Investors with a lot of money to spend have taken a bearish stance on DraftKings (NASDAQ:DKNG).

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with DKNG, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 8 uncommon options trades for DraftKings.

This isn't normal.

The overall sentiment of these big-money traders is split between 12% bullish and 75%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $158,366, and 5 are calls, for a total amount of $338,450.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $15.0 to $43.0 for DraftKings over the last 3 months.

Insights into Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in DraftKings's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to DraftKings's substantial trades, within a strike price spectrum from $15.0 to $43.0 over the preceding 30 days.

DraftKings Option Volume And Open Interest Over Last 30 Days

Largest Options Trades Observed:

About DraftKings

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.

Current Position of DraftKings

• Trading volume stands at 4,421,200, with DKNG's price up by 1.05%, positioned at $41.53.
• RSI indicators show the stock to be may be overbought.
• Earnings announcement expected in 35 days.

Professional Analyst Ratings for DraftKings

5 market experts have recently issued ratings for this stock, with a consensus target price of $56.0.

Turn $1000 into $1270 in just 20 days?

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.