Mixed options sentiment in Warner Bros. Discovery (WBD), with shares up $1.13, or 4.33%, near $27.21. Options volume nearly triple the daily average with 398k contracts traded and calls leading puts for a put/call ratio of 0.4, compared to a typical level near 0.56. Implied volatility (IV30) dropped 0.46 near 26.14,in the lowest 10% of observations over the past year, suggesting an expected daily move of $0.45. Put-call skew steepened, indicating increased demand for downside protection.
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