Check Out What Whales Are Doing With DKNG

Financial giants have made a conspicuous bullish move on DraftKings. Our analysis of options history for DraftKings DKNG revealed 18 unusual trades.

Delving into the details, we found 50% of traders were bullish, while 27% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $791,128, and 16 were calls, valued at $939,579.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $28.0 to $50.0 for DraftKings over the recent three months.

Insights into Volume & Open Interest

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 $28.0 to $50.0 in the last 30 days.

DraftKings Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

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 25 states and iGaming in five states, with both products available to around 40% of Canada's population. In 2024, sports revenue was 61% of total sales, i-gaming 32%, and fantasy and lottery 7%. 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.

Present Market Standing of DraftKings

• Currently trading with a volume of 5,461,567, the DKNG's price is up by 3.03%, now at $40.69.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 38 days.

Professional Analyst Ratings for DraftKings

A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $54.67.

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. * Maintaining their stance, an analyst from Benchmark continues to hold a Buy rating for DraftKings, targeting a price of $51. * An analyst from Morgan Stanley persists with their Overweight rating on DraftKings, maintaining a target price of $53. * In a cautious move, an analyst from Citizens Capital Markets downgraded its rating to Market Outperform, setting a price target of $60.

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.