Warner Bros. Discovery's Options: A Look at What the Big Money is Thinking

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 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.

Today, Benzinga's options scanner spotted 13 options trades for Warner Bros. Discovery.

This isn't normal.

The overall sentiment of these big-money traders is split between 69% bullish and 30%, bearish.

Out of all of the options we uncovered, 12 are puts, for a total amount of $450,304, and there was 1 call, for a total amount of $32,000.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $10.0 to $15.0 for Warner Bros. Discovery over the recent three months.

Analyzing Volume & Open Interest

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 $15.0 in the last 30 days.

Warner Bros. Discovery Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

About Warner Bros. Discovery

Warner Bros. Discovery, the result of combining two large media firms, is one of the largest media firms in the world with tremendous scale and reach. The new company owns some of the biggest global networks including HBO, Discovery, CNN, and TLC and well-known franchises like Superman, Rick and Morty, and Game of Thrones. The firm's content production studios include Warner Bros., HBO, Discovery Studios, DC Films, and Cartoon Network Studios. The company operates two major streaming services, Max and Discovery+.

Having examined the options trading patterns of Warner Bros. Discovery, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Present Market Standing of Warner Bros. Discovery

• With a volume of 3,531,976, the price of WBD is down -4.83% at $9.64.
• RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
• Next earnings are expected to be released in 101 days.

Professional Analyst Ratings for Warner Bros. Discovery

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $17.0.

• An analyst from Goldman Sachs persists with their Buy rating on Warner Bros. Discovery, maintaining a target price of $15.
• Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for Warner Bros. Discovery, targeting a price of $15.
• Maintaining their stance, an analyst from Benchmark continues to hold a Buy rating for Warner Bros. Discovery, targeting a price of $24.
• An analyst from Raymond James persists with their Outperform rating on Warner Bros. Discovery, maintaining a target price of $17.
• An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on Warner Bros. Discovery, which currently sits at a price target of $14.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Warner Bros. Discovery options trades with real-time alerts from Benzinga Pro.