Financial giants have recently shown a bullish interest in Warner Bros. Discovery, as evidenced by 10 unusual trades in the options market. Our analysis of options history for Warner Bros. Discovery (WBD) revealed that 80% of traders were bullish, while 20% showed bearish tendencies. Out of the trades identified, 7 were puts with a value of $373,450, and 3 were calls valued at $142,175.
When evaluating the trading volumes and Open Interest, it becomes apparent that the major market movers are focusing on a price band between $2.5 and $15.0 for Warner Bros. Discovery, spanning the last three months. This indicates a range of potential price targets that the financial giants are considering.
Looking at the volume and open interest is a powerful move while trading options. This data can help track the liquidity and interest for Warner Bros. Discovery’s options for a given strike price. In the last 30 days, we observed the evolution of the volume and open interest of calls and puts for Warner Bros. Discovery’s whale trades within a strike price range from $2.5 to $15.0.
Several notable options trades were spotted during our analysis. One such trade involved a call option with a bearish sentiment for Warner Bros. Discovery (WBD), expiring on June 20, 2025, with a strike price of $2.50. The total trade price was $79.2K, with an open interest of 76 and a volume of 215. Another interesting trade was a put option with a bullish sentiment, expiring on January 17, 2025, with a strike price of $15.00. The total trade price was $54.5K, with an open interest of 6.1K and a volume of 301.
Warner Bros. Discovery was formed in 2022 through the combination of WarnerMedia and Discovery Communications. The company operates in three global business segments: studios, networks, and direct-to-consumer. Warner Bros. Pictures is the crown jewel of the studios business, while the networks business consists of basic cable networks such as CNN, TNT, and Discovery. The direct-to-consumer segment includes HBO and the firm’s streaming platforms. Warner Bros. Discovery operates globally, with its streaming platform available in over 60 countries.
In terms of its current position, Warner Bros. Discovery is trading with a volume of 5,375,791, and its price has increased by 1.33%, reaching $9.88. RSI readings suggest that the stock may be approaching oversold levels. The anticipated earnings release for the company is in 15 days.
Industry analysts have shared their insights on Warner Bros. Discovery, proposing an average target price of $12.33. Redburn Atlantic downgraded its action to Neutral with a price target of $11, while Macquarie maintains an Outperform rating with a target price of $14. Wells Fargo downgraded its action to Equal-Weight with a price target of $12.
It’s important to note that options trading presents higher risks and potential rewards. Traders should stay informed about the latest Warner Bros. Discovery options trades and market movements to make informed decisions. Real-time alerts from Benzinga Pro can help traders stay updated on the latest options trades for Warner Bros. Discovery.
