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Benzinga's options scanner just detected over 12 options trades for Warner Bros. Discovery (NASDAQ:WBD) summing a total amount of $393,007.
At the same time, our algo caught 3 for a total amount of 121,619.
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $10.0 to $25.0 for Warner Bros. Discovery over the recent three months.
In today's trading context, the average open interest for options of Warner Bros. Discovery stands at 8936.42, with a total volume reaching 9,925.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Warner Bros. Discovery, situated within the strike price corridor from $10.0 to $25.0, throughout the last 30 days.

| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WBD | CALL | SWEEP | BULLISH | 12/05/25 | $1.37 | $0.81 | $1.32 | $21.00 | $66.3K | 0 | 500 |
| WBD | PUT | TRADE | BULLISH | 01/16/26 | $0.85 | $0.6 | $0.65 | $17.50 | $65.0K | 23.5K | 1.2K |
| WBD | CALL | SWEEP | BULLISH | 12/19/25 | $0.26 | $0.25 | $0.25 | $25.00 | $36.7K | 14.4K | 1.4K |
| WBD | CALL | TRADE | BULLISH | 11/14/25 | $1.2 | $0.99 | $1.2 | $20.00 | $36.0K | 973 | 300 |
| WBD | CALL | TRADE | BULLISH | 06/18/26 | $3.55 | $3.4 | $3.55 | $20.00 | $35.5K | 1.5K | 179 |
Warner Bros. Discovery was formed in 2022 through the combination of WarnerMedia and Discovery Communications. In 2026, it intends to split its global networks business from its streaming and studios businesses, forming two separate companies. The streaming business includes HBO Max, which is rapidly increasing its international footprint in addition to its major presence in the US. Studios include industry leaders in both film and television, which produce movies and television series that are monetized in multiple ways, including theatrical release, sales to third parties, and feeding into Warner's own platforms. Global networks consist of basic cable networks like CNN, TNT, TBS, Discovery, HGTV, and The Food Network. The Discovery+ streaming service will remain part of global networks.
In light of the recent options history for Warner Bros. Discovery, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $22.0.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Goldman Sachs persists with their Neutral rating on Warner Bros. Discovery, maintaining a target price of $13. * An analyst from Argus Research upgraded its action to Buy with a price target of $27. * An analyst from UBS has decided to maintain their Neutral rating on Warner Bros. Discovery, which currently sits at a price target of $20. * An analyst from Barrington Research persists with their Outperform rating on Warner Bros. Discovery, maintaining a target price of $25. * Consistent in their evaluation, an analyst from Benchmark keeps a Buy rating on Warner Bros. Discovery with a target price of $25.
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.
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