Check Out What Whales Are Doing With WBD

Investors with a lot of money to spend have taken a bullish stance on Warner Bros. Discovery WBD.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with WBD, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 8 uncommon options trades for Warner Bros. Discovery.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $172,526, and 4 are calls, for a total amount of $229,584.

Latest Startup Investment Opportunities:

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $8.5 to $12.5 for Warner Bros. Discovery over the recent three months.

Volume & Open Interest Trends

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Warner Bros. Discovery's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Warner Bros. Discovery's whale activity within a strike price range from $8.5 to $12.5 in the last 30 days.

Warner Bros. Discovery Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

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.

After a thorough review of the options trading surrounding Warner Bros. Discovery, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Current Position of Warner Bros. Discovery

• Trading volume stands at 7,646,975, with WBD's price up by 1.07%, positioned at $8.47.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 37 days.

What The Experts Say On Warner Bros. Discovery

4 market experts have recently issued ratings for this stock, with a consensus target price of $13.25.

• An analyst from Benchmark downgraded its action to Buy with a price target of $20.
• An analyst from Barclays has decided to maintain their Equal-Weight rating on Warner Bros. Discovery, which currently sits at a price target of $9.
• Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Warner Bros. Discovery with a target price of $14.
• An analyst from Rosenblatt upgraded its action to Neutral with a price target of $10.

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.