$29.00$29.501:2Jul 10-$0.05$0.45
$27.00$27.501:2Jul 10-$0.07$0.43
$27.00$27.501:2Jul 17-$0.23$0.27
$26.50$27.001:2Jul 17-$0.40$0.10
PUTS (5)
Buy KSell KRatioExpiryNetMax Gain
$25.00$24.001:2Jul 17-$0.13$0.87
$26.00$25.501:2Jul 10-$0.09$0.41
$26.00$25.501:2Jul 17-$0.46$0.04
$24.50$22.001:2Jul 10$0.01$2.49
$26.00$25.001:2Jul 24$0.59$0.41

Sell OTM calls against 100 shares you own. Collect premium for income, capped upside at strike. Yield% = premium/stock price. 10 found (best yield 2.11%, avg 0.81%)

StrikeExpiryBidDeltaOTM%Yield%If Called%VolOI
$27.00Jul 24$0.550.373.4%2.11%5.47%60207
$28.00Jul 31$0.360.297.2%1.38%8.58%51.6K
$27.00Jul 17$0.300.323.4%1.15%4.52%87012.8K
$28.00Jul 24$0.200.247.2%0.77%7.96%24--
$26.50Jul 10$0.180.471.4%0.69%2.14%686105
$28.00Jul 17$0.150.177.2%0.57%7.77%85451.8K
$27.00Jul 10$0.130.283.4%0.50%3.87%6.5K955
$27.50Jul 10$0.110.185.3%0.42%5.70%29234
$29.00Jul 31$0.080.1611.0%0.31%11.33%17--
$30.00Jul 31$0.060.0714.8%0.23%15.08%901.5K

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 57,685
Total Puts 16,052
Put/Call Ratio 0.28
Net Difference 41,633

Prior's Put/Call Breakdown

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

Prior 7-Day Put/Call Summary

Total Calls 106,040
Total Puts 234,180
Average Put/Call Ratio 1.98
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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