Financial giants made a notable bullish move on Warner Bros. Discovery. Our option history analysis for Warner Bros. Discovery WBD revealed 10 unusual operations.
Digging into the details, we found that 80% of traders were bullish, while 20% showed bearish tendencies. Of all the trades we spotted, 7 were puts, worth $373,450, and 3 were calls, worth $142,175.
Expected price targets
After evaluating trading volumes and Open Interest, it is evident that major market movers are focusing on a price range between $2.5 and $15.0 for Warner Bros. Discovery, over the past three months.
Development of open volumes and interests
Looking at volume and open interest is a powerful move when trading options. This data can help you track liquidity and interest for Warner Bros. Discovery options for a given strike price. Below, we can observe the evolution of call and put volume and open interest respectively for all Warner Bros. Discovery whale trades within a strike price range of $2.5 to $15 ,0 in the last 30 days.
Warner Bros. Discovery Call and Put Volume: 30-Day Overview
Major options identified:
| Symbol | PUT/CALL | Type of trade | Feeling | Exp. Date | Strike price | Total commercial price | Open interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WBD | CALL | SWEEP | BEARISH | 06/20/25 | $2.50 | $79.2k | 76 | 215 |
| WBD | PUT | SWEEP | BULLISH | 01/17/25 | $15.00 | $54.5K | 6.1K | 301 |
| WBD | PUT | SWEEP | BULLISH | 01/17/25 | $15.00 | $54.0K | 6.1K | 401 |
| WBD | PUT | SWEEP | BULLISH | 09/20/24 | $15.00 | $53.5K | 1 | 105 |
| WBD | PUT | SWEEP | BULLISH | 01/17/25 | $15.00 | $53.5K | 6.1K | 201 |
About Warner Bros. Discovery
Warner Bros. Discovery was formed in 2022 by 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 flagship of the studio business, producing, distributing and licensing films and television programs. The networks business consists of basic cable networks, such as CNN, TNT, TBS, Discovery, HGTV and Food Network. The direct-to-consumer service includes HBO and the company’s streaming platforms, which have now been consolidated into Max and Discovery+. Much of the DTC content is created in the company’s other two business segments. Each segment operates with a global reach, with Max available in over 60 countries.
Following our analysis of the options activity associated with Warner Bros. Discovery, let’s take a closer look at the company’s performance.
Current location of Warner Bros. Discovery
- Currently trading on volume of 5,375,791, WBD price is up 1.33%, now at $9.88.
- RSI readings suggest the stock may be approaching oversold currently.
- The expected earnings release is in 15 days.
Expert opinions on Warner Bros. Discovery
Over the past month, 3 industry analysts have shared their views on this stock, offering an average price target of $12.333333333333334.
- An analyst at Redburn Atlantic downgraded its stock to Neutral with an $11 price target.
- Consistent with their assessment, a Macquarie analyst maintains an Outperform rating on Warner Bros. Discovery with a $14 price target.
- A Wells Fargo analyst downgraded its stock to Equal-Weight with a $12 price target.
Options trading has higher risks and potential rewards. Smart traders manage these risks by continuously educating themselves, adapting their strategies, monitoring multiple indicators and keeping an eye on market movements. Stay informed on the latest Warner Bros. Discovery options trades with real-time alerts from Benzinga Pro.