Mixed options sentiment in Warner Bros. Discovery (WBD), with shares down 1c near $27.52. Options volume relatively light with 690 contracts traded and calls leading puts for a put/call ratio of 0.2, compared to a typical level near 2.72. Implied volatility (IV30) dropped 1.59 near 13.16,in the lowest 10% of observations over the past year, suggesting an expected daily move of $0.23. Put-call skew steepened, indicating increased demand for downside protection.
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