Tour v526
WBD
WARNER BROS DISCOVER Series A
$28.77 -0.38%
$28.80 (+0.10%)🌙
as of 08/28 07:13 PM
(8/27 19:13) ◀
|
Friday, August 28, 2026 (7:13pm)
January 2026
|
▶ (8/31 19:13)
◀ 8/28 19:13 ▶

Option Volume

Detail
ℹ
Current (08/28) 31,646
Calls: 4,652 (15%)
Puts: 26,994 (85%)
Prior (08/27) 56,169
Calls: 25,778 (46%)
Puts: 30,391 (54%)
Current vs Prior -43.66%
Calls: -81.95% (Calls)
Puts: -11.18% (Puts)
Prior 7-Day Total 618,717
Calls: 253,477 (41%)
Puts: 365,240 (59%)
Prior 7-Day Average 88,388
Calls: 36,211 (41%)
Puts: 52,177 (59%)
Current vs Prior 7-Day Avg -64.20%
Calls: -87.15%
Puts: -48.26%
Sentiment BEARISH

Dollar Volume

Detail
ℹ
Current (08/28) $1.46M
Calls: $361.4K (25%)
Puts: $1.10M (75%)
Prior (08/27) $1.44M
Calls: $925.9K (64%)
Puts: $509.7K (36%)
Current vs Prior +1.78%
Calls: -60.97%
Puts: +115.77%
Prior 7-Day Total $43.21M
Calls: $29.43M (68%)
Puts: $13.78M (32%)
Prior 7-Day Average $6.17M
Calls: $4.20M (68%)
Puts: $1.97M (32%)
Current vs Prior 7-Day Avg -76.33%
Calls: -91.40%
Puts: -44.13%
Sentiment BEARISH

Put/Call Ratio

Detail
ℹ
Current (08/28) 5.80
Prior (08/27) 1.18
Current vs Prior +392.19%
Prior 7-Day Average 1.76
Current vs Prior 7-Day Avg +230.12%
Sentiment BEARISH

Open Interest

Detail
ℹ
Current (08/28) 1,141,815
Calls: 391,597 (34%)
Puts: 750,218 (66%)
Prior (08/27) 1,288,513
Calls: 452,865 (35%)
Puts: 835,648 (65%)
Current vs Prior -11.39%
Prior 7-Day Total 11,674,204
Calls: 4,607,099 (39%)
Puts: 7,067,105 (61%)
Prior 7-Day Average 1,667,743
Calls: 658,157 (39%)
Puts: 1,009,586 (61%)
Current vs Prior 7-Day Avg -31.54%
Sentiment BULLISH

Expected Move

Detail
ℹ
Expiry (08/28) | Next (09/04)Expiry (09/18) | Next (10/16)
Current 6.95% | 5.32%5.80% | 8.41%
Prior 1.63% | 2.74%6.89% | 9.21%
Current vs Prior +226.78% | +113.47%-15.76% | -8.67%
Prior 7-Day Avg 2.91% | 5.38%5.14% | 7.95%
Current vs 7-Day Avg +82.44% | +8.50%+13.01% | +5.82%
Prior 7-Day Eod 1.63% | 2.74%6.89% | 9.21%
Current vs 7-Day Eod +226.78% | +113.47%-15.76% | -8.67%
Sentiment BEARISHBULLISH

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

Strong bearish conviction with 75% of dollar volume in puts ($1.10M) vs calls ($361.4K). Below-average activity with volume down 44% vs prior. Extreme bearish P/C ratio of 5.80 - heavy put buying. P/C ratio rising 392% - 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 NEUTRAL
7-Day Avg NEUTRAL
Current BEARISH
Prior NEUTRAL
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 -- 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. 4 found (avg $0.28, cheapest $0.44)

CALLS (2)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$29.00Sep 180.400.47$0.4415.9%1450.4768.9K
$29.00Sep 250.500.61$0.5520.0%10.39657
PUTS (2)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$25.50Sep 180.060.07$0.0714.3%6310.06149
$25.00Sep 180.060.07$0.0714.3%5920.0637.0K

In-the-money options with delta >0.50. Higher probability of profit, lower leverage. 20 found (avg delta 0.79, highest 1.00)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$25.00Aug 281.815.85$3.83105.5%10.99--
$28.00Aug 280.101.50$0.80175.0%500.97335
$27.00Aug 280.952.75$1.8597.3%20.96--
$28.50Aug 280.001.65$0.83198.8%430.9462
$26.00Sep 182.203.20$2.7037.0%20.921.9K
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$29.00Aug 280.002.34$1.17200.0%91.00--
$31.00Aug 280.244.25$2.25178.2%21.00--
$29.00Sep 40.002.07$1.03201.0%270.781
$29.00Sep 110.002.69$1.35199.3%20.5845
$28.50Sep 40.100.15$0.1338.5%2530.5580

Most actively traded options today. High liquidity = easy entry/exit. 54 active (total vol 3.7K, top 818)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$30.00Sep 180.150.19$0.1723.5%8180.2258.2K
$29.00Aug 280.000.01$0.01100.0%3730.083.0K
$29.00Sep 180.400.47$0.4415.9%1450.4768.9K
$31.00Oct 90.000.04$0.02200.0%1350.04--
$32.00Oct 90.000.02$0.01200.0%950.02--
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$25.50Sep 180.060.07$0.0714.3%6310.06149
$25.00Sep 180.060.07$0.0714.3%5920.0637.0K
$28.50Sep 40.100.15$0.1338.5%2530.5580
$27.50Sep 40.000.05$0.03166.7%540.09--
$27.50Aug 280.000.01$0.01100.0%300.021.0K

Term structure inversion — near-term IV higher than far-term IV at the same strike. Signals expected near-term catalyst or volatility event. 1 strikes (avg 56.4%, max 56.4%)

CALLS (0)
No calls found
PUTS (1)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$26.00Sep 11Sep 1851.0%32.6%56.4%2124.6K

Bull call spreads & bear put spreads with the best risk/reward ratios. Pay a debit upfront, defined max loss. 8 found (best R:R 0.85, avg 2.75)

BULL CALL (4)
BuySellExpiryDebitMax GainMax LossPOPR:RBE
$29.00$30.00Sep 18$0.27$0.73$0.2746%2.70$29.27
$29.00$30.00Sep 25$0.34$0.66$0.3439%1.94$29.34
$30.00$31.00Sep 18$0.16$0.84$0.1622%5.25$30.16
$30.00$31.00Oct 2$0.26$0.74$0.2627%2.85$30.26
BEAR PUT (4)
BuySellExpiryDebitMax GainMax LossPOPR:RBE
$31.00$29.00Aug 28$1.08$0.92$1.08100%0.85$29.92
$29.00$28.50Sep 11$0.13$0.37$0.1358%2.85$28.87
$28.50$28.00Sep 4$0.10$0.40$0.1055%4.00$28.40
$28.50$26.00Sep 11$0.97$1.53$0.9747%1.58$27.53

Bear call spreads & bull put spreads collecting premium. Receive credit upfront, profit if stock stays in range. 7 found (best R:R 0.63, avg 0.74)

BEAR CALL (5)
SellBuyExpiryCreditMax GainMax LossPOPR:RBE
$29.00$29.50Sep 11$0.37$0.37$0.1358%2.85$29.37
$30.00$31.00Oct 2$0.26$0.26$0.7473%0.35$30.26
$30.00$31.00Sep 18$0.16$0.16$0.8478%0.19$30.16
$29.00$30.00Sep 25$0.34$0.34$0.6661%0.52$29.34
$29.00$30.00Sep 18$0.27$0.27$0.7354%0.37$29.27
BULL PUT (2)
SellBuyExpiryCreditMax GainMax LossPOPR:RBE
$28.50$26.00Sep 11$0.97$0.97$1.5353%0.63$27.53
$28.50$28.00Sep 4$0.10$0.10$0.4045%0.25$28.40

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

No setups found for this strategy

Buy call + put at the same strike and expiry. Profits from large moves in either direction. 9 found (cheapest 2.19% of stock, avg 5.14%)

StrikeExpiryCall$Put$TotalBE LowBE HighCost%
$28.50Sep 4$0.50$0.13$0.63$27.87$29.132.19%
$28.50Aug 28$0.83$0.01$0.84$27.66$29.342.92%
$29.00Sep 4$0.13$1.03$1.16$27.84$30.164.03%
$29.00Aug 28$0.01$1.17$1.18$27.82$30.184.10%
$28.00Sep 18$1.12$0.18$1.30$26.70$29.304.52%
$28.50Sep 11$0.33$1.22$1.55$26.95$30.055.39%
$29.00Sep 11$0.50$1.35$1.85$27.15$30.856.43%
$27.00Sep 18$1.80$0.20$2.00$25.00$29.006.95%
$26.00Sep 18$2.70$0.09$2.79$23.21$28.799.70%

Buy OTM call + OTM put at different strikes. Cheaper than straddles, needs bigger move to profit. 23 found (cheapest 0.07% of stock, avg 2.32%)

Call KPut KExpiryCall$Put$TotalBE LowBE High
$29.00$28.50Aug 28$0.01$0.01$0.02$28.48$29.02
$30.00$27.50Sep 4$0.02$0.03$0.05$27.45$30.05
$30.00$28.00Sep 4$0.02$0.03$0.05$27.95$30.05
$29.50$28.00Sep 4$0.07$0.03$0.10$27.90$29.60
$29.50$27.50Sep 4$0.07$0.03$0.10$27.40$29.60
$29.00$28.00Sep 4$0.13$0.03$0.16$27.84$29.16
$29.00$27.50Sep 4$0.13$0.03$0.16$27.34$29.16
$30.00$26.00Sep 18$0.17$0.09$0.26$25.74$30.26
$30.00$26.00Sep 11$0.10$0.25$0.35$25.65$30.35
$30.00$28.00Sep 18$0.17$0.18$0.35$27.65$30.35

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

No iron condor setups found

Buy lower + upper strikes, sell 2x middle strike. Low cost, max profit at the middle strike at expiry. 9 found (best R:R 8.09, cheapest $0.05)

CALLS (5)
LowMidHighExpiryDebitMax GainPOPR:R
$29.00$30.00$31.00Sep 18$0.11$0.8944%8.09
$29.50$30.00$30.50Sep 4$0.05$0.4510%9.00
$28.00$29.00$30.00Sep 18$0.41$0.5955%1.44
$30.00$31.00$32.00Oct 2$0.25$0.7525%3.00
$26.00$27.00$28.00Sep 18$0.22$0.7815%3.55
PUTS (1)
LowMidHighExpiryDebitMax GainPOPR:R
$27.50$28.00$28.50Sep 4$0.10$0.4046%4.00

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 $-0.09, 9 credits)

CALLS (5)
Buy KSell KRatioExpiryNetMax Gain
$27.00$28.001:2Sep 18-$0.44$0.56
$31.00$32.001:2Oct 9$0.00$1.00
$31.00$32.001:2Oct 2$0.00$1.00
$29.50$30.001:2Sep 11-$0.07$0.43
$26.00$27.001:2Sep 18-$0.90$0.10
PUTS (5)
Buy KSell KRatioExpiryNetMax Gain
$31.00$29.001:2Aug 28-$0.09$1.91
$26.00$25.501:2Sep 18-$0.05$0.45
$28.00$27.001:2Sep 18-$0.22$0.78
$25.50$25.001:2Sep 18-$0.07$0.43
$28.50$28.001:2Sep 4$0.07$0.43

Sell OTM calls against 100 shares you own. Collect premium for income, capped upside at strike. Yield% = premium/stock price. 5 found (best yield 1.74%, avg 0.97%)

StrikeExpiryBidDeltaOTM%Yield%If Called%VolOI
$29.00Sep 25$0.500.390.8%1.74%2.54%1657
$30.00Oct 2$0.200.274.3%0.70%4.97%620
$29.00Sep 18$0.400.470.8%1.39%2.19%14568.9K
$30.00Sep 18$0.150.224.3%0.52%4.80%81858.2K
$30.00Sep 25$0.150.204.3%0.52%4.80%53--

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 4,652
Total Puts 26,994
Put/Call Ratio 5.80
Net Difference -22,342

Prior's Put/Call Breakdown

Total Calls 25,778
Total Puts 30,391
Put/Call Ratio 1.18
Net Difference -4,613

Prior 7-Day Put/Call Summary

Total Calls 253,477
Total Puts 365,240
Average Put/Call Ratio 1.76
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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