Tour v344
WBD
WARNER BROS DISCOVER Series A
$27.29 +0.07%
$27.38 (+0.33%)🌙
as of 07/16 07:12 PM
(7/15 19:19) ◀
|
Thursday, July 16, 2026 (7:12pm)
January 2026
|
▶ (7/17 19:29)
◀ 7/16 19:12 ▶

Option Volume

Detail
ℹ
Current (07/16) 98,644
Calls: 33,653 (34%)
Puts: 64,991 (66%)
Prior (07/15) 46,070
Calls: 36,445 (79%)
Puts: 9,625 (21%)
Current vs Prior +114.12%
Calls: -7.66% (Calls)
Puts: +575.23% (Puts)
Prior 7-Day Total 978,170
Calls: 392,649 (40%)
Puts: 585,521 (60%)
Prior 7-Day Average 139,738
Calls: 56,092 (40%)
Puts: 83,645 (60%)
Current vs Prior 7-Day Avg -29.41%
Calls: -40.00%
Puts: -22.30%
Sentiment BEARISH

Dollar Volume

Detail
ℹ
Current (07/16) $9.78M
Calls: $2.36M (24%)
Puts: $7.42M (76%)
Prior (07/15) $3.26M
Calls: $2.85M (87%)
Puts: $410.8K (13%)
Current vs Prior +200.03%
Calls: -17.11%
Puts: +1705.51%
Prior 7-Day Total $78.30M
Calls: $22.57M (29%)
Puts: $55.74M (71%)
Prior 7-Day Average $11.19M
Calls: $3.22M (29%)
Puts: $7.96M (71%)
Current vs Prior 7-Day Avg -12.59%
Calls: -26.77%
Puts: -6.85%
Sentiment BEARISH

Put/Call Ratio

Detail
ℹ
Current (07/16) 1.93
Prior (07/15) 0.26
Current vs Prior +631.25%
Prior 7-Day Average 1.81
Current vs Prior 7-Day Avg +6.83%
Sentiment BEARISH

Open Interest

Detail
ℹ
Current (07/16) 1,845,555
Calls: 658,393 (36%)
Puts: 1,187,162 (64%)
Prior (07/15) 1,823,726
Calls: 621,795 (34%)
Puts: 1,201,931 (66%)
Current vs Prior +1.20%
Prior 7-Day Total 11,364,824
Calls: 3,917,950 (34%)
Puts: 7,446,874 (66%)
Prior 7-Day Average 1,623,546
Calls: 559,707 (34%)
Puts: 1,063,839 (66%)
Current vs Prior 7-Day Avg +13.67%
Sentiment BULLISH

Expected Move

Detail
ℹ
Expiry (07/17) | Next (07/24)Expiry (07/17) | Next (08/21)
Current 7.00% | 7.15%7.00% | 10.44%
Prior 4.22% | 7.63%4.22% | 9.86%
Current vs Prior +65.97% | -6.32%+65.96% | +5.87%
Prior 7-Day Avg 5.20% | 8.41%6.14% | 12.55%
Current vs 7-Day Avg +34.58% | -15.08%+13.91% | -16.78%
Prior 7-Day Eod 4.22% | 7.63%4.22% | 9.86%
Current vs 7-Day Eod +65.97% | -6.32%+65.96% | +5.87%
Sentiment BEARISHBEARISH

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 34.07% | 95.34%
Calls: 24.39% | 42.00%
Puts: 43.75% | 148.68%
Current vs 7-Day Avg +0.00% | +0.00%
Liquidity Expensive
+
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🤖 AI Insights

Strong bearish conviction with 76% of dollar volume in puts ($7.42M) vs calls ($2.36M). Massive premium surge with dollar volume up 200% vs prior. Unusually high activity with volume up 114% vs prior - elevated interest. Extreme bearish P/C ratio of 1.93 - heavy put buying.

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 BEARISH
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 6.5%, best 6.5%)

CALLS (0)
No calls meet the criteria
PUTS (1)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$25.00Aug 210.300.32$0.316.5%7.5K0.1947.6K

Affordable options under $1.00 per contract. Great for defined-risk strategies with minimal capital. 4 found (avg $0.48, cheapest $0.18)

CALLS (3)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$30.00Aug 210.170.19$0.1811.1%9.7K0.1542.7K
$29.00Aug 210.470.55$0.5115.7%1.1K0.29140.5K
$28.00Aug 210.851.03$0.9419.1%12.7K0.4362.1K
PUTS (1)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$25.00Aug 210.300.32$0.316.5%7.5K0.1947.6K

In-the-money options with delta >0.50. Higher probability of profit, lower leverage. 24 found (avg delta 0.80, highest 1.00)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$22.00Jul 173.357.30$5.3374.1%31.0096
$23.00Jul 172.446.30$4.3788.3%41.0059
$23.50Jul 171.655.80$3.72111.6%51.0030
$24.00Jul 171.155.30$3.22128.9%51.0086
$24.50Jul 170.654.80$2.73152.0%61.00--
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$31.00Jul 172.105.85$3.9794.5%10.96--
$30.00Jul 172.274.85$3.5672.5%10.94--
$29.00Jul 170.554.00$2.28151.3%40.91--
$28.50Jul 170.913.50$2.21117.2%550.901
$28.00Jul 170.690.92$0.8128.4%660.8310.0K

Most actively traded options today. High liquidity = easy entry/exit. 60 active (total vol 47.7K, top 12.7K)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.00Aug 210.851.03$0.9419.1%12.7K0.4362.1K
$30.00Aug 210.170.19$0.1811.1%9.7K0.1542.7K
$28.00Jul 170.100.16$0.1346.2%3.3K0.1949.7K
$27.00Jul 170.360.71$0.5366.0%1.4K0.5215.1K
$29.00Aug 210.470.55$0.5115.7%1.1K0.29140.5K
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$27.00Jul 170.160.20$0.1822.2%8.6K0.6221.4K
$25.00Aug 210.300.32$0.316.5%7.5K0.1947.6K
$27.00Aug 210.941.20$1.0724.3%7310.456.6K
$26.00Jul 240.150.19$0.1723.5%3580.2146
$24.00Jul 170.010.04$0.03100.0%1880.0424.9K

Term structure inversion — near-term IV higher than far-term IV at the same strike. Signals expected near-term catalyst or volatility event. 12 strikes (avg 241.9%, max 471.7%)

CALLS (5)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$26.50Jul 17Jul 24193.2%33.8%471.7%9123
$31.00Jul 17Aug 7133.9%24.8%440.4%54.8K
$27.00Jul 17Aug 21128.5%35.0%267.1%1.8K18.1K
$29.00Jul 17Aug 21117.7%33.8%248.6%1.4K200.1K
$30.00Jul 17Aug 28133.7%43.0%211.0%820.9K
PUTS (5)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$26.50Jul 17Jul 24193.2%33.8%471.7%1752.5K
$27.00Jul 17Aug 21128.5%35.0%267.1%9.4K28.0K
$25.00Jul 17Aug 2170.9%33.1%114.2%7.5K129.3K
$25.50Jul 17Jul 24107.5%55.4%94.0%41.5K
$24.00Jul 17Jul 24108.6%65.5%65.7%25026.0K

Bull call spreads & bear put spreads with the best risk/reward ratios. Pay a debit upfront, defined max loss. 20 found (best R:R 7.33, avg 2.27)

BULL CALL (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$28.00$29.00Jul 24$0.12$0.88$0.127.33$28.12
$27.00$30.00Jul 31$0.56$2.44$0.564.36$27.56
$28.00$29.00Aug 14$0.21$0.79$0.213.76$28.21
$28.00$31.00Aug 7$0.75$2.25$0.753.00$28.75
$29.00$30.00Aug 21$0.33$0.67$0.332.03$29.33
BEAR PUT (5)
BuySellExpiryDebitMax GainMax LossR:RBE
$26.00$25.00Aug 21$0.18$0.82$0.184.56$25.82
$27.00$26.50Jul 17$0.11$0.39$0.113.55$26.89
$26.50$26.00Jul 24$0.13$0.37$0.132.85$26.37
$27.00$26.50Jul 24$0.13$0.37$0.132.85$26.87
$31.00$30.00Jul 17$0.41$0.59$0.411.44$30.59

Bear call spreads & bull put spreads collecting premium. Receive credit upfront, profit if stock stays in range. 23 found (best R:R 5.25, avg 1.09)

BEAR CALL (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$27.00$28.00Aug 7$0.84$0.84$0.165.25$27.84
$27.00$28.00Aug 14$0.74$0.74$0.262.85$27.74
$26.00$27.00Aug 21$0.67$0.67$0.332.03$26.67
$27.00$27.50Jul 17$0.32$0.32$0.181.78$27.32
$29.00$30.00Aug 14$0.47$0.47$0.530.89$29.47
BULL PUT (5)
SellBuyExpiryCreditMax GainMax LossR:RBE
$28.00$27.00Jul 17$0.63$0.63$0.371.70$27.37
$29.50$29.00Jul 17$0.31$0.31$0.191.63$29.19
$27.00$26.00Aug 21$0.58$0.58$0.421.38$26.42
$25.50$25.00Jul 24$0.26$0.26$0.241.08$25.24
$25.50$25.00Jul 17$0.21$0.21$0.290.72$25.29

Same strike, different expirations. Sell near-term, buy far-term. Profits from time decay differential. 9 found (avg debit $0.24, cheapest $0.06)

CALLS (5)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$29.00Jul 17Jul 24$0.06117.7%39.5%
$28.00Jul 17Jul 24$0.09110.8%35.3%
$26.50Jul 17Jul 24$0.22193.2%33.8%
$26.00Jul 17Aug 21$0.4324.0%29.6%
$27.50Jul 17Jul 24$0.65100.0%65.6%
PUTS (4)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$24.00Jul 17Jul 24$0.10108.6%65.5%
$26.00Jul 17Jul 24$0.1424.0%35.1%
$26.50Jul 17Jul 24$0.23193.2%33.8%
$27.00Jul 17Jul 24$0.25128.5%29.2%

Buy call + put at the same strike and expiry. Profits from large moves in either direction. 16 found (cheapest 2.60% of stock, avg 8.13%)

StrikeExpiryCall$Put$TotalBE LowBE HighCost%
$27.00Jul 17$0.53$0.18$0.71$26.29$27.712.60%
$28.00Jul 17$0.13$0.81$0.94$27.06$28.943.44%
$27.00Jul 24$0.52$0.43$0.95$26.05$27.953.48%
$26.50Jul 17$1.10$0.07$1.17$25.33$27.674.29%
$26.50Jul 24$1.32$0.30$1.62$24.88$28.125.94%
$26.00Jul 17$1.65$0.03$1.68$24.32$27.686.16%
$28.50Jul 17$0.06$2.21$2.27$26.23$30.778.32%
$29.00Jul 17$0.04$2.28$2.32$26.68$31.328.50%
$25.50Jul 17$2.15$0.24$2.39$23.11$27.898.76%
$27.00Aug 21$1.41$1.07$2.48$24.52$29.489.09%

Buy OTM call + OTM put at different strikes. Cheaper than straddles, needs bigger move to profit. 45 found (cheapest 0.26% of stock, avg 2.19%)

Call KPut KExpiryCall$Put$TotalBE LowBE High
$29.00$26.00Jul 17$0.04$0.03$0.07$25.93$29.07
$29.00$25.00Jul 17$0.04$0.03$0.07$24.93$29.07
$28.50$26.00Jul 17$0.06$0.03$0.09$25.91$28.59
$28.50$25.00Jul 17$0.06$0.03$0.09$24.91$28.59
$29.00$26.50Jul 17$0.04$0.07$0.11$26.39$29.11
$28.50$26.50Jul 17$0.06$0.07$0.13$26.37$28.63
$28.00$26.00Jul 17$0.13$0.03$0.16$25.84$28.16
$28.00$25.00Jul 17$0.13$0.03$0.16$24.84$28.16
$28.00$26.50Jul 17$0.13$0.07$0.20$26.30$28.20
$29.00$24.00Jul 24$0.10$0.13$0.23$23.77$29.23

Sell OTM put spread + OTM call spread. Collect premium, profit if stock stays between breakevens. 8 found (best R:R 5.67, avg credit $0.48)

Put SpreadCall SpreadExpiryCreditMax LossR:RBE LowBE High
27/2830/30Jul 17$0.85$0.155.67$27.15$30.35
26/2730/30Jul 17$0.33$0.171.94$26.67$29.83
25/2627/28Aug 21$0.65$0.351.86$25.35$27.65
25/2628/29Aug 21$0.61$0.391.56$25.39$28.61
25/2629/30Aug 21$0.51$0.491.04$25.49$29.51
25/2628/29Jul 24$0.38$0.620.61$25.12$28.38
26/2628/29Jul 24$0.25$0.750.33$26.25$28.25
26/2728/29Jul 24$0.25$0.750.33$26.75$28.25

Buy lower + upper strikes, sell 2x middle strike. Low cost, max profit at the middle strike at expiry. 14 found (best R:R 9.00, cheapest $0.05)

CALLS (5)
LowMidHighExpiryDebitMax GainR:R
$28.00$28.50$29.00Jul 17$0.05$0.459.00
$28.00$29.00$30.00Aug 21$0.10$0.909.00
$25.00$25.50$26.00Jul 17$0.09$0.414.56
$26.00$27.00$28.00Aug 21$0.20$0.804.00
$23.00$23.50$24.00Jul 17$0.15$0.352.33
PUTS (5)
LowMidHighExpiryDebitMax GainR:R
$26.00$26.50$27.00Jul 17$0.07$0.436.14
$25.00$26.00$27.00Aug 21$0.40$0.601.50
$28.50$29.00$29.50Jul 17$0.24$0.261.08
$25.50$26.00$26.50Jul 17$0.25$0.251.00
$25.50$26.00$26.50Jul 24$0.25$0.251.00

Buy 1 option, sell 2 at a different strike (1:2 ratio). Can be entered for a credit. Unlimited risk on naked leg. 26 found (best net $--, 13 credits)

CALLS (5)
Buy KSell KRatioExpiryNetMax Gain
$30.00$31.001:2Jul 17$0.00$1.00
$28.00$29.001:2Aug 21-$0.08$0.92
$27.00$28.001:2Aug 14-$0.10$0.90
$28.00$29.001:2Aug 14-$0.42$0.58
$27.00$28.001:2Aug 21-$0.47$0.53
PUTS (5)
Buy KSell KRatioExpiryNetMax Gain
$26.00$25.001:2Aug 21-$0.13$0.87
$25.00$24.001:2Jul 24-$0.23$0.77
$27.00$26.501:2Jul 24-$0.17$0.33
$26.00$25.501:2Jul 24-$0.41$0.09
$26.00$25.501:2Jul 17-$0.45$0.05

Sell OTM calls against 100 shares you own. Collect premium for income, capped upside at strike. Yield% = premium/stock price. 9 found (best yield 3.11%, avg 1.26%)

StrikeExpiryBidDeltaOTM%Yield%If Called%VolOI
$28.00Aug 21$0.850.432.6%3.11%5.72%12.7K62.1K
$28.00Aug 14$0.670.402.6%2.46%5.06%4200
$29.00Aug 21$0.470.296.3%1.72%7.99%1.1K140.5K
$28.00Aug 7$0.350.442.6%1.28%3.88%1298
$30.00Aug 28$0.180.269.9%0.66%10.59%1--
$30.00Aug 21$0.170.159.9%0.62%10.55%9.7K42.7K
$27.50Jul 17$0.160.310.8%0.59%1.36%912.6K
$28.00Jul 24$0.150.272.6%0.55%3.15%953.1K
$28.00Jul 17$0.100.192.6%0.37%2.97%3.3K49.7K

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 33,653
Total Puts 64,991
Put/Call Ratio 1.93
Net Difference -31,338

Prior's Put/Call Breakdown

Total Calls 36,445
Total Puts 9,625
Put/Call Ratio 0.26
Net Difference 26,820

Prior 7-Day Put/Call Summary

Total Calls 392,649
Total Puts 585,521
Average Put/Call Ratio 1.81
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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