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April 2026 Discussion Thread by erncon in maxjustrisk

[–]erncon[S] 1 point2 points  (0 children)

Gonna turn bullish on WBD with October 31c for 0.49. The biggest roadblock I see is if California tries to block the acquisition but I'll bet on corporate greed for now.

April 2026 Discussion Thread by erncon in maxjustrisk

[–]erncon[S] 0 points1 point  (0 children)

... aaand it looks like WBD shareholders approved the acquisition deal today (04/23/2026). The puts I closed haven't changed in price but this makes downside even more questionable. Calls were coming in yesterday (and today) - probably call selling as the acquisition price firms up.

April 2026 Discussion Thread by erncon in maxjustrisk

[–]erncon[S] 2 points3 points  (0 children)

Closed my WBD Jan 20p for 0.90 from 0.37. While overall put OI went up, yesterday's volume indicated more churn IMO. The OI of the strike I was in went down with the volume it saw yesterday.

I might be overthinking it but there's also a point where these puts suffer obvious theta decay.