ᚱ RUNIR
balanced
WBD · 2026-06-12 · 16:01 ET (after hours)

$WBD

WARNER BROS DISCOVERY INC

$26.98 ▲ +0.12   (+0.45%)

Free ward

Set a ward on $WBD

We DM you the instant the $29 call wall or the $25 put wall breaks. No noise, just the break.

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Free ward

Set a ward on $WBD

We DM you the instant the $29 call wall or the $25 put wall breaks.

—

Warded

$WBD is warded

We'll DM you the moment the $29 call wall breaks. Rest easy.

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The Read

$WBD is in short gamma at heat 54, amplifying moves as dealers hedge. The $29 call wall has held 91% of tests, a level dealers staunchly defend, while the $25 put wall is untested yesterday. Spot sits 2.2% below the $26.82 flip, so any dip runs with the trend.

IV percentile · 1y 49 · mid-range
Snapshot $26.98 · · 2026-06-12 · 16:01 ET (after hours)

The Levels

range held 5 sessions, both sides

Put Wall $25 held 5 sessions
Gamma Flip $27 -0.7% from flip — on the edge
Call Wall $29 held 5 sessions
spot $26.98

Regime balanced — no clear edge from positioning.

Scored Levels

Where the market is positioned

Implied vs Measured

Plays at the Walls

Covered Call

$29 · Jul 10 · 28Δ

$0.43 premium  ·  22%/yr annualized

Cash-Secured Put

$26 · Jul 10 · 30Δ

$0.58 premium  ·  30%/yr annualized

Not investment advice · Informational only

How our calls on $WBD have played out

Over the last 21 sessions · n=10

10 Walls Called
0 Held 0 pinned · 0 rejected
0 Broke
10 Untested

Read the methodology →

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