Moderately bullish activity in Warner Bros. Discovery with shares up 1.82%

Moderately bullish activity in Warner Bros. Discovery (WBD), with shares up 34c, or 1.82%, near $19.04. Options volume running well above average with 48k contracts traded and calls leading puts for a put/call ratio of 0.73, compared to a typical level near 0.41. Implied volatility (IV30) dropped 6.2 near 71.92, in the highest 10% of observations over the past year, suggesting an expected daily move of $0.86. Put-call skew flattened, suggesting a modestly bullish tone.