DraftKings Options Trading: A Deep Dive into Market Sentiment

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Financial giants have made a conspicuous bullish move on DraftKings. Our analysis of options history for DraftKings DKNG revealed 17 unusual trades.

Delving into the details, we found 70% of traders were bullish, while 17% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $533,320, and 9 were calls, valued at $479,040.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $35.0 to $55.0 for DraftKings over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for DraftKings's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of DraftKings's whale activity within a strike price range from $35.0 to $55.0 in the last 30 days.

DraftKings 30-Day Option Volume & Interest Snapshot

Options Call Chart

Noteworthy Options Activity:

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 $3.25 $3.2 $3.25 $39.00 $293.4K 674 65
DKNG CALL TRADE BULLISH 12/19/25 $7.2 $7.1 $7.2 $40.00 $75.6K 439 115
DKNG CALL SWEEP BULLISH 01/16/26 $2.97 $2.85 $2.97 $55.00 $59.4K 22.8K 1
DKNG CALL SWEEP BULLISH 01/16/26 $2.96 $2.85 $2.96 $55.00 $59.3K 22.8K 401
DKNG CALL SWEEP BEARISH 01/16/26 $2.96 $2.86 $2.96 $55.00 $59.2K 22.8K 811

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.

Having examined the options trading patterns of DraftKings, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is DraftKings Standing Right Now?

  • With a volume of 3,279,598, the price of DKNG is down -0.13% at $38.52.
  • RSI indicators hint that the underlying stock may be approaching oversold.
  • Next earnings are expected to be released in 49 days.

What The Experts Say On DraftKings

In the last month, 1 experts released ratings on this stock with an average target price of $53.0.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from JP Morgan has decided to maintain their Overweight rating on DraftKings, which currently sits at a price target of $53.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest DraftKings options trades with real-time alerts from Benzinga Pro.

Market News and Data brought to you by Benzinga APIs
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