Warner Bros. Discovery, Inc. - (WBD) currently has an IV rank of 49.1%, which measures where current implied volatility sits relative to its 52-week range.

What is WBD max pain?

WBD max pain for the nearest expiration is $27.00. Max pain is the strike price where option holders collectively lose the most money at expiration.

What is WBD expected move?

WBD expected move for the nearest expiration is ±1.4%, derived from options pricing.

Home Options WBDOverview

WBD

Warner Bros. Discovery, Inc. - Close $26.48EOD only

Max Pain

$27.00

Next expiry Jul 10, 2026

Expected Move

±$0.37

1.4% from close

Price Gap

+0.52

Distance to max pain

IV Rank

Middle-high premium

P/C OI

2.03

Slightly put-heavy

Consensus

4/4

Partial coverage

Published snapshot: Jul 2, 2026 close

End-of-day snapshot

This page reflects WBD options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot

Jul 2, 2026 close

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Open Available Reports (4/4)

DEX LongGEX NegativeIV Moderate

High Put/CallNet Call PremiumExp. Move Narrow+1

Gamma Exposure (GEX)

Delta Exposure (DEX)

Expected Move by Expiration

Expiration	DTE	Expected Move	Move %	Lower	Upper
2026-07-02	0	±$0.17	±0.6%	$26.31	$26.65
2026-07-10	8	±$0.37	±1.4%	$26.11	$26.85
2026-07-17	15	±$2.97	±11.2%	$23.50	$29.45
2026-07-24	22	±$3.13	±11.8%	$23.34	$29.61
2026-07-31	29	±$1.88	±7.1%	$24.60	$28.35
2026-08-07	36	±$1.50	±5.7%	$24.98	$27.98

Strongest Signal: GEX Negative
Total GEX: $-0.06B
Total DEX: $59.7M
Expected Move: ±1.4%
Put/Call OI: 2.03
Near Max Pain: $27.00
Flow Tilt: Call-heavy $2.7M
Spot Price: $26.48

How to Use This Overview

This page compresses the latest market-close snapshot into one high-level decision surface.

What it summarizes

Overview pulls the main options context into one place: dealer positioning, volatility, expected move, max pain, and current report coverage.

Where traders usually go next

Use the chain when you need contract selection, dealer exposure when you want positioning context, and reports when you want a structured setup with entry and risk context.

What to remember

This is a market-close snapshot, so the hierarchy can drift intraday when spot, IV, or headline risk moves quickly.

Treat this page like a map of the close, not a live execution dashboard.

WBD

Gamma Exposure (GEX)

Delta Exposure (DEX)

Expected Move by Expiration

WBD Quick Anchors