Option traders moderately bearish in Warner Bros. Discovery with shares down 0.55%

Group 1 - Option traders are moderately bearish on Warner Bros. Discovery (WBD), with shares currently down 16 cents near $27.80 [1] - Options volume is relatively light, with 3,639 contracts traded, and calls leading puts, resulting in a put/call ratio of 0.66, compared to a typical level of around 3.14 [1] - Implied volatility (IV30) has increased by 0.3 points to approximately 10.53, which is in the lowest 10% of observations over the past year, indicating an expected daily move of $0.18 [1] - The put-call skew has steepened, suggesting increased demand for downside protection among traders [1]