Tour v526
WBD
WARNER BROS DISCOVER Series A
$28.53 -0.83%
$28.48 (-0.18%)🌙
as of 08/31 07:13 PM
(8/28 19:13) ◀
|
Monday, August 31, 2026 (7:13pm)
January 2026
|
▶
◀ 8/31 19:13

Option Volume

Detail
ℹ
Current (08/31) 63,782
Calls: 20,634 (32%)
Puts: 43,148 (68%)
Prior (08/28) 31,646
Calls: 4,652 (15%)
Puts: 26,994 (85%)
Current vs Prior +101.55%
Calls: +343.55% (Calls)
Puts: +59.84% (Puts)
Prior 7-Day Total 550,028
Calls: 200,392 (36%)
Puts: 349,636 (64%)
Prior 7-Day Average 78,575
Calls: 28,627 (36%)
Puts: 49,948 (64%)
Current vs Prior 7-Day Avg -18.83%
Calls: -27.92%
Puts: -13.61%
Sentiment BEARISH

Dollar Volume

Detail
ℹ
Current (08/31) $3.88M
Calls: $2.13M (55%)
Puts: $1.74M (45%)
Prior (08/28) $1.46M
Calls: $361.4K (25%)
Puts: $1.10M (75%)
Current vs Prior +165.25%
Calls: +490.58%
Puts: +58.35%
Prior 7-Day Total $39.22M
Calls: $25.52M (65%)
Puts: $13.71M (35%)
Prior 7-Day Average $5.60M
Calls: $3.65M (65%)
Puts: $1.96M (35%)
Current vs Prior 7-Day Avg -30.83%
Calls: -41.45%
Puts: -11.06%
Sentiment BULLISH

Put/Call Ratio

Detail
ℹ
Current (08/31) 2.09
Prior (08/28) 5.80
Current vs Prior -63.96%
Prior 7-Day Average 2.37
Current vs Prior 7-Day Avg -11.64%
Sentiment BEARISH

Open Interest

Detail
ℹ
Current (08/31) 1,224,359
Calls: 429,244 (35%)
Puts: 795,115 (65%)
Prior (08/28) 1,141,815
Calls: 391,597 (34%)
Puts: 750,218 (66%)
Current vs Prior +7.23%
Prior 7-Day Total 10,534,203
Calls: 4,143,856 (39%)
Puts: 6,390,347 (61%)
Prior 7-Day Average 1,504,886
Calls: 591,979 (39%)
Puts: 912,906 (61%)
Current vs Prior 7-Day Avg -18.64%
Sentiment BULLISH

Expected Move

Detail
ℹ
Expiry (09/04) | Next (09/11)Expiry (09/18) | Next (10/16)
Current 5.36% | 6.48%9.81% | 9.25%
Prior 5.32% | 5.84%5.80% | 8.41%
Current vs Prior +0.84% | +11.05%+69.07% | +10.01%
Prior 7-Day Avg 3.14% | 5.74%5.43% | 7.99%
Current vs 7-Day Avg +70.90% | +12.98%+80.77% | +15.79%
Prior 7-Day Eod 5.32% | 5.84%5.80% | 8.41%
Current vs 7-Day Eod +0.84% | +11.05%+69.07% | +10.01%
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

Massive premium surge with dollar volume up 165% vs prior. Unusually high activity with volume up 102% vs prior - elevated interest. Extreme bearish P/C ratio of 2.09 - heavy put buying. P/C ratio dropping 64% - sentiment shifting bullish.

Smart Money BULLISH
Retail Flow BEARISH
Overall BEARISH
Dollar Volume
Option Volume
Put/Call Ratio
Open Interest
Expected Move
Current BULLISH
Prior BEARISH
7-Day Avg BULLISH
Current BEARISH
Prior BEARISH
7-Day Avg NEUTRAL
Current BEARISH
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 -- 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 $0.12, cheapest $0.16)

CALLS (1)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$30.00Sep 180.140.17$0.1618.8%3.6K0.2061.5K
PUTS (2)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$25.00Sep 180.050.06$0.0616.7%6.3K0.0537.4K
$26.00Sep 180.120.14$0.1315.4%1370.1124.6K

In-the-money options with delta >0.50. Higher probability of profit, lower leverage. 10 found (avg delta 0.80, highest 1.00)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$27.50Sep 40.953.25$2.10109.5%41.003
$27.00Sep 110.123.45$1.79186.0%31.0040
$24.00Sep 182.906.80$4.8580.4%10.99--
$27.00Sep 40.123.25$1.69185.2%180.9493
$27.00Sep 181.501.80$1.6518.2%20.86--
PUTS (1)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$28.50Sep 110.001.90$0.95200.0%50.58--

Most actively traded options today. High liquidity = easy entry/exit. 47 active (total vol 23.3K, top 6.4K)

CALLS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$29.00Sep 180.270.44$0.3647.2%6.4K0.4168.9K
$30.00Sep 180.140.17$0.1618.8%3.6K0.2061.5K
$30.00Sep 40.020.03$0.0333.3%2.4K0.06421
$29.00Sep 40.090.12$0.1127.3%3100.26152
$30.00Sep 250.140.32$0.2378.3%2290.20212
PUTS (5)
StrikeExpiryBidAskMarkSpreadVolDeltaOI
$25.00Sep 180.050.06$0.0616.7%6.3K0.0537.4K
$28.50Sep 40.100.25$0.1883.3%1.9K0.47333
$25.50Sep 180.051.16$0.61182.0%7880.21681
$26.00Sep 180.120.14$0.1315.4%1370.1124.6K
$28.00Sep 180.100.36$0.23113.0%830.2915.4K

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 48.0%, max 48.0%)

CALLS (1)
StrikeNear ExpFar ExpNear IVFar IVBack%VolOI
$29.00Sep 4Oct 923.6%15.9%48.0%326164
PUTS (0)
No puts found

Bull call spreads & bear put spreads with the best risk/reward ratios. Pay a debit upfront, defined max loss. 11 found (best R:R 5.25, avg 2.62)

BULL CALL (5)
BuySellExpiryDebitMax GainMax LossPOPR:RBE
$29.00$30.00Oct 9$0.16$0.84$0.1644%5.25$29.16
$27.00$27.50Sep 18$0.30$0.20$0.3086%0.67$27.30
$28.50$29.00Sep 4$0.14$0.36$0.1453%2.57$28.64
$28.00$29.00Sep 18$0.62$0.38$0.6272%0.61$28.62
$29.00$30.00Sep 25$0.27$0.73$0.2736%2.70$29.27
BEAR PUT (1)
BuySellExpiryDebitMax GainMax LossPOPR:RBE
$28.50$28.00Sep 4$0.13$0.37$0.1347%2.85$28.37

Bear call spreads & bull put spreads collecting premium. Receive credit upfront, profit if stock stays in range. 7 found (best R:R 1.38, avg 0.45)

BEAR CALL (5)
SellBuyExpiryCreditMax GainMax LossPOPR:RBE
$29.00$30.00Oct 2$0.58$0.58$0.4259%1.38$29.58
$30.00$31.00Oct 9$0.29$0.29$0.7173%0.41$30.29
$30.00$31.00Sep 25$0.21$0.21$0.7980%0.27$30.21
$30.00$31.00Sep 18$0.15$0.15$0.8580%0.18$30.15
$29.00$30.00Sep 25$0.27$0.27$0.7364%0.37$29.27
BULL PUT (1)
SellBuyExpiryCreditMax GainMax LossPOPR:RBE
$28.50$28.00Sep 4$0.13$0.13$0.3753%0.35$28.37

Same strike, different expirations. Sell near-term, buy far-term. Profits from time decay differential. 2 found (avg debit $0.50, cheapest $0.23)

CALLS (1)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$28.50Sep 4Sep 11$0.2316.0%32.3%
PUTS (1)
StrikeNear ExpFar ExpNet DebitNear IVFar IV
$28.50Sep 4Sep 11$0.7716.0%32.3%

Buy call + put at the same strike and expiry. Profits from large moves in either direction. 6 found (cheapest 1.51% of stock, avg 5.07%)

StrikeExpiryCall$Put$TotalBE LowBE HighCost%
$28.50Sep 4$0.25$0.18$0.43$28.07$28.931.51%
$28.00Sep 18$0.98$0.23$1.21$26.79$29.214.24%
$28.50Sep 11$0.48$0.95$1.43$27.07$29.935.01%
$27.00Sep 4$1.69$0.02$1.71$25.29$28.715.99%
$27.00Sep 18$1.65$0.14$1.79$25.21$28.796.27%
$27.50Sep 4$2.10$0.01$2.11$25.39$29.617.40%

Buy OTM call + OTM put at different strikes. Cheaper than straddles, needs bigger move to profit. 25 found (cheapest 0.28% of stock, avg 3.06%)

Call KPut KExpiryCall$Put$TotalBE LowBE High
$30.00$28.00Sep 4$0.03$0.05$0.08$27.92$30.08
$29.50$28.00Sep 4$0.04$0.05$0.09$27.91$29.59
$29.00$28.00Sep 4$0.11$0.05$0.16$27.84$29.16
$30.00$27.00Sep 18$0.16$0.14$0.30$26.70$30.30
$29.50$28.50Sep 4$0.04$0.18$0.22$28.28$29.72
$30.00$28.50Sep 4$0.03$0.18$0.21$28.29$30.21
$29.00$28.50Sep 4$0.11$0.18$0.29$28.21$29.29
$30.00$28.00Sep 18$0.16$0.23$0.39$27.61$30.39
$30.50$28.00Sep 11$0.03$0.26$0.29$27.71$30.79
$30.00$28.00Sep 11$0.05$0.26$0.31$27.69$30.31

Sell OTM put spread + OTM call spread. Collect premium, profit if stock stays between breakevens. 1 found (best R:R 2.33, avg credit $0.70)

Put SpreadCall SpreadExpiryCreditMax LossPOPR:RBE LowBE High
25/2630/31Sep 18$0.70$0.3059%2.33$24.80$30.70

Buy lower + upper strikes, sell 2x middle strike. Low cost, max profit at the middle strike at expiry. 6 found (best R:R 15.67, cheapest $0.05)

CALLS (4)
LowMidHighExpiryDebitMax GainPOPR:R
$29.00$30.00$31.00Sep 25$0.06$0.9433%15.67
$28.50$29.00$29.50Sep 4$0.07$0.4342%6.14
$29.00$29.50$30.00Sep 4$0.06$0.4419%7.33
$30.00$31.00$32.00Oct 9$0.28$0.7225%2.57
PUTS (2)
LowMidHighExpiryDebitMax GainPOPR:R
$27.50$28.00$28.50Sep 4$0.09$0.4145%4.56
$27.00$27.50$28.00Sep 4$0.05$0.4513%9.00

Buy 1 option, sell 2 at a different strike (1:2 ratio). Can be entered for a credit. Unlimited risk on naked leg. 14 found (best net $-0.15, 3 credits)

CALLS (5)
Buy KSell KRatioExpiryNetMax Gain
$29.00$30.001:2Oct 9-$0.15$0.85
$31.00$32.001:2Oct 9$0.00$1.00
$24.00$27.001:2Sep 18$1.55$1.45
$27.00$28.501:2Sep 11$0.83$0.67
$28.00$29.001:2Sep 18$0.26$0.74
PUTS (4)
Buy KSell KRatioExpiryNetMax Gain
$28.00$27.001:2Sep 18-$0.05$0.95
$28.50$28.001:2Sep 4$0.08$0.42
$28.50$28.001:2Sep 11$0.43$0.07
$25.50$25.001:2Sep 18$0.49$0.01

Sell OTM calls against 100 shares you own. Collect premium for income, capped upside at strike. Yield% = premium/stock price. 9 found (best yield 1.75%, avg 0.82%)

StrikeExpiryBidDeltaOTM%Yield%If Called%VolOI
$29.00Oct 2$0.500.411.6%1.75%3.40%1--
$29.50Sep 18$0.180.453.4%0.63%4.03%1--
$30.00Oct 9$0.220.275.2%0.77%5.92%4--
$29.00Sep 25$0.400.361.6%1.40%3.05%201658
$30.00Oct 2$0.170.205.2%0.60%5.75%8626
$29.00Sep 18$0.270.411.6%0.95%2.59%6.4K68.9K
$30.00Sep 18$0.140.205.2%0.49%5.64%3.6K61.5K
$30.00Sep 25$0.140.205.2%0.49%5.64%229212
$29.00Sep 4$0.090.261.6%0.32%1.96%310152

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 20,634
Total Puts 43,148
Put/Call Ratio 2.09
Net Difference -22,514

Prior's Put/Call Breakdown

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

Prior 7-Day Put/Call Summary

Total Calls 200,392
Total Puts 349,636
Average Put/Call Ratio 2.37
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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