{"latest_run": "2026-07-31T20:50:00.033648+00:00", "coverage_count": 6120, "result_count": 1, "page": 1, "pages": 1, "filters": {"q": "", "ticker": "WBD", "sector": "", "industry": "", "direction": "", "min_score": 0, "page": 1}, "summary": {"total": 1, "avg_conviction": 56.95, "avg_conviction_label": "57.0", "bullish": 0, "bearish": 1, "volatility": 0, "mixed": 0, "leader": "WBD", "leader_score": "57", "leader_direction": "bearish", "leader_direction_label": "Bearish", "leader_tone": "negative", "leader_read": "The strongest current read leans put-side, which is usually a caution flag or downside-risk signal."}, "charts": {"sectors": [{"ticker__sector": "Communication Services", "count": 1, "avg_score": "56.95", "sector_label": "Communication Services", "industry_label": "", "sector_url": "/structure/us/communication-services/", "industry_url": "", "bar_width": 100.0}], "directions": [{"direction": "bearish", "count": 1, "bar_width": 100.0}], "score_bands": [{"slug": "80-plus", "label": "80+", "min": "80", "max": null, "title": "80+ conviction options signals", "summary": "The strongest current options reads, where pressure, participation, volatility context, and trend fit are most aligned.", "count": 0, "url": "/options/conviction/80-plus/", "bar_width": 0.0}, {"slug": "60-79", "label": "60-79", "min": "60", "max": "80", "title": "60-79 conviction options signals", "summary": "Strong options setups with meaningful evidence, usually worth deeper confirmation in the ticker detail and weekly chart.", "count": 0, "url": "/options/conviction/60-79/", "bar_width": 0.0}, {"slug": "40-59", "label": "40-59", "min": "40", "max": "60", "title": "40-59 conviction options signals", "summary": "Developing options reads where the tape is active, but one or more confirmation layers still need context.", "count": 1, "url": "/options/conviction/40-59/", "bar_width": 100.0}, {"slug": "under-40", "label": "<40", "min": null, "max": "40", "title": "Under 40 conviction options signals", "summary": "Early, mixed, or lower-conviction options reads that can still be useful as watchlist context.", "count": 0, "url": "/options/conviction/under-40/", "bar_width": 0.0}]}, "signals": [{"symbol": "WBD", "name": "Warner Bros Discovery Inc", "exchange": "NASDAQ", "country": "US", "currency": "USD", "sector": "Communication Services", "industry": "Entertainment", "sector_url": "https://sharemaestro.com/structure/us/communication-services/", "industry_url": "https://sharemaestro.com/structure/us/communication-services/entertainment/", "direction": "bearish", "direction_label": "Bearish", "tone": "negative", "conviction_score": 56.95, "options_pressure_score": -58.49, "trend_confirmation_score": 77.28, "speculation_score": 41.0, "volatility_score": 32.67, "edge_label": "Put-side pressure", "insight": "WBD shows bearish options pressure with a 57/100 conviction score, put-call volume ratio of 2.74, expected move of 3.7%, and Sharemaestro trend signal inactive.", "fetched_at": "2026-08-01T20:19:40.361740+00:00", "snapshot": {"fetched_at": "2026-08-01T20:19:40.361740+00:00", "underlying_price": 26.3, "total_contracts": 922, "call_contracts": 461, "put_contracts": 461, "call_volume": 29684, "put_volume": 81273, "call_open_interest": 857959, "put_open_interest": 1723108, "put_call_volume_ratio": 2.73793963, "put_call_open_interest_ratio": 2.00838035, "volume_open_interest_ratio": 0.04298881, "avg_implied_volatility": 0.252675, "max_pain_strike": 26.0, "expected_move_percent": 3.74524715, "nearest_expiration": "2026-08-07"}, "market": {"latest_close": 26.3, "one_week_change": 2.0566550252231277, "one_week_change_label": "+2.1%", "relative_strength": -0.613288, "fair_value_gap_label": "+80.5%", "trend_signal": "0"}, "premium_flags": [{"label": "Persistent pressure", "value": "4x", "detail": "Bearish pressure has repeated across recent market sessions."}, {"label": "Pin watch", "value": "+1.1%", "detail": "Underlying price is close to max pain, useful for expiry-week context."}, {"label": "Trend agreement", "value": "77", "detail": "Options positioning and Sharemaestro trend context are aligned."}], "intent": {"slug": "put-heavy-activity", "label": "Put-heavy activity", "tone": "negative", "confidence": 84.1, "confidence_label": "84/100", "summary": "Put-side activity dominates. This can reflect hedging or directional positioning, but the chain alone cannot distinguish buying from selling.", "evidence": [{"label": "Notional split", "value": "C 22% / P 78%", "detail": "Estimated gross traded notional uses volume \u00d7 contract multiplier \u00d7 midpoint, or last price when no valid midpoint is available."}, {"label": "Freshness", "value": "0.04", "detail": "Volume divided by open interest across the visible chain."}, {"label": "Trend fit", "value": "77/100", "detail": "Agreement between options pressure and Sharemaestro market context."}, {"label": "Event window", "value": "6 Aug", "detail": "Matched earnings event is 5 days away."}], "watchouts": ["Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction."]}, "flow_divergence": {"label": "Bearish flow against rising price", "tone": "warning", "score": 39.9, "score_label": "40/100", "summary": "Put-side pressure is building while price is rising, a cautionary divergence.", "metrics": [{"label": "Options pressure", "value": "-58"}, {"label": "1W price", "value": "+2.1%"}, {"label": "Call premium", "value": "22%"}, {"label": "Put premium", "value": "78%"}]}, "conviction_clusters": [{"label": "Puts \u00b7 91+ days \u00b7 OTM", "tone": "negative", "volume": 26414, "open_interest": 594578, "premium": 5322471.5, "premium_label": "$5.3M", "premium_share": 63.69095773225231, "weighted_strike": 24.069281441659726, "avg_iv": 0.5252872727272727, "max_voi": 1428.57142857, "why": "puts cluster with 26414 contracts traded, $5.3M estimated gross traded notional, and 64% of visible notional."}, {"label": "Puts \u00b7 46-90 days \u00b7 OTM", "tone": "negative", "volume": 44820, "open_interest": 755052, "premium": 944568.5, "premium_label": "$944568", "premium_share": 11.303108416591233, "weighted_strike": 21.272266845158413, "avg_iv": 0.633888, "max_voi": 0.9781866, "why": "puts cluster with 44820 contracts traded, $944568 estimated gross traded notional, and 11% of visible notional."}, {"label": "Calls \u00b7 91+ days \u00b7 OTM", "tone": "positive", "volume": 6253, "open_interest": 132113, "premium": 844161.5, "premium_label": "$844162", "premium_share": 10.101595549303497, "weighted_strike": 30.078362386054692, "avg_iv": 0.19601183333333333, "max_voi": 65.0, "why": "calls cluster with 6253 contracts traded, $844162 estimated gross traded notional, and 10% of visible notional."}, {"label": "Calls \u00b7 46-90 days \u00b7 OTM", "tone": "positive", "volume": 14462, "open_interest": 251108, "premium": 452182.5, "premium_label": "$452182", "premium_share": 5.41100811808277, "weighted_strike": 29.540934863780944, "avg_iv": 0.26788, "max_voi": 0.2645479, "why": "calls cluster with 14462 contracts traded, $452182 estimated gross traded notional, and 5% of visible notional."}, {"label": "Calls \u00b7 0-7 days \u00b7 ITM", "tone": "positive", "volume": 499, "open_interest": 100, "premium": 292268.0, "premium_label": "$292268", "premium_share": 3.497403195956976, "weighted_strike": 20.419839679358716, "avg_iv": 1.023635, "max_voi": 94.0, "why": "calls cluster with 499 contracts traded, $292268 estimated gross traded notional, and 3% of visible notional."}], "why_this_matters": "Put-heavy activity matters because it connects the options headline to the actual evidence: $8.4M of estimated gross traded notional, puts \u00b7 91+ days \u00b7 otm, and a bearish flow against rising price backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.", "detail_url": "https://sharemaestro.com/options/ticker/61a8800c-5e0d-4f50-9a0d-6abc8878acda/", "research_links": {"chart": "/terminal/61a8800c-5e0d-4f50-9a0d-6abc8878acda/", "report": "/terminal/61a8800c-5e0d-4f50-9a0d-6abc8878acda/report/", "factor": "/factors/ticker/61a8800c-5e0d-4f50-9a0d-6abc8878acda/", "insider": "/insider-activity/company/wbd/"}}], "disclaimer": "Educational market research only. Not financial, investment, trading, tax, or legal advice."}