Financial giants have made a conspicuous bearish move on DraftKings. Our analysis of options history for DraftKings DKNG revealed 18 unusual trades.
Delving into the details, we found 33% of traders were bullish, while 55% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $490,294, and 10 were calls, valued at $417,418.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $35.0 and $55.0 for DraftKings, spanning the last three months.
Volume & Open Interest Trends
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for DraftKings's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across DraftKings's significant trades, within a strike price range of $35.0 to $55.0, over the past month.
DraftKings Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DKNG | PUT | SWEEP | BEARISH | 02/21/25 | $3.3 | $3.2 | $3.3 | $40.00 | $247.5K | 588 | 751 |
| DKNG | CALL | SWEEP | BEARISH | 12/20/24 | $0.68 | $0.67 | $0.67 | $40.00 | $66.3K | 8.3K | 4.0K |
| DKNG | CALL | SWEEP | BEARISH | 05/16/25 | $5.7 | $5.6 | $5.62 | $41.00 | $56.2K | 471 | 220 |
| DKNG | CALL | TRADE | NEUTRAL | 05/16/25 | $5.75 | $5.4 | $5.6 | $38.00 | $50.3K | 528 | 90 |
| DKNG | CALL | SWEEP | BEARISH | 08/15/25 | $8.55 | $8.4 | $8.4 | $35.00 | $46.2K | 120 | 56 |
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 about 30 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.
In light of the recent options history for DraftKings, it's now appropriate to focus on the company itself. We aim to explore its current performance.
DraftKings's Current Market Status
- Trading volume stands at 8,972,409, with DKNG's price down by -0.66%, positioned at $38.98.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 58 days.
What The Experts Say On DraftKings
1 market experts have recently issued ratings for this stock, with a consensus target price of $53.0.
Turn $1000 into $1270 in just 20 days?
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. * Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for DraftKings, targeting a price of $53.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for DraftKings, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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