Option traders moderately bearish in Warner Bros. Discovery with shares down 0.35%

Option traders moderately bearish in Warner Bros. Discovery (WBD), with shares down 10c near $27.39. Options volume relatively light with 17k contracts traded and puts leading calls for a put/call ratio of 8.24, compared to a typical level near 3.91. Implied volatility (IV30) is higher by 1.4 points near 20.06,in the lowest 10% of observations over the past year, suggesting an expected daily move of $0.35. Put-call skew flattened, suggesting a modestly bullish tone.