That’s what whales bet on Warner Bros. Discovery
Someone with a lot of money to spend has taken a bearish stance on Discovery of Warner Bros. WBD.
And retailers should know that.
We noticed this today when the big position appeared on the history of publicly available options we track here at Benzinga.
Whether it’s an institution or just a wealthy individual, we don’t know. But when something this big happens with WBD, it often means someone knows something is about to happen.
So how do we know what this whale just did?
Today, BenzingaOptions scanner spotted 22 unusual options trades for Warner Bros. Discovery.
It is not normal.
The general sentiment of these big traders is split between 45% bullish and 54% bearish.
Of all the special options we discovered, 13 are put options, totaling $2,610,150, and 9 are call options, totaling $428,898.
What is the target price?
Given the volume and open interest on these contracts, it appears that whales have been targeting a price range of $15.0-$60.0 for Warner Bros. Discovery over the past 3 months.
Development of volume and open interest
Reviewing volume and open interest is an insightful way to perform due diligence on a security.
This data can help you track the liquidity and interest of Warner Bros. Discovery options for a given strike price.
Below, we can observe the evolution of volume and open interest in calls and puts, respectively, for all of Warner Bros. Discovery’s whale business within a strike price range. from $15.0 to $60.0 in the last 30 days.
Warner Bros. Discovery Option Volume and Open Interest in the Last 30 Days
The biggest options spotted:
| Symbol | PUT/CALL | Kind of trade | Feeling | Exp. Date | Strike price | Total trade price | open interest | Volume |
|---|---|---|---|---|---|---|---|---|
| WBD | PUT | TRADE | BULLISH | 06/17/22 | $40.00 | $1.9M | 26.0K | 1.0K |
| WBD | PUT | TRADE | BEARISH | 06/17/22 | $22.50 | $177,500 | 31.6K | 2 |
| WBD | PUT | TRADE | BULLISH | 06/17/22 | $25.00 | $133,700 | 28.4K | 2 |
| WBD | CALL | SCANNING | BULLISH | 05/20/22 | $20.00 | $119,500 | 10.6K | 2.2K |
| WBD | CALL | TRADE | BEARISH | 01/19/24 | $20.00 | $58,000 | 1.5K | 110 |
Where is Warner Bros. Discovery right now?
- With a volume of 33,706,410, the price of WBD is down -7.77% to $19.83.
- RSI indicators suggest that the underlying stock may be oversold.
- The next results should be published in 0 days.
What experts say about Warner Bros. Discovery:
- Atlantic Equities improved its overweight stock with a price target of $40
- Rosenblatt downgraded its stock to Sell with a price target of $20
- B of A Securities downgraded its stock to long with a price target of $45
- Evercore ISI Group has upgraded its stock to Outperform with a price target of $40
Options are a riskier asset than just trading stocks, but they have a higher profit potential. Serious options traders manage this risk by educating themselves daily, increasing and decreasing trades, following more than one indicator, and following the markets closely.
If you want to stay up to date on the latest options trading for {d[company_name]}, BenzingaProgives you real-time alerts on options trades.