Unusual options activity in Warner Bros. Discovery suggests a trader placed a large bet that the Paramount Skydance acquisition will close before July 24. A bull call spread using July 24 $28 and $30 calls traded 18,719 contracts each, with a net debit of about $1.54 million and a maximum profit of roughly $2.2 million if WBD stock exceeds $30 by expiration. The trade implies an estimated 30% probability of deal closure before that date, ahead of the previously reported July 15 target by Paramount Skydance CEO David Ellison. EU regulatory approval is expected soon, but UK antitrust clearance and a potential multi-state lawsuit could delay the transaction beyond the September 30 deadline.
Paramount Skydance Corporation Class B Common StockOptions bet implies 30% chance of Paramount Skydance acquisition closing before July 24, with EU approval expected soon.
Warner Bros Discovery IncWBD is the acquirer; options bet suggests deal closure probability, which would benefit WBD.