Mixed options sentiment in Warner Bros. Discovery (WBD), with shares down 32c near $29.39. Options volume relatively light with 50k contracts traded and calls leading puts for a put/call ratio of 0.43, compared to a typical level near 0.49. Implied volatility (IV30) dropped 2.57 near 31.26,in the lowest 10% of observations over the past year, suggesting an expected daily move of $0.58. Put-call skew flattened, suggesting a modestly bullish tone, following a downgrade to Hold at Spin-Off Research.
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