Tour v526
WBD
WARNER BROS DISCOVER Series A
$28.23 -1.05%
(8/19 19:13) ◀
|
Thursday, August 20, 2026 (7:17pm)
January 2026
|
▶ (8/21 19:19)
◀ 8/20 19:17 ▶

Option Volume

Detail
ℹ
Current (08/20) 65,564
Calls: 21,370 (33%)
Puts: 44,194 (67%)
Prior (08/19) 65,211
Calls: 43,877 (67%)
Puts: 21,334 (33%)
Current vs Prior +0.54%
Calls: -51.30% (Calls)
Puts: +107.15% (Puts)
Prior 7-Day Total 638,808
Calls: 286,344 (45%)
Puts: 352,464 (55%)
Prior 7-Day Average 91,258
Calls: 40,906 (45%)
Puts: 50,352 (55%)
Current vs Prior 7-Day Avg -28.16%
Calls: -47.76%
Puts: -12.23%
Sentiment BEARISH

Dollar Volume

Detail
ℹ
Current (08/20) $2.03M
Calls: $655.5K (32%)
Puts: $1.38M (68%)
Prior (08/19) $2.75M
Calls: $1.91M (70%)
Puts: $835.8K (30%)
Current vs Prior -26.00%
Calls: -65.68%
Puts: +64.65%
Prior 7-Day Total $29.46M
Calls: $17.24M (59%)
Puts: $12.23M (41%)
Prior 7-Day Average $4.21M
Calls: $2.46M (59%)
Puts: $1.75M (41%)
Current vs Prior 7-Day Avg -51.73%
Calls: -73.38%
Puts: -21.21%
Sentiment BEARISH

Put/Call Ratio

Detail
ℹ
Current (08/20) 2.07
Prior (08/19) 0.49
Current vs Prior +325.33%
Prior 7-Day Average 1.48
Current vs Prior 7-Day Avg +39.61%
Sentiment BEARISH

Open Interest

Detail
ℹ
Current (08/20) 1,849,486
Calls: 810,863 (44%)
Puts: 1,038,623 (56%)
Prior (08/19) 1,666,209
Calls: 851,445 (51%)
Puts: 814,764 (49%)
Current vs Prior +11.00%
Prior 7-Day Total 13,420,608
Calls: 5,523,439 (41%)
Puts: 7,897,169 (59%)
Prior 7-Day Average 1,917,229
Calls: 789,062 (41%)
Puts: 1,128,167 (59%)
Current vs Prior 7-Day Avg -3.53%
Sentiment BULLISH

Expected Move

Detail
ℹ
Expiry (08/21) | Next (08/28)Expiry (08/21) | Next (09/18)
Current 3.12% | 6.41%3.12% | 8.04%
Prior 2.77% | 6.13%2.77% | 6.87%
Current vs Prior +12.58% | +4.53%+12.58% | +17.05%
Prior 7-Day Avg 3.37% | 5.85%3.97% | 7.26%
Current vs 7-Day Avg -7.50% | +9.56%-21.38% | +10.77%
Prior 7-Day Eod 2.77% | 6.13%2.77% | 6.87%
Current vs 7-Day Eod +12.58% | +4.53%+12.58% | +17.05%
Sentiment BEARISHBEARISH

Relative Spread

Detail
ℹ
Expiry | Next
Current 59.52% | 103.57%
Calls: 59.52% | 103.57%
Puts: -- | --
Prior 59.52% | 103.57%
Calls: 59.52% | 103.57%
Puts: -- | --
Current vs Prior +0.00% | +0.00%
Prior 7-Day Avg 59.52% | 103.57%
Calls: 59.52% | 103.57%
Puts: 59.52% | 103.57%
Current vs 7-Day Avg +0.00% | -0.00%
Liquidity Expensive
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🤖 AI Insights

Moderately bearish flow with 68% put dollar volume ($1.38M). Extreme bearish P/C ratio of 2.07 - heavy put buying. P/C ratio rising 325% - increased hedging/bearish positioning.

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 NEUTRAL
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 -- 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. 3 found (avg $0.41, cheapest $0.43)

CALLS (1)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$29.00Sep 180.400.46$0.4314.0%1.1K0.3660.9K
PUTS (2)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$27.00Sep 180.250.30$0.2817.9%1130.2419.3K
$28.00Sep 180.460.55$0.5117.6%2390.425.2K

In-the-money options with delta >0.50. Higher probability of profit, lower leverage. 20 found (avg delta 0.83, highest 1.00)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$24.50Aug 212.245.85$4.0589.1%20.99--
$25.00Aug 211.763.60$2.6868.7%10.99--
$25.50Aug 211.204.85$3.03120.5%20.99--
$26.00Aug 211.782.98$2.3850.4%40.997.4K
$26.50Aug 211.662.72$2.1948.4%60.98318
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$29.50Aug 210.022.35$1.19195.8%271.00288
$32.00Aug 212.205.85$4.0390.6%21.00--
$28.50Aug 280.381.86$1.12132.1%2.6K0.751
$28.50Aug 210.001.06$0.53200.0%210.66153
$28.00Aug 280.122.32$1.22180.3%1.0K0.57102

Most actively traded options today. High liquidity = easy entry/exit. 56 active (total vol 21.9K, top 12.7K)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$29.00Aug 210.040.05$0.0520.0%12.7K0.14128.1K
$29.00Sep 180.400.46$0.4314.0%1.1K0.3660.9K
$28.00Aug 210.300.40$0.3528.6%8340.73118.8K
$30.00Aug 210.000.01$0.01100.0%6420.0250.2K
$31.00Sep 180.000.01$0.01100.0%2500.0129.1K
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.50Aug 280.381.86$1.12132.1%2.6K0.751
$28.00Aug 280.122.32$1.22180.3%1.0K0.57102
$27.50Sep 40.000.15$0.08187.5%7070.19506
$28.00Sep 180.460.55$0.5117.6%2390.425.2K
$27.50Aug 280.030.05$0.0450.0%1910.47812

Term structure inversion — near-term IV higher than far-term IV at the same strike. Signals expected near-term catalyst or volatility event. 3 strikes (avg 33.5%, max 55.9%)

CALLS (1)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$28.50Aug 21Sep 441.6%34.4%20.9%421.3K
PUTS (2)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$28.00Aug 21Sep 1831.8%20.4%55.9%30614.1K
$28.50Aug 21Aug 2841.6%33.6%23.8%2.6K154

Bull call spreads & bear put spreads with the best risk/reward ratios. Pay a debit upfront, defined max loss. 12 found (best R:R 1.63, avg 2.89)

BULL CALL (5)
BuySellExpiryDebitMax GainMax LossPOPR:RBE
$26.00$26.50Aug 21$0.19$0.31$0.1999%1.63$26.19
$28.00$28.50Aug 21$0.21$0.29$0.2173%1.38$28.21
$28.00$29.00Sep 18$0.46$0.54$0.4659%1.17$28.46
$29.00$30.00Sep 18$0.24$0.76$0.2436%3.17$29.24
$30.00$31.00Sep 25$0.11$0.89$0.1113%8.09$30.11
BEAR PUT (3)
BuySellExpiryDebitMax GainMax LossPOPR:RBE
$29.50$28.50Aug 21$0.66$0.34$0.66100%0.52$28.84
$28.00$27.00Sep 18$0.23$0.77$0.2342%3.35$27.77
$27.00$26.00Sep 18$0.15$0.85$0.1524%5.67$26.85

Bear call spreads & bull put spreads collecting premium. Receive credit upfront, profit if stock stays in range. 8 found (best R:R 2.33, avg 0.56)

BEAR CALL (5)
SellBuyExpiryCreditMax GainMax LossPOPR:RBE
$29.50$30.00Aug 28$0.35$0.35$0.1575%2.33$29.85
$28.50$30.50Sep 4$0.56$0.56$1.4457%0.39$29.06
$29.00$30.00Sep 25$0.37$0.37$0.6369%0.59$29.37
$30.00$31.00Sep 18$0.18$0.18$0.8281%0.22$30.18
$30.00$31.00Sep 25$0.11$0.11$0.8987%0.12$30.11
BULL PUT (2)
SellBuyExpiryCreditMax GainMax LossPOPR:RBE
$27.00$26.00Sep 18$0.15$0.15$0.8576%0.18$26.85
$28.00$27.00Sep 18$0.23$0.23$0.7758%0.30$27.77

Same strike, different expirations. Sell near-term, buy far-term. Profits from time decay differential. 2 found (avg debit $0.33, cheapest $0.08)

CALLS (1)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$28.50Aug 21Aug 28$0.0841.6%33.6%
PUTS (1)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$28.50Aug 21Aug 28$0.5941.6%33.6%

Buy call + put at the same strike and expiry. Profits from large moves in either direction. 14 found (cheapest 1.52% of stock, avg 5.85%)

StrikeExpiryCall$Put$TotalBE LowBE HighCost%
$28.00Aug 21$0.35$0.08$0.43$27.57$28.431.52%
$28.50Aug 21$0.14$0.53$0.67$27.83$29.172.37%
$28.00Sep 11$0.49$0.34$0.83$27.17$28.832.94%
$29.50Aug 21$0.01$1.19$1.20$28.30$30.704.25%
$27.00Aug 21$1.27$0.01$1.28$25.72$28.284.53%
$28.50Aug 28$0.22$1.12$1.34$27.16$29.844.75%
$28.00Sep 18$0.89$0.51$1.40$26.60$29.404.96%
$27.50Aug 21$1.68$0.02$1.70$25.80$29.206.02%
$28.00Aug 28$0.69$1.22$1.91$26.09$29.916.77%
$27.00Sep 18$1.64$0.28$1.92$25.08$28.926.80%

Buy OTM call + OTM put at different strikes. Cheaper than straddles, needs bigger move to profit. 25 found (cheapest 0.25% of stock, avg 1.70%)

Call KPut KExpiryCall$Put$TotalBE LowBE High
$29.00$27.50Aug 21$0.05$0.02$0.07$27.43$29.07
$30.50$25.00Sep 4$0.04$0.05$0.09$24.91$30.59
$30.00$27.50Aug 28$0.03$0.04$0.07$27.43$30.07
$30.50$27.50Sep 4$0.04$0.08$0.12$27.38$30.62
$29.00$28.00Aug 21$0.05$0.08$0.13$27.87$29.13
$28.50$27.50Aug 21$0.14$0.02$0.16$27.34$28.66
$28.50$28.00Aug 21$0.14$0.08$0.22$27.78$28.72
$29.00$27.50Aug 28$0.14$0.04$0.18$27.32$29.18
$30.00$24.00Sep 18$0.19$0.07$0.26$23.74$30.26
$28.50$27.50Aug 28$0.22$0.04$0.26$27.24$28.76

Sell OTM put spread + OTM call spread. Collect premium, profit if stock stays between breakevens. 1 found (best R:R 0.49, avg credit $0.33)

Put SpreadCall SpreadExpiryCreditMax LossPOPR:RBE LowBE High
26/2730/31Sep 18$0.33$0.6757%0.49$26.67$30.33

Buy lower + upper strikes, sell 2x middle strike. Low cost, max profit at the middle strike at expiry. 14 found (best R:R 15.67, cheapest $0.05)

CALLS (5)
LowMidHighExpiryDebitMax GainPOPR:R
$29.00$30.00$31.00Sep 18$0.06$0.9435%15.67
$28.00$28.50$29.00Aug 21$0.12$0.3859%3.17
$28.00$29.00$30.00Sep 25$0.16$0.8436%5.25
$28.50$29.00$29.50Aug 21$0.05$0.4533%9.00
$28.00$29.00$30.00Sep 18$0.22$0.7839%3.55
PUTS (3)
LowMidHighExpiryDebitMax GainPOPR:R
$26.00$27.00$28.00Sep 18$0.08$0.9230%11.50
$25.00$26.00$27.00Sep 18$0.10$0.9016%9.00
$27.50$28.00$28.50Aug 21$0.39$0.1158%0.28

Buy 1 option, sell 2 at a different strike (1:2 ratio). Can be entered for a credit. Unlimited risk on naked leg. 21 found (best net $-0.14, 9 credits)

CALLS (5)
Buy KSell KRatioExpiryNetMax Gain
$27.00$28.001:2Sep 18-$0.14$0.86
$26.00$27.001:2Sep 18-$0.61$0.39
$26.50$27.001:2Aug 21-$0.35$0.15
$26.00$27.001:2Sep 11-$0.66$0.34
$28.50$29.001:2Aug 28-$0.06$0.44
PUTS (5)
Buy KSell KRatioExpiryNetMax Gain
$28.00$27.001:2Sep 18-$0.05$0.95
$27.50$25.001:2Sep 4-$0.02$2.48
$25.50$24.001:2Aug 21-$0.01$1.49
$25.00$24.001:2Sep 18-$0.06$0.94
$32.00$29.501:2Aug 21$1.65$0.85

Sell OTM calls against 100 shares you own. Collect premium for income, capped upside at strike. Yield% = premium/stock price. 6 found (best yield 1.42%, avg 0.70%)

StrikeExpiryBidDeltaOTM%Yield%If Called%VolOI
$29.00Sep 18$0.400.362.7%1.42%4.14%1.1K60.9K
$29.00Sep 25$0.370.312.7%1.31%4.04%61--
$30.00Sep 18$0.130.196.3%0.46%6.73%17046.3K
$29.00Aug 28$0.100.192.7%0.35%3.08%1632.4K
$28.50Aug 21$0.090.351.0%0.32%1.28%411.3K
$28.50Aug 28$0.100.311.0%0.35%1.31%2424

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 21,370
Total Puts 44,194
Put/Call Ratio 2.07
Net Difference -22,824

Prior's Put/Call Breakdown

Total Calls 43,877
Total Puts 21,334
Put/Call Ratio 0.49
Net Difference 22,543

Prior 7-Day Put/Call Summary

Total Calls 286,344
Total Puts 352,464
Average Put/Call Ratio 1.48
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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