Unpacking the Latest Options Trading Trends in Warner Bros. Discovery

Investors with a lot of money to spend have taken a bearish stance on Warner Bros. Discovery WBD.

And retail traders should know.

We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with WBD, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 30 options trades for Warner Bros. Discovery.

This isn't normal.

The overall sentiment of these big-money traders is split between 40% bullish and 43%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $33,320, and 29, calls, for a total amount of $2,209,099.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $4.0 to $15.0 for Warner Bros. Discovery over the last 3 months.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Warner Bros. Discovery stands at 14865.5, with a total volume reaching 67,294.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Warner Bros. Discovery, situated within the strike price corridor from $4.0 to $15.0, throughout the last 30 days.

Warner Bros. Discovery Option Activity Analysis: Last 30 Days

Biggest Options Spotted:

About Warner Bros. Discovery

Warner Bros. Discovery was formed in 2022 through the combination of WarnerMedia and Discovery Communications. It operates in three global business segments: studios, networks, and direct-to-consumer. Warner Bros. Pictures is the crown jewel of the studios business, producing, distributing, and licensing movies and television shows. The networks business consists of basic cable networks, such as CNN, TNT, TBS, Discovery, HGTV, and the Food Network. Direct-to-consumer includes HBO and the firm's streaming platforms, which have now been consolidated to Max and Discovery+. Much of the DTC content is created within the firm's other two business segments. Each segment operates with a global reach, with Max available in over 60 countries.

After a thorough review of the options trading surrounding Warner Bros. Discovery, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Current Position of Warner Bros. Discovery

• Trading volume stands at 49,137,819, with WBD's price up by 14.6%, positioned at $12.4.
• RSI indicators show the stock to be may be overbought.
• Earnings announcement expected in 71 days.

What The Experts Say On Warner Bros. Discovery

A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $13.25.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Guggenheim persists with their Buy rating on Warner Bros. Discovery, maintaining a target price of $12. * An analyst from Keybanc persists with their Overweight rating on Warner Bros. Discovery, maintaining a target price of $14.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Warner Bros. Discovery options trades with real-time alerts from Benzinga Pro.