The S&P 500 index experienced 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 figure 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 noteworthy with a 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, as per InvestingPro Tips. The company's stock price movements are quite volatile, which is reflected in its P/E Ratio of -3.88 and the adjusted P/E ratio for LTM2023.Q2 of -6.81, according to InvestingPro data. Despite not being profitable over the last twelve months, analysts predict the company will be profitable this year, a promising outlook for potential investors.
Idexx Laboratories' options trading volume represented around 464,900 underlying shares or about 110.9% of its average daily trading volume. The $380 strike put option due to expire on November 17, 2023, saw a high volume of 3,003 contracts.
Bank of America Corp's options trading volume amounted to 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, experienced high activity with 31,757 contracts traded.
The report also made references to LNC Videos and Today's Most Active Call & Put Options of the S&P 500. It highlighted the trailing twelve-month trading history with the $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 sign up for Smart Investing for further insights into these trading activities.
According to InvestingPro data, Warner Bros Discovery Inc has a market cap of 26.01B USD and a revenue of 41.89B USD for LTM2023.Q2, with a growth of 116.78%. The company's gross profit for the same period was 16.04B USD, with a margin of 38.29%. This data, along with the InvestingPro Tips, provides valuable insights 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 companies. You can find more information here.
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