Whales with a lot of money to spend have taken a noticeably bullish stance on Warner Bros. Discovery.
Looking at options history for Warner Bros. Discovery WBD we detected 17 trades.
If we consider the specifics of each trade, it is accurate to state that 47% of the investors opened trades with bullish expectations and 47% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $265,796 and 12, calls, for a total amount of $973,577.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $10.0 and $17.0 for Warner Bros. Discovery, spanning the last three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Warner Bros. Discovery options trades today is 5702.86 with a total volume of 28,621.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Warner Bros. Discovery's big money trades within a strike price range of $10.0 to $17.0 over the last 30 days.
Warner Bros. Discovery Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WBD | CALL | SWEEP | BULLISH | 12/19/25 | $1.09 | $1.05 | $1.09 | $13.00 | $187.5K | 3.2K | 1.7K |
| WBD | CALL | SWEEP | BULLISH | 12/19/25 | $1.11 | $1.05 | $1.1 | $13.00 | $153.3K | 3.2K | 3.1K |
| WBD | PUT | SWEEP | BEARISH | 01/15/27 | $1.47 | $1.3 | $1.47 | $10.00 | $147.0K | 4.4K | 1.1K |
| WBD | CALL | SWEEP | BULLISH | 01/15/27 | $1.3 | $1.29 | $1.3 | $17.00 | $127.7K | 8.5K | 1.0K |
| WBD | CALL | SWEEP | BULLISH | 12/19/25 | $1.09 | $1.04 | $1.09 | $13.00 | $116.4K | 3.2K | 4.2K |
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 70 countries.
Where Is Warner Bros. Discovery Standing Right Now?
- With a trading volume of 41,999,210, the price of WBD is down by -0.17%, reaching $11.71.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 24 days from now.
Expert Opinions on Warner Bros. Discovery
5 market experts have recently issued ratings for this stock, with a consensus target price of $13.6.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Maintaining their stance, an analyst from Wells Fargo continues to hold a Equal-Weight rating for Warner Bros. Discovery, targeting a price of $11. * Consistent in their evaluation, an analyst from UBS keeps a Neutral rating on Warner Bros. Discovery with a target price of $10. * Maintaining their stance, an analyst from B of A Securities continues to hold a Buy rating for Warner Bros. Discovery, targeting a price of $16. * Consistent in their evaluation, an analyst from Barclays keeps a Equal-Weight rating on Warner Bros. Discovery with a target price of $13. * Reflecting concerns, an analyst from Benchmark lowers its rating to Buy with a new price target of $18.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Warner Bros. Discovery, Benzinga Pro gives you real-time options trades alerts.
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