Tour v297
WBD
WARNER BROS DISCOVER Series A
$26.12 +0.00%
$26.17 (+0.19%)🌙
as of 07/07 07:13 PM
(7/6 19:10) ◀
|
Tuesday, July 7, 2026 (7:13pm)
January 2026
|
▶ (7/8 19:14)
◀ 7/7 19:13 ▶

Option Volume

Detail
ℹ
Current (07/07) 244,931
Calls: 21,448 (9%)
Puts: 223,483 (91%)
Prior (07/06) 73,737
Calls: 57,685 (78%)
Puts: 16,052 (22%)
Current vs Prior +232.17%
Calls: -62.82% (Calls)
Puts: +1292.24% (Puts)
Prior 7-Day Total 413,957
Calls: 163,725 (40%)
Puts: 250,232 (60%)
Prior 7-Day Average 59,136
Calls: 23,389 (40%)
Puts: 35,747 (60%)
Current vs Prior 7-Day Avg +314.18%
Calls: -8.30%
Puts: +525.17%
Sentiment BEARISH

Dollar Volume

Detail
ℹ
Current (07/07) $29.85M
Calls: $756.9K (3%)
Puts: $29.09M (97%)
Prior (07/06) $7.41M
Calls: $6.65M (90%)
Puts: $764.8K (10%)
Current vs Prior +302.84%
Calls: -88.61%
Puts: +3704.10%
Prior 7-Day Total $31.04M
Calls: $15.66M (50%)
Puts: $15.37M (50%)
Prior 7-Day Average $4.43M
Calls: $2.24M (50%)
Puts: $2.20M (50%)
Current vs Prior 7-Day Avg +573.29%
Calls: -66.17%
Puts: +1224.72%
Sentiment BEARISH

Put/Call Ratio

Detail
ℹ
Current (07/07) 10.42
Prior (07/06) 0.28
Current vs Prior +3644.48%
Prior 7-Day Average 1.74
Current vs Prior 7-Day Avg +500.47%
Sentiment BEARISH

Open Interest

Detail
ℹ
Current (07/07) 1,436,072
Calls: 483,998 (34%)
Puts: 952,074 (66%)
Prior (07/06) 1,457,137
Calls: 475,042 (33%)
Puts: 982,095 (67%)
Current vs Prior -1.45%
Prior 7-Day Total 9,403,526
Calls: 3,561,258 (38%)
Puts: 5,842,268 (62%)
Prior 7-Day Average 1,343,360
Calls: 508,751 (38%)
Puts: 834,609 (62%)
Current vs Prior 7-Day Avg +6.90%
Sentiment BULLISH

Expected Move

Detail
ℹ
Expiry (07/10) | Next (07/17)Expiry (07/17) | Next (08/21)
Current 5.90% | 6.78%6.78% | 14.40%
Prior 8.58% | 8.69%8.69% | 17.69%
Current vs Prior -31.25% | -22.03%-22.03% | -18.61%
Prior 7-Day Avg 4.82% | 9.25%8.69% | 17.69%
Current vs 7-Day Avg +22.22% | -26.73%-22.03% | -18.61%
Prior 7-Day Eod 8.58% | 8.69%-- | --
Current vs 7-Day Eod -31.25% | -22.03%-- | --
Sentiment BULLISHBULLISH

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 49.12% | 121.56%
Calls: 48.08% | 72.10%
Puts: 50.16% | 171.01%
Current vs 7-Day Avg -30.64% | -21.57%
Liquidity Expensive
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🤖 AI Insights

Strong bearish conviction with 97% of dollar volume in puts ($29.09M) vs calls ($756.9K). Massive premium surge with dollar volume up 303% vs prior. Dollar volume significantly above 7-day average (573% higher). Unusually high activity with volume up 232% vs prior - elevated interest.

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 BULLISH
7-Day Avg NEUTRAL
Current BEARISH
Prior BULLISH
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 9.5%, best 9.5%)

CALLS (1)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$27.00Aug 211.201.32$1.269.5%250.483.2K
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 $0.19, cheapest $0.19)

CALLS (1)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.00Jul 170.180.20$0.1910.5%2.5K0.1951.9K
PUTS (0)
No puts meet the criteria

In-the-money options with delta >0.50. Higher probability of profit, lower leverage. 19 found (avg delta 0.72, highest 1.00)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$21.00Jul 103.657.25$5.4566.1%1561.00--
$22.00Jul 102.636.25$4.4481.5%80.99--
$23.50Jul 170.984.85$2.92132.5%300.94--
$23.00Jul 172.444.20$3.3253.0%540.9357
$24.00Jul 171.583.20$2.3967.8%540.8689
PUTS (3)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.00Jul 171.212.24$1.7359.5%450.8210.1K
$27.00Jul 170.671.40$1.0370.9%2910.6620.1K
$27.00Aug 211.502.08$1.7932.4%10.54--

Most actively traded options today. High liquidity = easy entry/exit. 63 active (total vol 37.3K, top 16.3K)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.00Jul 170.180.20$0.1910.5%2.5K0.1951.9K
$27.00Jul 170.350.45$0.4025.0%1.2K0.3413.4K
$29.00Aug 210.430.53$0.4820.8%6030.2697.6K
$26.00Jul 170.651.03$0.8445.2%5950.562.1K
$26.50Jul 100.100.32$0.21104.8%5340.42756
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$25.00Jul 170.250.35$0.3033.3%16.3K0.2566.7K
$25.00Aug 210.650.95$0.8037.5%8.9K0.3224.3K
$26.00Jul 100.250.50$0.3865.8%1.0K0.412.4K
$22.00Jul 170.010.75$0.38194.7%8710.1433.4K
$24.00Aug 210.010.64$0.33190.9%6230.195.3K

Term structure inversion — near-term IV higher than far-term IV at the same strike. Signals expected near-term catalyst or volatility event. 15 strikes (avg 48.6%, max 154.4%)

CALLS (5)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$31.00Jul 17Aug 1442.2%23.8%77.6%832.8K
$30.00Jul 17Aug 2145.9%30.4%50.6%5622.7K
$29.00Jul 10Aug 2152.7%35.9%46.8%60597.7K
$26.00Jul 10Aug 2155.5%43.3%28.2%9090
$27.50Jul 10Jul 1742.6%33.7%26.6%122938
PUTS (5)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$22.00Jul 17Aug 21109.1%42.9%154.4%93135.0K
$24.00Jul 10Aug 2163.3%33.1%91.0%6245.3K
$21.00Jul 17Aug 2178.7%45.7%72.0%44131.1K
$23.00Jul 17Aug 2154.9%35.3%55.2%32974.1K
$25.00Jul 10Aug 2160.4%39.4%53.5%9.5K25.4K

Bull call spreads & bear put spreads with the best risk/reward ratios. Pay a debit upfront, defined max loss. 21 found (best R:R 8.09, avg 2.54)

BULL CALL (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$28.00$29.00Jul 17$0.11$0.89$0.118.09$28.11
$28.00$30.00Jul 31$0.40$1.60$0.404.00$28.40
$26.50$27.00Jul 10$0.11$0.39$0.113.55$26.61
$28.00$29.00Aug 21$0.28$0.72$0.282.57$28.28
$29.00$30.00Aug 21$0.30$0.70$0.302.33$29.30
BEAR PUT (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$24.00$23.00Aug 21$0.13$0.87$0.136.69$23.87
$25.00$24.00Jul 17$0.14$0.86$0.146.14$24.86
$26.00$25.50Jul 10$0.16$0.34$0.162.12$25.84
$22.00$21.00Jul 17$0.32$0.68$0.322.12$21.68
$27.00$26.00Jul 17$0.40$0.60$0.401.50$26.60

Bear call spreads & bull put spreads collecting premium. Receive credit upfront, profit if stock stays in range. 25 found (best R:R 4.00, avg 1.01)

BEAR CALL (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$23.00$23.50Jul 17$0.40$0.40$0.104.00$23.40
$22.50$25.50Jul 10$2.38$2.38$0.623.84$24.88
$26.00$27.00Aug 21$0.71$0.71$0.292.45$26.71
$26.00$26.50Jul 17$0.25$0.25$0.251.00$26.25
$27.00$28.00Aug 21$0.50$0.50$0.501.00$27.50
BULL PUT (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$28.00$27.00Jul 17$0.70$0.70$0.302.33$27.30
$26.00$25.00Aug 21$0.57$0.57$0.431.33$25.43
$25.00$24.00Aug 21$0.47$0.47$0.530.89$24.53
$25.50$25.00Jul 17$0.23$0.23$0.270.85$25.27
$27.00$26.00Aug 21$0.42$0.42$0.580.72$26.58

Same strike, different expirations. Sell near-term, buy far-term. Profits from time decay differential. 15 found (avg debit $0.22, cheapest $0.05)

CALLS (5)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$30.00Jul 17Jul 31$0.0545.9%34.5%
$29.00Jul 10Jul 17$0.0752.7%44.4%
$27.50Jul 10Jul 17$0.0942.6%33.7%
$26.00Jul 10Jul 17$0.1255.5%41.7%
$28.00Jul 10Jul 17$0.1739.2%44.1%
PUTS (5)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$21.00Jul 17Aug 21$0.0778.7%45.7%
$23.00Jul 17Aug 21$0.1254.9%35.3%
$24.00Jul 10Jul 17$0.1363.3%50.7%
$25.00Jul 10Jul 17$0.1760.4%44.5%
$26.00Jul 10Jul 17$0.2555.5%41.7%

Buy call + put at the same strike and expiry. Profits from large moves in either direction. 12 found (cheapest 4.21% of stock, avg 8.53%)

StrikeExpiryCall$Put$TotalBE LowBE HighCost%
$26.00Jul 10$0.72$0.38$1.10$24.90$27.104.21%
$27.00Jul 17$0.40$1.03$1.43$25.57$28.435.47%
$26.00Jul 17$0.84$0.63$1.47$24.53$27.475.63%
$25.00Jul 17$1.21$0.30$1.51$23.49$26.515.78%
$25.50Jul 10$1.51$0.22$1.73$23.77$27.236.62%
$28.00Jul 17$0.19$1.73$1.92$26.08$29.927.35%
$25.50Jul 17$1.88$0.53$2.41$23.09$27.919.23%
$24.00Jul 17$2.39$0.16$2.55$21.45$26.559.76%
$26.00Aug 14$1.78$1.03$2.81$23.19$28.8110.76%
$27.00Aug 21$1.26$1.79$3.05$23.95$30.0511.68%

Buy OTM call + OTM put at different strikes. Cheaper than straddles, needs bigger move to profit. 57 found (cheapest 0.46% of stock, avg 3.42%)

Call KPut KExpiryCall$Put$TotalBE LowBE High
$27.50$24.50Jul 10$0.07$0.05$0.12$24.38$27.62
$27.00$24.50Jul 10$0.10$0.05$0.15$24.35$27.15
$27.50$25.00Jul 10$0.07$0.13$0.20$24.80$27.70
$27.00$25.00Jul 10$0.10$0.13$0.23$24.77$27.23
$26.50$24.50Jul 10$0.21$0.05$0.26$24.24$26.76
$27.50$25.50Jul 10$0.07$0.22$0.29$25.21$27.79
$27.00$25.50Jul 10$0.10$0.22$0.32$25.18$27.32
$27.50$24.00Jul 17$0.16$0.16$0.32$23.68$27.82
$26.50$25.00Jul 10$0.21$0.13$0.34$24.66$26.84
$28.00$24.00Jul 17$0.19$0.16$0.35$23.65$28.35

Sell OTM put spread + OTM call spread. Collect premium, profit if stock stays between breakevens. 23 found (best R:R 6.69, avg credit $0.57)

Put SpreadCall SpreadExpiryCreditMax LossR:RBE LowBE High
25/2629/30Aug 21$0.87$0.136.69$25.13$29.87
21/2224/24Jul 17$0.85$0.155.67$21.15$24.35
25/2628/29Aug 21$0.85$0.155.67$25.15$28.85
23/2426/27Aug 21$0.84$0.165.25$23.16$26.84
24/2529/30Aug 21$0.77$0.233.35$24.23$29.77
24/2528/29Aug 21$0.75$0.253.00$24.25$28.75
21/2223/24Jul 17$0.72$0.282.57$21.28$23.72
26/2729/30Aug 21$0.72$0.282.57$26.28$29.72
26/2728/29Aug 21$0.70$0.302.33$26.30$28.70
23/2427/28Aug 21$0.63$0.371.70$23.37$27.63

Buy lower + upper strikes, sell 2x middle strike. Low cost, max profit at the middle strike at expiry. 16 found (best R:R 15.67, cheapest $0.06)

CALLS (5)
LowMidHighExpiryDebitMax GainR:R
$28.00$29.00$30.00Jul 17$0.06$0.9415.67
$26.00$26.50$27.00Jul 17$0.06$0.447.33
$26.50$27.00$27.50Jul 10$0.08$0.425.25
$26.00$27.00$28.00Aug 21$0.21$0.793.76
$27.00$28.00$29.00Aug 21$0.22$0.783.55
PUTS (5)
LowMidHighExpiryDebitMax GainR:R
$23.00$24.00$25.00Jul 17$0.06$0.9415.67
$24.00$25.00$26.00Aug 21$0.10$0.909.00
$24.00$24.50$25.00Jul 10$0.06$0.447.33
$22.00$23.00$24.00Aug 21$0.12$0.887.33
$25.00$25.50$26.00Jul 10$0.07$0.436.14

Buy 1 option, sell 2 at a different strike (1:2 ratio). Can be entered for a credit. Unlimited risk on naked leg. 33 found (best net $--, 20 credits)

CALLS (5)
Buy KSell KRatioExpiryNetMax Gain
$28.00$29.001:2Jul 10$0.00$1.00
$28.00$29.001:2Aug 21-$0.20$0.80
$27.00$28.001:2Aug 21-$0.26$0.74
$27.00$28.001:2Jul 31-$0.48$0.52
$26.00$27.001:2Aug 21-$0.55$0.45
PUTS (5)
Buy KSell KRatioExpiryNetMax Gain
$24.00$23.001:2Jul 17$0.00$1.00
$22.00$21.001:2Aug 21-$0.07$0.93
$24.00$23.001:2Aug 21-$0.07$0.93
$23.00$22.001:2Aug 21-$0.18$0.82
$27.00$26.001:2Jul 17-$0.23$0.77

Sell OTM calls against 100 shares you own. Collect premium for income, capped upside at strike. Yield% = premium/stock price. 12 found (best yield 4.59%, avg 1.39%)

StrikeExpiryBidDeltaOTM%Yield%If Called%VolOI
$27.00Aug 21$1.200.483.4%4.59%7.96%253.2K
$28.00Aug 21$0.670.367.2%2.57%9.76%6859.4K
$27.00Jul 24$0.550.413.4%2.11%5.47%48247
$29.00Aug 21$0.430.2611.0%1.65%12.67%60397.6K
$27.00Jul 17$0.350.343.4%1.34%4.71%1.2K13.4K
$28.00Jul 31$0.350.307.2%1.34%8.54%8--
$28.00Jul 24$0.190.257.2%0.73%7.92%30119.1K
$28.00Jul 17$0.180.197.2%0.69%7.89%2.5K51.9K
$30.00Aug 21$0.160.1314.8%0.61%15.47%2--
$26.50Jul 17$0.130.451.4%0.50%1.95%5--

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 21,448
Total Puts 223,483
Put/Call Ratio 10.42
Net Difference -202,035

Prior's Put/Call Breakdown

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

Prior 7-Day Put/Call Summary

Total Calls 163,725
Total Puts 250,232
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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