Behind the Scenes of Warner Bros. Discovery's Latest Options Trends

Investors with significant funds have taken a bullish position in Warner Bros. Discovery WBD, a development that retail traders should be aware of.

This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in WBD usually indicates foreknowledge of upcoming events.

Today, Benzinga's options scanner identified 8 options transactions for Warner Bros. Discovery. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 62% being bullish and 25% bearish. Of all the options we discovered, 7 are puts, valued at $540,521, and there was a single call, worth $120,330.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $7.5 to $10.0 for Warner Bros. Discovery over the recent three months.

Volume & Open Interest Trends

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 $7.5 to $10.0, over the past month.

Warner Bros. Discovery 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

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.

In light of the recent options history for Warner Bros. Discovery, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Present Market Standing of Warner Bros. Discovery

• Trading volume stands at 6,837,323, with WBD's price down by -0.58%, positioned at $7.68.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 68 days.

What Analysts Are Saying About Warner Bros. Discovery

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $7.9.

• An analyst from Bernstein has revised its rating downward to Market Perform, adjusting the price target to $8.
• An analyst from Wells Fargo has decided to maintain their Equal-Weight rating on Warner Bros. Discovery, which currently sits at a price target of $7.
• An analyst from Macquarie has decided to maintain their Neutral rating on Warner Bros. Discovery, which currently sits at a price target of $8.
• Maintaining their stance, an analyst from Evercore ISI Group continues to hold a Outperform rating for Warner Bros. Discovery, targeting a price of $9.
• An analyst from Goldman Sachs persists with their Neutral rating on Warner Bros. Discovery, maintaining a target price of $7.

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.