Bullish option flow detected in Warner Bros. Discovery (WBD) with 40,335 calls trading, 1.4x expected, and implied vol increasing over 1 point to 46.91%. Jan-26 15 calls and Dec-26 5 puts are the most active options, with total volume in those strikes near 20,200 contracts. The Put/Call Ratio is 0.27. Earnings are expected on August 7th.
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