Unpacking the Latest Options Trading Trends in Warner Bros. Discovery

High-rolling investors have positioned themselves bearish on Warner Bros. Discovery WBD, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in WBD often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 13 options trades for Warner Bros. Discovery. This is not a typical pattern.

The sentiment among these major traders is split, with 0% bullish and 100% bearish. Among all the options we identified, there was one put, amounting to $37,050, and 12 calls, totaling $526,193.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $12.5 to $15.0 for Warner Bros. Discovery over the recent three months.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Warner Bros. Discovery's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Warner Bros. Discovery's significant trades, within a strike price range of $12.5 to $15.0, over the past month.

Warner Bros. Discovery Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

About Warner Bros. Discovery

Warner Bros. Discovery, the result of combining two large media firms, is one of the largest media firms in the world with tremendous scale and reach. The new company owns some of the biggest global networks including HBO, Discovery, CNN, and TLC and well-known franchises like Superman, Rick and Morty, and Game of Thrones. The firm's content production studios include Warner Bros., HBO, Discovery Studios, DC Films, and Cartoon Network Studios. The company operates two major streaming services, Max and Discovery+.

Current Position of Warner Bros. Discovery

• Currently trading with a volume of 3,331,880, the WBD's price is up by 1.04%, now at $10.73.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 85 days.

Professional Analyst Ratings for Warner Bros. Discovery

5 market experts have recently issued ratings for this stock, with a consensus target price of $17.2.

• Consistent in their evaluation, an analyst from Benchmark keeps a Buy rating on Warner Bros. Discovery with a target price of $24.
• An analyst from Wells Fargo has decided to maintain their Overweight rating on Warner Bros. Discovery, which currently sits at a price target of $16.
• An analyst from Raymond James has decided to maintain their Outperform rating on Warner Bros. Discovery, which currently sits at a price target of $17.
• An analyst from Goldman Sachs has decided to maintain their Buy rating on Warner Bros. Discovery, which currently sits at a price target of $15.
• An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on Warner Bros. Discovery, which currently sits at a price target 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.