The S&P 500 saw significant options trading activity involving Warner Bros Discovery Inc (NASDAQ:WBD ), Idexx Laboratories, Inc . (NASDAQ:IDXX) and Bank of America Corp (NYSE:BAC) on Tuesday. The information was reported by StockOptionsChannel.com.
Warner Bros Discovery Inc traded an impressive 265,486 contracts, equivalent to approximately 26.5 million underlying shares. This number represents a whopping 140.1% of its average daily trading volume over the past month. The $11 strike put option expiring on October 13, 2023 was particularly notable with high volume of 150,113 contracts.
As a prominent player in the entertainment industry, Warner Bros Discovery Inc operates with a moderate level of debt, according to InvestingPro Tips. The company’s share price movements are quite volatile as reflected in its P/E ratio of -3.88 and adjusted P/E ratio for LTM2023.Q2 of -6.81 according to InvestingPro data. Although it has not been profitable over the past twelve months, analysts predict that the company will be profitable this year, which is a promising prospect for potential investors.
Idexx Laboratories’ options turnover represented about 464,900 underlying shares or about 110.9% of its average daily trading volume. The $380 strike put option, which expires on November 17, 2023, had high volume at 3,003 contracts.
Bank of America Corp’s options trading volume accounted for nearly 28.1 million underlying shares, or about 65.4% of its average daily trading volume. The $27 strike put option, set to expire on October 20, 2023, saw high activity with 31,757 contracts traded.
The report also referenced LNC videos and the day’s most active call & put options in the S&P 500. It highlighted the trailing 12-month trading history of $11, $380 and $27 strikes. APA 13F Filers and DENTSPLY SIRONA (NASDAQ:XRAY) Technical Analysis were also mentioned in the report. Readers were encouraged to subscribe to Smart Investing for further insight into these trading activities.
According to InvestingPro data, Warner Bros Discovery Inc has a market cap of $26.01B and revenue of $41.89B for LTM2023.Q2, growing 116.78%. The company’s gross profit for the same period was $16.04 billion with a margin of 38.29%. This data, along with the InvestingPro tips, provides valuable insight for those interested in investing in the company. For more tips and real-time metrics, consider subscribing to InvestingPro, which offers additional tips and insights for various businesses. You can find more information here.
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