Financial giants have made a conspicuous bullish move on DraftKings. Our analysis of options history for DraftKings DKNG revealed 8 unusual trades.
Delving into the details, we found 50% of traders were bullish, while 50% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $196,957, and 5 were calls, valued at $465,922.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $30.0 to $49.0 for DraftKings over the recent three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of DraftKings stands at 584.29, with a total volume reaching 834.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in DraftKings, situated within the strike price corridor from $30.0 to $49.0, throughout the last 30 days.
DraftKings Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DKNG | CALL | TRADE | BULLISH | 03/21/25 | $8.95 | $8.75 | $8.89 | $30.00 | $177.8K | 153 | 200 |
| DKNG | CALL | TRADE | BULLISH | 11/15/24 | $7.05 | $6.95 | $7.01 | $30.00 | $140.2K | 730 | 200 |
| DKNG | PUT | TRADE | BEARISH | 11/08/24 | $2.72 | $2.24 | $2.72 | $38.00 | $81.6K | 427 | 0 |
| DKNG | PUT | SWEEP | BULLISH | 02/21/25 | $12.7 | $12.6 | $12.6 | $49.00 | $79.3K | 119 | 64 |
| DKNG | CALL | SWEEP | BEARISH | 05/16/25 | $9.4 | $9.35 | $9.4 | $31.00 | $62.9K | 21 | 125 |
About DraftKings
DraftKings got its start in 2012 as an innovator in daily fantasy sports. Then, following a Supreme Court ruling in 2018 that allowed states to legalize online sports wagering, the company expanded into online sports and casino gambling, where it generally holds the number two or three revenue share position across states in which it competes. DraftKings is now live with online or retail sports betting in 27 states and iGaming in seven states, with both products available to around 40% of Canada's population. The company also operates a non-fungible token commissioned-based marketplace and develops and licenses online gaming products.
Present Market Standing of DraftKings
- With a trading volume of 3,436,883, the price of DKNG is down by -1.02%, reaching $36.82.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 14 days from now.
Expert Opinions on DraftKings
5 market experts have recently issued ratings for this stock, with a consensus target price of $48.2.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * In a cautious move, an analyst from Benchmark downgraded its rating to Buy, setting a price target of $44. * An analyst from BMO Capital downgraded its action to Outperform with a price target of $48. * Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for DraftKings, targeting a price of $45. * Consistent in their evaluation, an analyst from Susquehanna keeps a Positive rating on DraftKings with a target price of $50. * Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on DraftKings with a target price of $54.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for DraftKings with Benzinga Pro for real-time alerts.
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