Warner Bros.Discovery Whale Trades For August 05

Warner Bros.Discovery Whale Trades For August 05

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

And retail traders should know.

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

Whether this is an institution or just a wealthy individual, 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 this whale just did?

Today, Benzinga's options scanner spotted 10 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, 5 are puts, for a total amount of $295,478, and 5 are calls, for a total amount of $409,250.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $10.0 to $17.5 for Warner Bros.Discovery over the last 3 months.

Volume & Open Interest Development

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 $10.0 to $17.5 in the last 30 days.

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

Biggest Options Spotted:

 

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
WBD CALL SWEEP BEARISH 09/09/22 $16.00 $138.8K 40 20.0K
WBD CALL SWEEP BEARISH 01/19/24 $12.50 $100.0K 986 250
WBD PUT SWEEP BULLISH 08/05/22 $15.00 $81.2K 19.9K 1.4K
WBD PUT SWEEP BULLISH 08/05/22 $16.00 $79.8K 6.5K 723
WBD PUT SWEEP BULLISH 08/05/22 $15.00 $79.1K 19.9K 2.7K

Where Is Warner Bros.Discovery Standing Right Now?

  • With a volume of 12,340,690, the price of WBD is down -14.3% at $14.98.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 89 days.

What The Experts Say On Warner Bros.Discovery:

  • B of A Securities has decided to maintain their Buy rating on Warner Bros.Discovery, which currently sits at a price target of $23.
  • Citigroup has decided to maintain their Buy rating on Warner Bros.Discovery, which currently sits at a price target of $29.
  • Morgan Stanley has decided to maintain their Equal-Weight rating on Warner Bros.Discovery, which currently sits at a price target of $18.
  • Barclays has decided to maintain their Equal-Weight rating on Warner Bros.Discovery, which currently sits at a price target of $19.
  • Goldman Sachs downgraded its action to Buy with a price target of $22

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.

Posted In: BZI-UOAOptionsMarkets