WBD options flow: unusual options activity in Warner Bros. Discovery, Inc.

Updated 28 September 2026, 09:54 ET

Over the last week the tape recorded 86 unusual options prints in Warner Bros. Discovery, Inc. (WBD), $21.2M of tracked premium, leaning bullish. Bullish premium was $10.9M against $6.7M bearish; $20.6M went into calls and $549K into puts, a put call ratio of 0.03. The largest print was $8.8M of WBD 20 Nov 2026 $28 calls on 21 September 2026, executed at ask. The last session with prints, 25 September 2026, added 1 print and $40K of premium. WBD closed at $30.86 on 25 September 2026, up 0.1%.

This week's unusual flow

Prints from 21 September 2026 to 25 September 2026, 5 sessions. Delayed tier: every print is shown twenty minutes after it executed, and the page is rebuilt after each session.

Net premium is bullish minus bearish premium. The put call ratio is put premium divided by call premium, weighted by money rather than by contract count. Sweeps is the share of prints executed across several exchanges at once. Read the guide: Reading the Pulse.

Largest prints of the week

Size above open interest means the trade opened a position larger than everything that existed in the contract the night before. Above ask and below bid are the most aggressive executions. Read the guide: Size versus open interest.

Where the money is aimed

The most premium, $9.4M, is aimed at the 20 Nov 2026 expiry; the nearest expiry with unusual prints is 25 Sep 2026.

A print in a contract expiring this week is a view about the next few days, often about a known event; a print months out is a different kind of statement. Read the guide: 0DTE options flow.

The last session, 25 September 2026

Every print in WBD with its full detail, the live tape, one tap filters and saved screeners: open WBD in Options Sentiment Screener.

Price

The live quote and the price chart sit beside the ticker's flow in the app: open WBD in Options Sentiment Screener.

Analysts

The most recent analyst targets on file, from 4 firms, have a median of $31, 0.5% above the last close. The last 90 days brought 1 downgrade.

Calls bought at a strike above the average target are a bet that the analysts are too cautious; puts far below the price in a name they like are protection or a strong disagreement. Read the guide: Reading one ticker's flow.

About Warner Bros. Discovery, Inc.

Exchange

Nasdaq

Sector

Communication Services

Industry

Communication

Headquarters

NEW YORK, New York

Website

corporate.discovery.com

Discovery, Inc., a media company, provides content across various distribution platforms in approximately 50 languages worldwide. The company owns and operates various television networks under the Discovery Channel, HGTV, Food Network, TLC, Animal Planet, Investigation Discovery, and Discovery Home & Health brands. Its content spans genres, including survival, natural history, exploration, sports, home, food, travel, and kids.

In the same sector

Flow pages for other Communication Services names in the S&P 500:

GOOGL Alphabet Inc.GOOG Alphabet Inc.META Meta Platforms, Inc.NFLX Netflix Inc.VZ Verizon Communications Inc.DIS Walt Disney Co.TMUS T-Mobile US, Inc.T AT&T Inc.

Learn

• What unusual options activity means
• Reading one ticker's flow
• Sweeps, blocks and where a trade printed
• Size versus open interest
• Bullish or bearish, how a print's sentiment is inferred
• The conviction score and whale prints